NEW YORK, March 13 ― US stocks ended sharply higher yesterday, with the S&P 500 registering a record high close as Oracle shares surged and consumer price data failed to...
Shares of Oracle jumped 11.7 per cent and reached a record high, a day after it reported upbeat quarterly results and said it is set to make a joint announcement with artificial intelligence chip giant Nvidia. ― Reuters file picNEW YORK, March 13 ― US stocks ended sharply higher yesterday, with the S&P 500 registering a record high close as Oracle shares surged and consumer price data failed to dampen investors' hopes of interest rate cuts in the coming months.
Nvidia shares gained 7.2 per cent and an index of semiconductors rose 2.1 per cent and snapped a two-day losing streak.The Labour Department reported that the Consumer Price Index rose 0.4 per cent last month after climbing 0.3 per cent in January. Excluding volatile food and energy components, consumer prices increased 0.4 per cent in February after rising by the same margin in January.
The Dow Jones Industrial Average rose 235.74 points, or 0.61 per cent, to 39,005.4. The S&P 500 gained 57.3 points, or 1.12 per cent, at 5,175.24 and the Nasdaq Composite added 246.36 points, or 1.54 per cent, at 16,265.64. The US Federal Aviation Administration has curbed Boeing production following the mid-air panel blowout on a new Alaska Airlines 737 MAX 9 jet on January 5.
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