Nasdaq Surges Over 1%; ISM Services PMI Tops Views

Market Performance - U.S. stocks experienced an upward trend, with the Nasdaq Composite increasing by more than 1% on Wednesday [1] - The Dow Jones Industrial Average rose by 0.67% to 48,823.29, while the Nasdaq climbed 1.39% to 22,830.06, and the S&P 500 gained 0.85% to 6,874.80 [1] Sector Performance - Consumer discretionary shares saw a rise of 1.6% on Wednesday [1] - In contrast, energy stocks experienced a decline of 1.2% [1] Economic Indicators - The ISM services PMI increased to 56.1 in February, up from 53.8 in the previous month, surpassing market expectations of 53.5 [2] Commodity Prices - Oil prices decreased by 0.7% to $74.06, while gold prices increased by 0.8% to $5,164.30 [3] - Silver rose by 0.4% to $83.825, and copper saw an increase of 1.1% to $5.8875 [3] European Market Performance - European shares showed positive movement, with the eurozone's STOXX 600 rising by 1.33% [4] - Spain's IBEX 35 Index increased by 2.26%, London's FTSE 100 rose by 0.69%, Germany's DAX gained 1.47%, and France's CAC 40 jumped by 0.96% [4] Asian Market Performance - Asian markets closed lower, with Japan's Nikkei 225 falling by 3.61%, Hong Kong's Hang Seng index dipping by 2.01%, China's Shanghai Composite declining by 0.98%, and India's BSE Sensex decreasing by 1.40% [5]