"All of the major indices finished higher once again on Wednesday, with the Nasdaq leading the way, closing up 1.26% at 23,152, while the S&P 500 closed at 6,946, up 0.81%. The Dow Jones Industrial Average was last seen at 49,482, up 0.63%, and the small-cap Russell 2000 closed at 2,663, up 0.41%."
"Oil was up on Wednesday as a headline was posted that Saudi Arabia was boosting oil production in anticipation of a U.S. attack on Iran. That was in addition to reports that OPEC+ is considering a modest increase in output and production in April. While oversupply remains the bearish argument, oil has held its ground above $60, which is very positive for many top companies."
"With fourth-quarter earnings all but complete and big market-moving events like Nvidia's earnings report out of the way, traders will focus on economic data and chatter from Fed governors for the next few weeks."
Stock markets continued their upward momentum on Wednesday following strong Tuesday gains. The Nasdaq led with a 1.26% gain to 23,152, while the S&P 500 rose 0.81% to 6,946 and the Dow Jones gained 0.63% to 49,482. Nvidia's earnings beat failed to spark additional enthusiasm despite strong results. Treasury yields showed mixed movement across the curve, with the 10-year note at 4.05% and 30-year bond at 4.70%, as geopolitical concerns with Iran persist. Oil prices strengthened on reports of Saudi production increases and potential OPEC+ output adjustments, with Brent Crude closing at $70.85 and WTI at $65.63. Natural gas rose 1.85% to $2.97. With fourth-quarter earnings largely complete, market focus shifts to economic data and Federal Reserve communications.
#stock-market-performance #treasury-yields #oil-and-energy-markets #geopolitical-tensions #earnings-season
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