• Wed. May 22nd, 2024

Midday Rally on March 26: S&P 500 Gains Driven by Durable Goods Orders and Profit Beat at McCormick & Company

BySamantha Nguyen

Mar 27, 2024
Top Companies: McCormick, Seagate Technology, Tesla, and Others

On Tuesday, March 26, 2024, the U.S. equities market saw a midday rally after reversing a decline from the previous day. This was prompted by a report that showed durable goods orders had grown in February. McCormick & Company led the gains on the S&P 500, with the 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 overall market sentiment was 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

By Samantha Nguyen

As a content writer at newsskio.com, I weave words to craft compelling narratives that captivate readers and bring stories to life. With a keen eye for detail and a passion for storytelling, I strive to create engaging and informative content that resonates with our audience. Whether I'm delving into the latest news trends or exploring unique angles on various topics, my goal is to deliver quality content that informs, entertains, and inspires. Join me on this journey as we uncover the news stories that matter most.

Leave a Reply