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U.S. stock indexes edged higher on Tuesday as most mega-cap stocks and chipmakers jumped on optimism for a third interest rate cut this year.
As of 9:33 a.m. ET, the Dow Jones Industrial Average was up 70.78 points, or 0.18%, at 39,384.42, the S&P 500 was up 15.22 points, or 0.29%, at 5,233.41, and the Nasdaq Composite Index was up 73.22 points. 0.45% 16,457.68.
When the opening bell rang, the Dow Jones Industrial Average rose 24.68 points, or 0.06%, to $39,338.32. The S&P 500 index rose 10.66 points, or 0.20%, to open at 5,228.85, and the Nasdaq Composite Index rose 62.38 points, or 0.38%, to 16,446.85.
Tesla stock rose 5.7%, Micron Technology rose 2.5% and Nvidia rose 0.9%. Microsoft rose 0.4% and Metaplatform rose 1%.
Trump Media & Technology Group soared 43.1% in its first day of trading under a new ticker “DJT,” the initials of former President Donald Trump.
According to the report, U.S. durable goods orders recovered slightly in February.
Important February personal consumption expenditure (PCE) price index data is expected to be released this week.
The yield on the 10-year U.S. Treasury rose to 4.26% from 4.25% late Monday. The two-year bond yield fell to 4.61% from 4.63%.
In Europe, Britain’s FTSE 100 index rose 0.1% to 7,927.78. France’s CAC40 index rose 0.2% to 8,168.12. Germany’s DAX rose 0.6% to 18,378.13.
The Euro Stoxx 50 rose 0.4% to 5,062.29.
In Asian stock markets, Hong Kong’s Hang Seng Index rose 0.9% to 16,618.32. China’s Shanghai Composite Stock Price Index rose 0.2% to 3,031.48.
Japan’s Nikkei Stock Average ended flat at 40,398.03 yen.
Oil prices were mixed on Tuesday. Brent crude oil futures, which expire on Thursday, were down 11 cents at $86.64 a barrel at 1415 GMT, while U.S. West Texas Intermediate (WTI) crude futures were up 6 cents at $82.01.
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