US President Joe Biden’s statements during the opening session of the week yesterday, Monday, supported the US stock markets, which recorded gains at the close, which compensated for a large part of the strong losses recorded at the end of last week, which was caused by the emergence of the new mutant Omicron, to record the Nasdaq Composite Index, which specializes in the technology sector, the largest daily gain He has had it since last May.
The US President, in his comment on the new Omicron mutant, stressed that his country does not need a complete closure or impose new restrictions during the winter, according to his opinion, at least until the moment. Biden indicated that the new mutant will reach the United States of America sooner or later, and urged Americans not to panic, stressing that the USA is working With pharmaceutical companies to develop contingency plans if new vaccines are needed.
Vaccine manufacturers (Pfizer-BioNTech-Moderna-Johnson & Johnson) announced that they are in the stage of studying the new mutant and working on a vaccine that targets the new mutant in the event that the current vaccine against it is not effective.
In terms of stock movement, the rises in the technology sector supported the S&P 500 and Nasdaq indexes, topping the technology sector first among the 11 sectors of the S&P 500, with gains estimated at 2.6%, supported by a rise in the Apple stock by 2.19% after some institutions raised the target price Shares in Microsoft rose by 2.11% and Alphabet shares by 2.35%.
On the other hand, Twitter’s stock fell by about 2.74% at closing at $45.78, after the social media company announced that CEO Jack Dorsey would step down.
The Dow Jones Industrial Average closed up by about (236) points at the close at 35.135 levels, with gains of about 0.68%, and is now trading in the futures for today’s session, Tuesday, at 35.125 levels, up by about 48 points.
On the other hand, the S&P 500 index recorded highs at the close at 4.655 levels, an increase of about (60) points or 1.32%, and it is now trading in futures at 4.659 levels, up by about 4 points.
While the Nasdaq index recorded gains of (291 points) to close the session at 15,782 points, recording a profit of about 1.88%, and it is now trading in the futures, up by about 10 points.
06/11/2024
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