'Tech'ing It Up a Notch 🚀
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Hey Global Investor, here's what you need to know before the US markets open.
Market Snapshot 📈
S&P 500 (Monday Close) 3,179.72 +49.71 (1.59%)
NASDAQ (Monday Close) 10,433.65 +226.02 (2.21%)
FTSE 100 (5 PM IST) 6204.42 -81.52 (-1.29%)
NIFTY 50 (Today's Close) 10,799.65 +36.00 (0.33%)
USDINR (5 PM IST) 74.85 (1 Year +9.04%)
‘Tech’ing it Up a Notch
US stocks closed higher with Netflix, Amazon, Tesla, and other tech companies seeing good gains
What Happened? Wall Street continued its upward march after the long weekend as the Nasdaq closed at a record high. Monday saw a significant rally of stocks, especially of tech giants such as Apple, Amazon, Tesla, and Microsoft seeing stellar gains. Alibaba, Dexcom, and Chipotle also saw a flurry of buying. Monday’s growth was initially fueled by the Chinese market, which gained 5.7%.
As the day progressed, the big tech companies drove the markets even higher. The Nasdaq Composite rose 2.2%, the Dow Jones Industrial Average gained 1.78%, and the S&P500 spiked 1.6%.
The growth of Nasdaq was driven by the three most valued US companies, namely Amazon, Microsoft, and Apple. It helped to extend the index rally to five straight days, during which the Nasdaq gained nearly 7%. The combined worth of these three companies is now worth $4.7 trillion.
Market Reaction: Apple shares rallied 2.7% to close at a record of $373.85. Apple has seen a 27% growth YTD.
Microsoft ended the day strongly with a 2.2% gain to close at $210.70. This is a record close for the company that helped it reach YTD gain to 34%.
Amazon saw the biggest gain among the top 3 with a 5.8% rally, crossing $3000 without resistance. The company struck the market cap of $1.5 trillion with this move.
Tesla saw its biggest surge in three months, with a 13.48% gain closing at $1,371.58.
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Newsworthy 📰
Breaking Up: TikTok Says It Will Leave Hong Kong After Recent Passage of Security Law
Worthy Leader: Nvidia Is Poised to Be Worth More Than Intel. (NVDA +2.36%)
Twitter Hasn't Been Kind: Nikola Stock Is Falling Again After Getting Struck by a Twitter Onslaught (NKLA -14.46%)
Later Today 🕒
7.30 pm IST: Job Openings
Fun Fact of The Day 🌞
If You Smoke While Using an Apple Computer, You Void the Warranty
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