3/30/2016, 10:07 PM (Source: TeleTrader)
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Closing bell: American markets close with decent gains

Stock markets in North America traded higher on Wednesday, in a day of less excited trade compared to Tuesday afternoon's rally. Oil prices slid back, erasing daily gains after rallying for two hours on the latest inventories data. The U.S. Energy Information Administration (EIA) reported on Wednesday oil inventories rose by 2.3 million barrels in the week ending March 25 to 534.8 million barrels. The three major indexes moved up over half a per cent in a conspicuous synchronicity.

The Dow Jones Industrial Average closed up 0.47% at 17,716 points. Visa Inc. added 1.90%, and Apple Inc. rose 1.75%, being the most wanted stock of the day, McDonald's added 1.50%, while 3M Company climbed 1.45%. General Electric Company shares were also in demand, and stock added 1.11%. The Boeing Company lost 1.76%, and the International Business Machines Corporation slid 0.62%.

The S&P 500 index rose 0.44% to close at 2,064 points. MetLife Inc. jumped 5.67% after a federal judge rejected the Financial Stability Oversight Council's designation that MetLife Inc. should be a subject of stricter regulations due to its perceived status of systemically important financial institution. Royal Caribbean Cruises Ltd. rose 5.67%, and Haliburton Company climbed up 2.86%. Western Digital Corporation fell 4.51% leading the losses in the technology sector, and Southwestern Energy Company lost 3.75% to lead decliners in the energy field.

The Nasdaq 100 index was the best performer, rising 0.52% to close at 4,490 points. The tech-laden index was led by Norwegian Cruise Line, which rose 5.70%, and, Inc. climbed up 3.10%. Paychex, Inc. dropped 2.20%, tied up with NetApp, Inc. slide of 2.20%. Facebook lost 1.24%.

In Toronto, the S&P/TSX index rose 0.58% to close at 15,503 points. All sectors were in the positive territory, led by consumer staples and discretionary, except for materials which lost 1.14%. Savana Energy jumped 9.23%, while Urthecast Corporation plunged 12.1%, and Valeant saw another day of loss, down 7.11%.

The U.S. light sweet crude West Texas Intermediate fell 0.02% to $38.27 a barrel at 9:58 p.m. CET (3:58 p.m. EST), erasing gains after hitting highest price of $41.05 a barrel. The international benchmark Brent inched up 0.18% to $39.20 a barrel, with daily high of $41.35 a barrel. The Organization of the Petroleum Exporting Countries reported the OPEC daily basket price of 13 crudes at $34.50 a barrel on Tuesday, similar with $35.48 a barrel on Monday.

The U.S. dollar index declined 0.35%, as an indicator of strength compared to major world currencies. The greenback lost 0.40% to the euro, 0.24% versus the Swiss franc, and 0.23% against the Japanese yen, while adding 0.05% against the U.K. sterling at 10:05 p.m. CET (4:05 p.m. EST). Gold fell 1.10% to $1,225.75 per troy ounce.

Image: NASDAQ marketsite © Copyright 2015, Nasdaq, Inc.

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