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US stocks recover following last Friday’s sold out

During Monday’s trading, stocks almost rose and regained ground following the sold-outs seen in the previous session. The Dow has fallen sharply from its highest level since then, but all major averages have turned up at the start of trading.

Currently, the tech-heavy Nasdaq is up 178.24 points (1.2%) to 15,669.90 and the S & P 500 is up 35.04 points (0.8%) to 4,629.66. The Dow, on the other hand, jumped nearly 400 points in the open and then rose 45.03 points or 0.1 percent at 34,944.37.

Bargain hunting contributed to Wall Street’s early strength after the plunge seen last Friday lowered its key average to its lowest closing price in at least a month.

New detection news coronavirus Traders were worried that the pandemic would continue to have a global impact, so the variant contributed to the sold-out seen in the previous session. Economy..

The new Covid variant, assigned the Greek letter Omicron, has been labeled by the World Health Organization as a “variant of concern”.

WHO describes the global risk posed by the Omicron mutant as “very high” due to the high number of mutations that “may be associated with the potential for antigenic escape and higher infectivity”. Did.

However, South African doctors who treated early cases of the new variant said BBC countries could “unnecessarily panic” and the symptoms she saw were “very mild.”

The National Association of Real Estate Agents released a report in US economic news showing that pending home sales far exceeded expectations in October.

According to the NAR, the pending home sales index fell 2.4% to 116.5, revised in September, and then rose 7.5% to 125.2.

Economists expected pending home sales to increase by 1.0% compared to the 2.3% drop initially reported last month.

A pending home sale is a home sale that has a contract but has not yet been signed. It usually takes 4 to 6 weeks to end the contract sale.

On this day, software and semiconductor stock prices rose sharply, contributing to the tech-intensive Nasdaq surge.

Both the Dow Jones US Software Index and the Philadelphia Semiconductor Index are up 1.8%, reflecting the strength of the sector.

Meanwhile, tobacco inventories fell steadily over the course of the session, dropping the NYSE Arca Tobacco Index by 1.8%.

Despite rising precious metal prices, gold stocks are also on the decline, with the NYSE Arca Goldbug Index falling 1.3%.

In foreign trade, stocks market During trading on Monday, it fell almost across the Asia Pacific region. Japan’s Nikkei 225 index fell 1.6%, while Hong Kong’s Hang Seng index fell 1%.

Meanwhile, all major European markets moved upwards that day. The UK’s FTSE 100 index has risen 1.2%, while the French CAC 40 index has risen 0.5% and the German DAX index has risen 0.3%.

In the bond market, government bonds have receded after soaring in the previous session. As a result, the benchmark 10-year bond yield is the opposite of the price, rising 4.2 basis points to 1.524%.

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US stocks recover following last Friday’s sold out

Source link US stocks recover following last Friday’s sold out

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