After Monday’s plunge, U.S. technology stocks rebounded strongly, the Nasdaq has erased all of Monday’s losses in early trading, Apple and other leading technology stocks and Monday’s plunge in tesla and other new energy vehicle stocks rose, the Dow continued to rise. U.S. bond yields fell significantly, easing pressure on stocks.
The dollar retreated on Tuesday and cryptocurrencies such as bitcoin rose further, spurred by rising risk appetite.
U.S. Treasury bond prices rebounded, rising above 1.60% in Monday’s session forcing a one-year high in U.S. 10-year benchmark Treasury yields dipped Tuesday, European stocks had fallen below 1.53% during the session, refreshing the last four trading day intraday lows, the largest intra-day drop of more than 7 basis points, U.S. stocks opened with a narrower drop, regaining 1.55% in early trading.
Technology stocks lead U.S. stocks higher Electric cars, blockchain, popular Chinese stocks collectively higher
The three major U.S. stock indexes opened higher. The S&P 500 rose more than 2% in midday trading as it set a new daily high. The Dow Jones Industrial Average rose more than 340 points, or slightly more than 1% in percentage terms, as it set a new daily high. Nasdaq composite index rose about 3.8% when the new daily high.
Technology stocks for the heavy Nasdaq 100 index fell nearly 3% on Monday, compared with the record high in February fell 11%, fell into the adjustment range, Tuesday lunchtime once rose more than 4%, the largest intra-day gains since November last year. Its constituent Baidu once rose more than 12% in midday trading, after Hong Kong Stock Exchange documents show that it passed the Hong Kong Stock Exchange listing hearings.
S&P 500’s 11 major sectors rose in early trading, Monday fell more than 1% led by the decline in the information technology sector rose more than 3% to lead, non-essential consumer goods had also risen more than 3%, health care, telecommunications services, real estate, utilities and materials were up more than 1% in the plate, the lunchtime energy sector dragged down by the decline in Crude Oil turned down.
FAANMG six major technology stocks, Apple, Amazon intraday rose more than 4%, Facebook rose more than 3%, Microsoft, Nifty rose about 3%, Google parent company Alphabet rose more than 2%. Plunging chip stocks rebounded collectively, Nvidia rose more than 7%, applied materials rose more than 6%, AMD, NXP rose more than 5%.
A number of new energy auto stocks double-digit surge, Tesla had risen nearly 15% at midday, market value back above $ 600 billion, Azera rose more than 15%, Xiaopeng car rose more than 12%, ideal car rose more than 10%, Maverick electric rose more than 20%.
Monday’s high part of the retail hold stocks continued to move higher, Monday closed up more than 40% of the game post (GME) had risen more than 25% in early trading; Goss Electronics (KOSS) had risen nearly 10% in early trading, AMC was up more than 7%, 3B Home (BBBY) had risen nearly 7% at the beginning of the session, but turned down in early trading, BlackBerry (BB) had risen 6% in early trading.
Bitcoin (BTC) had risen above $54,800,000 before the U.S. stock market, a new high since February 22, the 24-hour cumulative gain had reached 5.7%, in some platforms such as Coin Security than the intra-day low back up more than $4000. Thanks to the higher bitcoin, a number of blockchain concept stocks surged, with Ninth City (NCTY) up 37%, Canaan (CAN) up 33%, Riot Blockchain (RIOT) up about 30%, and China Network Carrier (CNET) up 16%.
Popular Chinese stocks outperformed the broader market, with CQQQ and KWEB, Chinese ETFs that fell more than 7% on Monday, having risen more than 5% and 7%, respectively, during the day. Lychee had risen nearly 16% in early trading, the division announced last year’s fourth quarter revenue rose 15% year-on-year to 420 million yuan far exceeding market expectations, the quarter again achieved non-GAAP quarterly earnings, full-year revenue rose 27% to 1.5 billion yuan.
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