September 19, 2021

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Wall Street rose nearly three percent in August despite today's fall - E24

Wall Street rose nearly three percent in August despite today’s fall – E24

In the last trading day of the month, the three major indices on Wall Street fell.

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The pullback came after the broad S&P 500 and the heavy Nasdaq hit new records Monday night.

This is how the big index ended in New York on Tuesday:

  • The Dow Jones Industrial Average fell 0.11 percent
  • The Nasdaq is down 0.04 percent
  • Standard & Poor’s 500 fell 0.14 percent

In doing so, the S&P 500 Index, which covers the top 500 companies in the US, rose 2.9% in August.

The Dow Jones Industrial Average rose 1.2 percent in August, while the heavy-duty Nasdaq rose as much as 4.0 percent.

Robinhood is up again after a sharp fall

On Tuesday, Robinhood and Zoom were among the companies that saw the biggest moves.

Robinhood was recently kicked out in severe weather after Paypal announced that it was considering launching a separate stock trading platform.

Paypal is already big on e-commerce and payment solutions, and is one of the companies Elon Musk co-founded two decades ago.

Having a PayPal stock trading platform could mean tougher competition for Robinhood, among others.

Just before closing time on Monday night, Robinhood got another shot in the arc, when the head of Finanstilsynet USA said Barrons news site It is up to you to consider whether it is illegal to charge an order flow fee.

A large portion of Robinhood’s income is precisely the amount they pay to pass stock trades to market makers who execute the trades themselves.

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Robinhood closed on Tuesday with a 1.5 percent increase, offsetting a drop of more than seven percent on Monday.

Sharply reduced after the number decreased

Zoom Video’s video conferencing company’s prices have fallen sharply After they published the last quarterly figures.

The quarterly report revealed that the company ended up with revenue of just over $1 billion, or about 8.8 billion crowns.

That was 50 percent more than the same period last year, and more than analysts’ expectations.

At the same time, profits closed at 317 million dollars, equivalent to 3.75 billion kroner. It’s coming in at just over $1 per share, and almost double what it was in the second quarter of last year.

However, Zoom starts the last trading day of the month with a decline of 16.6%.