The Nasdaq rallied more than 2 percent on Tuesday as technology firms bounced back on easing concerns around the Omicron variant, while Intel jumped after plans to take its self-driving car unit public. Investors cheered the chip giant’s decision to list Mobileye in the United States in mid-2022, sending its shares 5.0 percent higher. The…
Big Tech, Chipmakers Power Nasdaq as Omicron Worries Subside
December 7, 2021
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Dow Climbs Over 1 Percent on Cyclical Boost; Nvidia Weighs on Nasdaq
December 6, 2021
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The Dow rallied over 1 percent on Monday as economy-linked banks and energy stocks roared back after sharp declines in the previous week, while Nasdaq struggled to keep pace as Nvidia dragged down chipmakers. Blue-chip stocks such as Honeywell International, Chevron Corp., Goldman Sachs, 3M Co., and Boeing Co. gained between 1.4 percent and 3.8…
S&P 500, Nasdaq Hit Record Highs After Powell Nomination
November 22, 2021
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The S&P 500 and the Nasdaq hit record highs on Monday after President Joe Biden picked Federal Reserve Chair Jerome Powell to lead the bank for a second term, keeping the status quo as the central bank plans to wind down pandemic-era stimulus. The Dow Jones Industrial Average rose 29.43 points, or 0.08 percent, at…
Nasdaq Ends Atop 16,000 Mark for the First Time on Tech Strength
November 20, 2021
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The Nasdaq Composite Index closed above 16,000 points for the first time on Friday, in its second-straight record finish powered by technology stocks, while pandemic jitters sent the Dow to its fourth losing session in the last five. Both the Nasdaq and S&P 500 index scored a winning week, up 1.2 percent and 0.3 percent…
A Surge in Stock Offerings
Commentary A couple of weeks ago, the buzz on Wall Street centered on a new stock offering. The heretofore private electric car startup, Rivian, listed its shares on the NASDAQ exchange. This initial public offering (IPO), as such things are called, was the biggest since Alibaba’s 2014 listing. Investors certainly have an appetite for electric…
Nasdaq Futures at Record High as Economic Concerns Drive Tech Demand
November 19, 2021
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Nasdaq index futures hit a record high on Friday as investors sought economically stable sectors after a small delay in voting on President Joe Biden’s $1.75 trillion spending bill, while rising COVID-19 cases in Europe also dented sentiment. S&P and Dow futures fell tracking losses in banks, airlines, and other economically sensitive sectors. Uncertainty over…
S&P 500, Nasdaq Rise After Inflation-Led Rout; Disney Weighs on Dow
The S&P 500 and Nasdaq rebounded on Thursday from two days of inflation-driven selloff, but losses in Walt Disney due to slowing subscriber growth in its streaming video service weighed on the Dow. A record-breaking rally in Wall Street’s main indexes had come to an end earlier this week as recent inflation reports suggested that…
S&P, Nasdaq Futures Scale New Heights on Earnings Boost
November 4, 2021
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The S&P 500 and Nasdaq futures were at record highs on Thursday, propped up by a slew of stellar earnings reports and as investors shrugged off the Federal Reserve’s first steps to begin paring its pandemic-era support. Shares of Qualcomm Inc. jumped 8.1 percent in pre-market trade after the chipmaker forecast better-than-expected profit and revenue…
Big Tech, Chipmakers Power S&P 500, Nasdaq to Record Highs
November 4, 2021
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The S&P 500 and the Nasdaq hit record highs on Thursday on stellar earnings reports, with investors looking past the Federal Reserve’s asset tapering plan as borrowing costs remain low. The Dow slipped from an all-time closing high hit on Wednesday, dragged down by big banks JPMorgan Chase & Co. and Goldman Sachs Group which…
Sneaker Maker Allbirds Valued Over $3 Billion in Strong Nasdaq Debut
Sneaker maker Allbirds Inc. fetched a valuation of $3.3 billion in its Nasdaq debut on Wednesday after its shares opened 41 percent above their offer price, joining a clutch of retailers that had strong market debuts in recent months. Allbirds uses wool and other plant-based alternatives in its products. “We believe that there’s an opportunity…
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