Mixed on Wall Street | FinanceAffairs.com

Mixed on Wall Street |  FinanceAffairs.com

The 10-year bond yield fell to 4.246 percent, while the 30-year bond yield fell to 4.375 percent on Monday.

FAANG stocks

The largest technology companies have accounted for much of the US stock market's rise in recent years. The owner of Facebook Meta, Amazon, Netflix, Apple, and Alphabet (also known as FAANG stocks) had a mixed day on the stock market on Monday.

  • Facebook shares rose 0.83 percent to $498.91.
  • Amazon shares fell 1.86 percent to $185.57.
  • Apple shares rose 0.31 percent to $208.14.
  • Netflix stock fell 2.29 percent to $2.49.
  • Alphabet shares fell 0.23 percent to $179.22.

Apple shares rose despite the European Commission saying on Monday that the iPhone maker's App Store rules violate EU technology rules because they prevent app developers from directing consumers to alternative offers.

IBM

IBM was lifted by Goldman Sachs, giving a buy recommendation and a price target of $200. The stock rose about 2 percent to $177.36. Analysts at the bank believe the market has confused cyclical risks with chronic risks in the US IT services sector, and see this as an opportunity for select companies such as IBM and Globant. In return, Thoughtworks and TaskU receive sales recommendations. The remaining companies in coverage — Accenture, Cognizant, EPAM Systems, and Softchoice — receive Neutral ratings.

Broadcom

Broadcom shares fell more than 3% after Reuters reported that the chip maker is working with Chinese technology company ByteDance to develop an advanced artificial intelligence processor, even as the United States seeks to limit exports of these key chips to its main economic rival.

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Eli Lilly

Eli Lilly shares rose about 1 percent after the pharmaceutical company said that its weight-loss drug Zibond solved the problem of sleep apnea in up to 52 percent of patients.

oil and gas

The August contract for West Texas Intermediate oil rose 1.18 percent to $81.68 per barrel. While Brent crude rose 0.95 percent to $86.05 per barrel.

The price of US natural gas rose 4.44 percent to $2.82 per barrel. Million British thermal units. European natural gas (TTF) rose 1.22 percent to 34.59 euros/MWh.

encryption

Bitcoin fell 7.29 percent to 58,433.3 points, while Ethereum fell 4.55 percent to 3,321.62 points.

Dalila Awolowo

Dalila Awolowo

"Explorer. Unapologetic entrepreneur. Alcohol fanatic. Certified writer. Wannabe tv evangelist. Twitter fanatic. Student. Web scholar. Travel buff."

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