Stocks rise on strong PMI data, Bayer and James Hardie fall, MicroStrategy gains

From Yahoo Finance: 2025-03-24 09:59:00

Stocks rose as the March flash Purchasing Managers Index (PMI) exceeded expectations. The Trump administration may impose reciprocal levies on nations with significant trade with the US. Investors are focused on trade uncertainties. Canadian PM Mark Carney called a snap election. The ShopTalk Conference in Las Vegas will explore retail and e-commerce trends.

Bayer’s ADRs fell 7.4% after being ordered to pay $2.1 billion for Roundup cancer claims. James Hardie’s stock dropped 16% following an $8.75 billion deal to acquire AZEK. MicroStrategy’s stock increased by 5.6% due to its ownership of 506,137 Bitcoins. Nvidia and Palantir saw a rise in shares, while Tesla gained 7.7%.

The PMI for March rose above consensus at 53.5, with services reading reaching 54.3. Manufacturing PMI dropped to 49.8. Mark Carney called for a snap election on April 28. The ShopTalk Conference in Las Vegas is focusing on the future of retail. Bayer and James Hardie experienced stock fluctuations due to legal and acquisition issues.

Read more: Nvidia, Palantir, Tesla, MicroStrategy, Bayer, James Hardie, AZEK: Stocks to watch today