Long-time Chief Executive Officer Ben Silbermann of Pinterest would step down, handing over the reins of the social media platform to Google...

Stock Market

Google executive to take over as a new CEO of Pinterest

Top accounting firm Ernst & Young has been slammed with a record $100 million fine from the US government...

Stock Market

Accounting firm gets 100 million fine for faulty regulations

The Indian rupee slipped into a fresh low today and extended losses against the US dollar.

Forex

The rupee tumbled to a new low against the dollar in the midst of an increase in crude oil price

Wall Street saw a sharp fall at its closing in a broad sell-off. Consumers' worries over recession have sparked up...

Stock Market

Wall Street Lose Balance after recession strikes growth fear among consumers’

Soaring inflation may be pushing the US economy into a deep recession. Last week's 0.75% interest rate hike by the Federal Reserve...

Stock Market

Inflation ringing the recession bell - Mohammed Shaheen

Stock Markets

29 Mar 2022

S&P 500 Rises for Third Consecutive Day Headed by Tesla Stocks

The Index Today

The S&P 500 soared for the third consecutive day on Monday spurred by the surge in Tesla shares, thereby offsetting the effects of bearish bank and fuel stocks as Ukraine and Russia prepare to resume ceasefire talks this week.

According to Reuters, Nasdaq and S&P 500 received major support from the 8.03% climb in Tesla shares. This comes after Tesla Inc. recently announced a second stock split in nearly two years which would come into effect following final shareholder authorization.

The S&P energy index sustained a major blow, falling by 2.56% after oil prices plummeted following the COVID-19 lockdown in the major Chinese commercial hub of Shanghai.

By 12:01am ET, Nasdaq Composite rose by 1.31% to 14,354.90, the S&P 500 edged higher by 0.71% to 4,575.52, while the Dow Jones Industrial Average gained by 0.27% to 34,955.89.

Clay pottery with table linens