Dow Jones, S&P 500, Nasdaq Wall Street opens friendlier – tech stocks under pressure

Dow Jones, S&P 500, Nasdaq Wall Street opens friendlier – tech stocks under pressure

Dow Jones, S&P 500, Nasdaq Wall Street opens friendlier - tech stocks under pressure
View of the trading floor of the New York Stock Exchange.  Source: dpa

The decreasing fear of the consequences of the Corona variant Omikron has made US investors more confident at the start of the week. The Dow Jones index of defaults rose 1.3 percent on Monday to 35,020 points. The broader S&P 500 rose 0.4 percent to 4,555 meters. In contrast, the index of the technology exchange Nasdaq fell 0.3 percent to 15,035 points in the first few minutes of trading.

“Investors are taking this as an opportunity to step into names they are familiar with, such as the big blue chip stocks, and they are testing the market,” said Robert Pavlik, portfolio manager at Dakota Wealth Management. In particular, share certificates from banks and energy companies were in demand.

Goldman Sachs and Chevron shares rose around one percent. In contrast, US investors parted ways with technology companies such as Microsoft, Google owner Alphabet and Amazon.com.

Look at the individual values

: The retailer’s share is up six percent. Engine Capital investor urges Kohl’s to consider selling the company or separating its e-commerce business.

Tesla papers also flew out of the investors’ depots and slipped around five percent. The electric car maker was put under pressure by a report from the Reuters news agency that the US Securities and Exchange Commission has launched an investigation. The authority responded to a tip that in its solar division had not properly informed its shareholders and the public about the risk of fire in defective photovoltaic systems for years.

Shares plunged around seven percent after the EU antitrust authorities temporarily put their investigation into the planned takeover of British chip developer Arm on hold. First, more information should be submitted. The shares of competitors Qualcomm and Advanced Micro Devices also fell at the start of trading.

The China-based e-commerce giant rose 6.6 percent after announcing a reorganization of its e-commerce team and the appointment of a new chief financial officer.

The share of the electric vehicle manufacturer collapsed by 12.1 percent. The Lucid Group had previously received a subpoena from the Securities and Exchange Commission. Lucid said the subpoena required documents related to the SPAC merger agreement with Churchill Capital Corp.

: The maker of specialty building chemicals agreed to be acquired by French construction company Saint-Gobain for $ 32 per share, or about $ 32 billion. GCP’s shares rose 14.7 percent as a result.

: The video game maker grew by one percent. Citi had previously upgraded the stock from “neutral” to “buy”. The recent slump represents a buying opportunity.

: MicroStrategy slumped 8.1 percent after Bitcoin price fell over the weekend. The business analytics software company holds Bitcoin stocks in the billions.