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Wall Street Today: Nasdaq, S&P 500 and DJIA Rise as Markets Cheer Pause on Some Auto Tariffs
Wall Street Climbs As Trade Tensions Ease, Dow Jumps 485 Points
U.S. stock market closes: trade tensions ease, market rebounds, China's Golden Dragon Index skyrockets by 6.4%.
① Chinese concept stocks rose broadly, with the Nasdaq China Golden Dragon Index closing up 6.4%; ② The United Kingdom abandons the antitrust investigation into the "Microsoft-OpenAI" combination; ③ Google tests a new AI search model to handle complex queries; ④ Intel releases commercial AI PC products, which will ship at the end of March.
Trump's tariffs "give some leeway," U.S. stock indices rebound over 1%, Chinese concepts surge, Alibaba rises nearly 9%, the dollar plummets, and German bonds hit their worst performance since 1990.
Microsoft rose over 3%, leading the Dow Jones; automotive giants surged, with Stellantis up over 9% and General Motors rising over 7%. The China Concept Index increased by more than 6%, with XPeng Motors up over 7%. German stocks rose over 3%; the yield on ten-year German bonds surged by 30 basis points; the euro climbed over 1% to a four-month high, the USD fell over 1%, experiencing its largest drop in six weeks. The offshore yuan rose over 400 points during intraday trading. The Crude Oil Product closed at its lowest level in nearly six months.
"The small non-farm report" comes as a surprise! USA's ADP employment numbers for February have dropped to the lowest level since July of last year.
The USA's ADP employment number, known as the "little non-farm payroll," only increased by 0.077 million in February, marking the smallest increase since July 2024, falling far short of market expectations of 0.14 million and the previous value of 0.183 million.
ADP Says Just 77,000 Private Jobs Created in February as Businesses Navigate Trump Tariffs
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