The $1.9 trillion U.S. stimulus is expected to hit the ground this week after getting passed by the Senate last weekend. Investors weighed the impact of the massive stimulus on Inflation and economic growth as U.S. stocks generally moved higher, with shares of GameStop soaring after it took action to accelerate its business transformation and other retail holdout stocks following, but technology stocks fell in unison during the session. Climbing U.S. bond yields continued to put pressure on stocks.
U.S. stock indexes expanded in the morning session after U.S. Treasury Secretary Yellen said the anti-Epidemic stimulus bill was unlikely to cause inflation problems.
Among the three major U.S. stock indexes, the Nasdaq Composite Index remained at the bottom of the performance on Monday, was the only stock index that opened lower that day, once down nearly 0.9% at the beginning of the session, opened less than 15 minutes after the short turn up, opened less than an hour after the turn up again, the short turn down at the end of the morning session, expanded losses at lunchtime, down nearly 1% when the new daily low. Leading technology stocks were mostly down. FAANMG six major technology stocks fell in the afternoon session, Apple once fell more than 3% to lead the decline.
The Dow Jones Industrial Average and the S&P 500 index opened higher, the Dow opened about an hour later has risen more than 400 points, up more than 600 points at lunchtime when the new daily high. Component stocks, disney rose more than 5%, Cisco rose more than 4%, Visa, Goldman Sachs rose more than 3%, Coca-Cola, Honeywell, Boeing, Mercer, WBA, JP Morgan Chase, Home Depot, 3M rose more than 2%.
The S&P 500 was up more than 0.9% at the end of early trading. Previously leading the broader market in succession, the energy sector was dragged down by Crude Oil futures that fell more than 1% during the session, becoming the only declining S&P 500 sector in early trading, turning up at midday, while the information technology sector turned down as many technology stocks fell, finance and materials rose more than 2% at midday, industrial, utilities finance, non-essential consumer goods had risen more than 1%.
Retail hold stocks rose collectively, early game station (GME) rose more than 30%, Goss Electronics (KOSS) had risen slightly more than 20%, Express had risen nearly 20%, AMC Theatres once rose more than 15%, Rocket, 3B Home (BBBY) had risen more than 8%. GameStop announced on Monday that it has formed a new version of its strategy committee to establish ways to accelerate the company’s transition to e-commerce, which will be chaired by Chewy co-founder Ryan Cohen, manager of RC Ventures LCC, who will be joined by Alan Attal and Kurt Wolf.
Top mid-cap losers, mid-cap ETFs CQQQ and KWEB had both fallen more than 6% intraday. Heilongjiang has fallen more than 10%, Beili Beili has fallen 8.5%, Tiger Securities has fallen more than 7%, Netease Youdao and Pindo have fallen more than 5%, Baidu, Tencent ADR and Jingdong have fallen more than 4%, and Alibaba has fallen 2.5%. And Peng car had risen more than 9% at the beginning of the session, the division announced four-quarter deliveries and revenue exceeded expectations, net losses narrowed significantly; two consecutive quarters of positive gross profit, double the annual revenue, and for the first Time to achieve a positive annual gross profit.
U.S. stocks in early trading Dow rose more than 400 points at the same time, the pan-European stock index Europe STOXX 600 index rose more than 2%.
U.S. 10-year benchmark Treasury yields on Monday generally upward, European stocks once regained 1.60% during the day, refreshing the daily high when approaching 1.62%, to last Friday rose to 1.626% set by the one-year high close, U.S. stocks opened back down to 1.60% below, still close to 1.60%, and regained 1.60% at lunchtime.
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