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US equities maintain a strong rise after an early rally

In Tuesday afternoon trading, stock prices continued to rise significantly after showing a significant upward trend early in the session. With an upward move, the main average extends the rally seen in the previous session.

Currently, the main average is hovering firmly in the positive territory. The Dow is up 510.57 points or 1.5 percent to 35,737.60, the Nasdaq is up 480.42 points or 3.2 percent to 15,705.57, and the S & P 500 is up 98.16 points or 2.1 percent to 4,689.83.

Alleviates concerns about the effects of Omicron variants in coronavirus It contributes to the continued strength of Wall Street.

The signs that the variants cause mild symptoms helped to offset concerns that new stocks could hinder the recovery of the global economy.

Uncertainty about Omicron is market Last week, the key average reached its lowest level in more than a month.

The key average is still well below recent highs, and traders continue to take advantage of their recent weaknesses as an opportunity to pick up stocks at a somewhat reduced level.

Intel (INTC) is helping to lead the rally on Wall Street as semiconductor giants soared 4.1% on the day.

Intel’s surge came after the company announced its intention to go public in the United States in mid-2022 through an initial public offering of its self-driving car unit Mobileye.

In US economic news, the Commerce Department released a report showing that the US trade deficit narrowed significantly in October amid a surge in exports.

According to the report, the trade deficit decreased from the revised $ 81.4 billion in September to $ 67.1 billion in October. Economists expected the deficit to shrink from the originally reported $ 80.9 billion last month to $ 67.5 billion.

The trade deficit narrowed as exports increased 8.1% to $ 223.6 billion and imports increased 0.9% to $ 290.7 billion.

Sector news

With Intel’s support for the lead, semiconductor stocks rose sharply that day.

Reflecting the strength of this sector, the Philadelphia Semiconductor Index surged 5.2% to a new daytime high.

Networking stocks continue to show significant strength in afternoon trading, with the NYSE Arca Networking Index rising 4.2%. The index also hit a new high during the day.

Significant strength is also seen among oil services stocks, as reflected in the 3.7% surge in the Philadelphia Oil Services Index.

Oil service stocks are rising as crude oil prices soar and January-delivered crude oil soars from $ 3.03 to $ 72.52 a barrel.

Software, steel, computer hardware and biotechnology stocks are also showing remarkable power this day, rising alongside most other major sectors.

Other markets

In foreign trading, Tuesday’s trading saw a significant rise in the Asia-Pacific stock market. Japan’s Nikkei 225 index rose 1.9% and Hong Kong’s Hang Seng index rose 2.7%.

Major European markets also showed a strong upward trend on the day. The UK’s FTSE 100 index rose 1.5%, while the German DAX index and the French CAC 40 index rose 2.8% and 2.9%, respectively.

In the bond market, the Treasury is expanding the sharp recession seen in the previous session. As a result, the benchmark 10-year bond yield is the opposite of the price, rising 3.3 basis points to 1.467%.

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US equities maintain a strong rise after an early rally

Source link US equities maintain a strong rise after an early rally

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