The main US stock market indices opened on a mixed note on Wednesday, with the S&P 500 and tech-heavy Nasdaq Composite in the green, and Dow Jones Industrial Average in the red.
S&P 500 opened 0.14% or 8 points higher at 6,791.25, Nasdaq egded 0.3% or 69.22 points higher to 22,766.33 at open, while Dow Jones opened 0.08% lower at 47,669.56.
As of 10 a.m. EST, Nasdaq rose 0.47% to 22,806.63 on the back of rise in big tech, S&P 500 was up 0.3% to 6,802.32, and Dow Jones slipped 0.16% lower to 47,627.66.
Shares of Oracle Corp. surged over 13% in early trade after a robust Q3 earnings report. The Larry Ellison led company reported a 22% increase in total quarterly revenue in USD, and 18% in constant currency to $17.2 billion. Cloud revenues were up 44% in USD, and up 41% in constant currency to $8.9 billion.
Volatility in crude oil prices remained elevated as the Iran crisis entered 12th day on March 11, causing a worldwide fuel crunch.
West Texas Intermediate rose over 2% to trade at $85.48 a barrel, and global benchmark Brent Crude traded 2.7% higher at $90.19. On the other hand, spot gold prices traded 0.38% lower at $5,173 an ounce.
All of the magnificent seven stocks traded in the green, lifting overall tech sentiment. Nvidia Corp. ticked nearly 1% higher after the bellwether struck a deal with Nebius to invest $2 billion.
ALSO READ: Nvidia To Invest $2 Billion In AI Data Center Specialist Nebius
Apple Inc. was little changed at $260.93, Amazon Inc. traded 0.4% higher at $215.22, Tesla extended gains and jumped nearly 3% to $409.09.
Meta Platforms Inc. also rose 0.3% to trade at $656.80, Microsoft Corp. was up 0.24% to $406.63, and google-parent Alphabet Inc. traded 0.36% higher at $308.32.
After the market opened, only four of the 11 sectoral indices traded in the green with gains led by the energy sector. Whereas, Materials sector and Consumer Staples were the heaviest draggers.
The US spot dollar strengthened against global currencies, with the index rising 0.1%. The Euro fell 0.2% to $1.1587, British pound was little changed at $1.3415, and Japanese yen fell 0.3% to 158.53 per dollar.
Bitcoin, the largest traded cryptocurrency, was little changed at $70,283.59
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