Top Companies: McCormick, Seagate Technology, Tesla, and Others

On Tuesday, March 26, 2024, U.S. equities experienced a midday rally after reversing a decline from the previous day. The positive sentiment was due to a report indicating that durable goods orders had grown in February. McCormick & Company led the gains on the S&P 500, surpassing profit and sales estimates due to higher prices. Additionally, shares of Tesla rose as CEO Elon Musk announced a one-month free trial of their driver-assist system.

Seagate Technology also saw gains after an upgrade from Morgan Stanley, citing potential margin boosts from increased demand for artificial intelligence. However, 3M experienced a decline as they announced nearing a settlement for litigation regarding military earplug claims.

The commodities market remained stable with oil futures, gold futures and the yield on the 10-year Treasury note all showing little change. The U.S dollar strengthened against the euro, pound and yen while trading in major cryptocurrencies showed mixed results. Overall, the market sentiment was positive with the Dow Jones Industrial Average, S&P 500 and Nasdaq all trading higher.

By Riley Johnson

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