May 22, 2024 6:13 pm
Top Companies: McCormick, Seagate Technology, Tesla, and Others

On Tuesday, March 26, 2024, U.S. equities experienced a midday rally after reversing a decline from the previous day. The catalyst for this was a report that showed durable goods orders had grown in February. McCormick & Company led the gains on the S&P 500, with their spice maker surpassing profit and sales estimates due to higher prices. Additionally, shares of Tesla rose as CEO Elon Musk announced a one-month free trial of their driver-assist system.

The market sentiment was overall positive, with the Dow, S&P 500, and Nasdaq all trading higher. Seagate Technology also saw gains after an upgrade from Morgan Stanley, citing potential margin boosts from increased demand for artificial intelligence. However, 3M experienced a decline as they announced nearing a settlement for litigation regarding military earplug claims.

In terms of commodities and currencies, oil futures, gold futures, and the yield on the 10-year Treasury note remained stable. The U.S. dollar strengthened against the euro, pound, and yen while trading in major cryptocurrencies showed mixed results.

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