January 26, 2022

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Wall Street continues to rise - Nasdaq rose sharply

Wall Street continues to rise – Nasdaq rose sharply

The three leading stock indices rose from the start, and continued to rise throughout the trading day.

At the close, the Dow Jones Industrial Average closed at 1.43 percent. The broad S&P 500 Index is up two percent, while the tech-heavy Nasdaq is up as much as three percent.

The Nasdaq thus experienced its best trading day since March of this year, according to CNBC.

It happens on a good day in global stock exchanges. The main index on the Oslo Stock Exchange ended up 2.5 percent on Tuesday.

Tech arrow in the wind

So the Nasdaq Tech Index had the best day on Wall Street on Tuesday. The company Intel, which produces microprocessors, rose by more than three percent, after it became known that the company plans to include its investment in self-driving cars, Mobileye.

Earlier on Tuesday, it was announced that Morgan Stanley has raised Apple’s target price to $200 per share from $164 per share. According to Bloomberg, the brokerage house is positive about the company’s investment in new product categories within VR (virtual reality) and autonomous vehicles. Apple shares rose 3.54 percent.

Tech giants Microsoft and Amazon also rose more than 2% on Tuesday.

After a slight drop on Monday, Tesla shares are up again. The stock closed up 4.24 percent.

Mild concern of Omicron

At the close on Monday, US major indices had the indicators Most fall brought from last week Friday.

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Stock exchanges in the US were ahead of another good day on Tuesday in line with international developments. Concerns about the severity of the omicron virus variant appear to be easing somewhat, and China has promised to put in place measures to support economic growth, according to TDN Direkt.

There is a noticeably constructive tone in global markets. The key message is that the panic at the exit door for risky assets last week was an overreaction, chief economist Simon Ballard of First Abu Dhabi Bank tells Bloomberg News.

On Sunday, White House infection control adviser Anthony Fauci said the first data on the omicron variant is “encouraging,” according to CNBC. He is also said to have stated that while it is still too early to comment on the outcome of the Omicron outbreak, there does not appear to be a significant degree of seriousness in that.(Terms)Copyright Dagens Næringsliv AS and/or our suppliers. We would like you to share our cases using a link that leads directly to our pages. All or part of the Content may not be copied or otherwise used with written permission or as permitted by law. For additional terms look here.