May 24, 2022

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A fresh start to the week on Wall Street

A fresh start to the week on Wall Street

After a mixed start on Wall Street, the three major indices rose after trading on Monday.

To conclude, the Dow Jones Industrial Average rose 1.87%. The broad S&P 500 index gained 1.18 percent, while the technology-heavy Nasdaq index gained 0.93 percent.

Thus, all three indices regained much of the decline from Friday of last week.

omicron

The first cases of Omicron were discovered in the United States last week, but fears of the new variant of the virus do not appear to have taken root among US investors.

Among other things, aircraft maker Boeing rose 3.72 percent. Shares of United Airlines and Delta Air Lines rose above eight and six percent, respectively, on Monday.

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.

On the other hand, the mood is different in New York City. On Monday, it was announced that Mayor Bell de Blasio will present one The requirement to vaccinate all workers in the private sectorRegardless of the size of the company.

– Omicron is here and appears to be highly contagious. On Monday, de Blasio said the timing is horrific given the winter months.

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Tesla fell weak

On Friday, it became known that Tesla chief Elon Musk In total, it sold Tesla shares for NOK 90 billionAfter he sold Tesla shares on Thursday for more than one billion dollars, equivalent to more than 9.2 billion crowns.

Ahead of the exchange’s opening, Reuters reported that US authorities had launched an investigation into Tesla, as a result of the company’s failure to inform shareholders “well enough” about the risks associated with fires in the company’s solar panel systems.

On Monday, Tesla shares fell 0.59 percent. The stock is trading at around $1,000, a drop of about 20 percent from its peak in early November.

Alibaba promotion after the resignation of CFO

Before the opening of the Wall Street stock market, it became known that Alibaba’s CFO Maggie Wu was resigning. This weekend, the company announced that it will be reorganizing into two units, due to the need to improve competitiveness.

Alibaba shares rose a total of 10.44 percent on Monday. (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.