U.S. stock markets showed mixed results on Wednesday. The Dow Jones made strong gains, while the Nasdaq Composite ended almost unchanged. Nvidia was a standout performer, while Alphabet’s stock fell after it missed its earnings expectations. Traders didn’t seem too worried about Donald Trump’s trade tariffs, despite China introducing its own tariffs between 10% and 15%, which are already affecting major U.S. automakers like Ford and GM.
Dan Loeb, from investment firm Third Point, believes that investing in stocks will remain favorable. However, he mentioned that there might be occasional market disruptions due to the unconventional ways this Administration has handled policies that affect markets and the economy.
The Dow Jones Industrial Average gained 317.24 points, closing at 44,873.28, which was up by 0.71%. The Nasdaq Composite rose 38.31 points, closing at 19,692.33, an increase of 0.19%. Meanwhile, the S&P 500 added 23.60 points, closing at 6,061.48, which was up by 0.39%.
In global currency markets, the euro rose against the U.S. dollar, gaining 0.25% to reach 1.0403. On the other hand, the U.S. dollar struggled against the Japanese yen, falling 1.05% to 152.70. The U.S. dollar also lost ground against the Swiss franc, with the USDCHF pair trading at 0.9011, down 0.42%.
The U.S. dollar was slightly up against the Canadian dollar, with the USDCAD pair rising by 0.05% to 1.4325. The British pound strengthened against the dollar by 0.20%, closing at 1.2502. In the Pacific region, both the Australian and New Zealand dollars saw gains against the U.S. dollar, with the AUDUSD pair up by 0.60% and the NZDUSD pair increasing by 0.65%.
Across the globe, stock markets had mixed results. In Canada, the S&P/TSX Composite Index rose by 1.15%, closing at 25,569.84. In the United Kingdom, the FTSE 100 increased by 0.61%, finishing at 8,623.29. In Germany, the DAX 30 rose by 0.37%, while the CAC 40 in France ended lower by 0.19%.
Asian markets showed varied results. Hong Kong’s Hang Seng Index fell 0.93%, while Japan’s Nikkei 225 increased by 0.09%. In India, the S&P BSE SENSEX declined by 0.40%, while South Korea’s KOSPI Composite Index gained 1.11%.
In Oceania, Australia’s S&P/ASX 200 rose by 0.51%, and New Zealand’s S&P/NZX 50 Index dropped by 0.47%.
In the Middle East, Israel’s TA-125 index saw a notable rise of 1.59%, while Egypt’s EGX 30 Index increased by 0.23%. South Africa’s Top 40 Index rose by 0.86%.
Overall, global markets showed a mix of gains and losses as investors reacted to economic reports and global developments. Market participants remain cautious as they await more news and updates from governments and central banks in the coming days.
