Wall Street is moving forward

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Published on 3 augustus 2020 19:58 |
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NEW YORK (AFN) – The US stock markets were on gains on Monday during midday trading in New York. Just like at the end of last week, tech companies were the main focus of attention. In addition, partly due to better-than-expected figures for the industry, investors were able to put aside their concerns about the increasing number of virus infections in the world.

Around 19:30 (Dutch time), the Dow Jones index was 0.9 percent higher at 26,673 points. The broad-based S&P 500 rose 0.8 percent to 3,298 points. Tech fair Nasdaq won 1.4 percent to 10,894 points. With US politics still unable to reach an agreement on a new corona support package, tech companies are increasingly seen as a safe haven as they appear to be virtually immune to the economic downturn affecting many sectors.

Apple became the most valuable publicly traded company in the world on Friday thanks to a price jump of more than 10 percent and can once again count on attention. This weekend it was announced that the iPhone maker has bought a company that developed a technique to turn the iPhone into a payment terminal. With that, Apple could compete with payment company Square. The Apple share was up nearly 3 percent.

Microsoft

Microsoft (plus 4.6 percent) was also in the news. The software maker plans to acquire TikTok’s US, Canadian and Australian operations. This could prevent a ban on the social network by President Donald Trump. TikTok is controversial in American politics because it holds a lot of user data that could end up with the Chinese government through parent company ByteDance.

Not all major tech companies gained in market value. Google mother Alphabet went down almost 1 percent. Google’s parent company has taken a 6.6 percent stake in security company ADT. The tech company has 450 million euros for that. Alphabet can thus increase its reach in the home automation market. Alphabet also announced that it would sell billions of dollars in bonds. ADT shares, in turn, skyrocketed 60 percent.

The euro was worth $ 1.1752 against $ 1.1743 when the European stock markets closed earlier today. A barrel of American oil cost 2.3 percent more at $ 41.21. Brent oil rose 2.1 percent in price to $ 44.43 a barrel.

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  1. Beautiful, another ath on the nasdaq perhaps. Speculation is fun, dipping for a while and rocketing higher every time. Long live the big tech, powell and trump!

  2. Well you’re talking about trumpets. We sell Trumpies. Logs for heating and you don’t know what you’re going through. Violent or quick death.

  3. Phew, they do something on ws. They buy something that is left behind compared to the rest!
    What the hell are they doing there !!!!

  4. It’s very simple: they really want to go back to the Jan / Feb level. And that’s going to happen, too.

  5. Finishing the V-spike to perfection

  6. Nasdaq 100 is already way above that!

  7. Smaaltie wrote down 3 augustus 2020 21:15:

    Nasdaq 100 is already way above that!

    Doesn’t matter, NASDAQ 15000 / S&P 4000 is the only thing that can save Trump’s reelection. And if Biden still wins, the blow is all the greater and his presidency is immediately ruined. So win / win.

  8. Nowadays it is commonplace to always drop the prices in the last hour to give shorters good hope and then shoot up afterwards.

  9. nasdaq yes, I was more about sp500

  10. RodolfoBoxo wrote down 3 augustus 2020 21:47:

    Nowadays it is commonplace to always drop the prices in the last hour to give shorters good hope and then shoot up afterwards.

    You don’t follow the market, usually in the US or A it is up the last half hour with that money pump.

  11. Apache has found oil in Suriname for the 3rd time and the course of Apache continues to improve, I don’t read that somewhere … Fawaka?

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