March 24, U.S. time Thursday, U.S. stocks closed major stock indexes rose across the board. U.S. Treasury Secretary Yellen said additional measures will be taken to stabilize the U.S. banking system if necessary. Investors rushed to buy large technology stocks, which are seen by many as a kind of refuge in times of inflation and economic uncertainty.
The Dow Jones closed at 32,105.25, up 75.14 points, or 0.23 percent; the S&P 500 closed at 3,948.72, or 0.30 percent; and the Nasdaq closed at 11,787.40, or 1.01 percent.
Large technology stocks generally rose, Nifty rose more than 9%, the largest intraday gain in nearly four months, the company recently announced plans to release 40 new video games this year; Meta rose more than 2%, Google and Microsoft rose more than 1%.
Chip leading stocks generally rose, Micron rose more than 5%, Intel, Asmac and Applied Materials rose more than 3%, TSMC, Nvidia and other gains of more than 2%. Nvidia market value of $ 671.62 billion, jumped to the United States market capitalization of the 5th largest listed companies.
Most of the leading new energy car stocks rose, Tesla rose 0.56%, Rivian rose 3.16%, Faraday Future fell 18.24%; Azera rose 1.98%, Xiaopeng rose 2.16%, ideal rose 1.85%.
Among leading Chinese e-commerce stocks, Alibaba rose 0.87%, Jingdong gained 1.14% and Poundland rose 3.63%.
Among the other popular Chinese stocks, BOSS rose 7.06%, Beili Beili rose 6.28%, New Oriental rose 4.36%, Akiyip rose 2.46%, Manbang rose 1.57%, Baidu rose 1.51%, Ctrip rose 0.54%, and Zhihu was unchanged from yesterday.
Specifically, major technology stocks in the U.S. performed as follows:
Major chip stocks in the U.S. stock market performed as follows:
The performance of popular Chinese stocks listed in the U.S. is as follows:
U.S. Treasury Secretary Janet Yellen told members of Congress on Thursday that the federal government would take additional measures to stabilize the U.S. banking system if necessary. In testimony prepared for presentation to the U.S. House Appropriations Subcommittee, Yellen said:We used important tools to act quickly to prevent contagion.”
Data released by the U.S. Department of Labor showed that the number of people filing for unemployment benefits for the week ended March 18 was 191,000, down 1,000 from the previous week’s revised number. The median estimate of economists surveyed was 197,000.
The report showed that the U.S. labor market has remained largely resilient under the Fed’s rate hikes over the past year. The number of U.S. jobless claims continues to hover near historic lows, and job creation remains strong.
Elsewhere, the Bank of England announced a 25 basis point rate hike despite turmoil in the banking sector. The Bank expects the U.K. economy to avoid recession, with inflation risks remaining.