Home Stock exchange Stock Market Today: The Dow Jones Rises, Dell Bounces, Salesforce Rises

Stock Market Today: The Dow Jones Rises, Dell Bounces, Salesforce Rises


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Fed Chairman Powell has managed to communicate with the markets without scaring stocks.

Mark Wilson / Getty Images

Recent stock market risks have faded so far, with the

Dow Jones Industrial Average

up over 500 points and looking ready for a second straight win. The Chinese central bank pumped more liquidity into the banking system and the Federal Reserve did not say anything outside of expectations on Wednesday afternoon.

The Dow Jones gained 574 points, or 1.7% after the index rose 338 points on Wednesday to close at 34,258.

S&P 500

increased by 1.4% and the

Nasdaq Composite

advanced by 1.1%.

“The market reacted well to the Fed’s results yesterday and took into account concerns about the contagion of real estate problems in China,” writes Mike Loewengart, managing director of investment strategy at ETrade.

Even if

Evergrande Group in China

(ticker: EGRNF) may be struggling, markets don’t care about spillover effects. The People’s Bank of China injected an additional $ 17 billion into the banking system after investing $ 13 billion earlier this week.

The injection helps strengthen the Chinese banking system, while US banks are also not very exposed to credit risk in China. Wells Fargo analysts say none of the major U.S. banks have more than 1.5% of their assets related to Chinese cross-border transactions.

“The risk of contagion is gone,” writes Tom Essaye, founder of Sevens Report Research.

Evergrande stock rose 17.6% in Hong Kong, but remains down 81% year-to-date.

As for the Fed, President Jerome Powell made no indication on Wednesday that the central bank will cut monthly bond purchases by more than the $ 15 billion currently expected. If the Fed goes faster than that, it could lower the price of long-term bonds more than expected, increasing yield, making future earnings less valuable. For now, the markets expect a gradual reduction in the bond buying program.

“Powell continues to walk the line between guiding the market to expect tightening without unduly worrying investors,” said Neil Wilson, analyst at brokerage Markets.com.

The 10-year Treasury yield rose 1.4% from 1.32% at Wednesday’s close, although still below its 2021 high of 1.75%.

While weekly jobless claims edged up to 351,000, above expectations of a drop to 320,000, the four-week average remains near its pandemic low.

Overall, the two-day market rise looked compelling. The S&P 500 is up more than 3% from its low this week, with the vast majority of stocks in the index participating in Thursday’s rally. The index also returned above its 50-day moving average, a key technical level. In addition, the two trading days leading up to Thursday saw times when rising New York Stock Exchange shares topped declines by more than 1,500. The last time this happened this year This happened after a brief pullback, and then stocks performed well over the next two weeks, according to Instinet.

Here are 8 actions in motion Thursday:

Hydrogen fuel cell developer

Connect the power

(PLUG) rose 2.1%, extending Wednesday’s gains, amid a Reuters report that German automakers were betting on a hydrogen-powered future.

Dell Technologies

(DELL) gained 4.7% after the company said it achieved compound annual growth of 3-4% in revenue through fiscal 2026.


(BB) jumped 13.9% after reporting a loss of 6 cents a share, beating a loss forecast of 7 cents, on sales of $ 175 million, ahead of expectations of $ 168.8 million dollars.

Darden Restaurants

(DRI) rose 6.5% after reporting earnings of $ 1.76 per share, beating expectations of $ 1.65 per share, on sales of $ 2.31 billion, beating expectations by 2 , $ 24 billion.


(ROKU) grew 3.5% after upgrading to Buy From Neutral in Guggenheim.

Selling power

(CRM) is up 6.6% after raising its full-year sales forecast.

General dynamics

(GD) advanced 2% and

Northrop Grumman

(NOC) rose 0.9% after shares were upgraded to Neutral Sell at Goldman Sachs.

Write to Jacob Sonenshine at [email protected]


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