‘Barron’s Roundtable’ panel analyzes the headwinds and tailwinds facing the market
U.S. stocks rallied Tuesday as the major averages recouped most of their prior day’s losses.
The Dow Jones Industrial Average jumped 313 points, or 0.92%, while the S&P 500 index and the Nasdaq Composite index advanced 1.05% and 1.25%, respectively. The gains came a day after the Nasdaq plunged more than 2%, extending the decline off its Sept. 3 high to 7.3% while closing at its lowest level since June 23. All three of the major indexes finished just below their closing levels from Friday.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| I:DJI | DOW JONES AVERAGES | 34314.67 | +311.75 | +0.92% |
| SP500 | S&P 500 | 4345.72 | +45.26 | +1.05% |
| I:COMP | NASDAQ COMPOSITE INDEX | 14433.830112 | +178.35 | +1.25% |
In stocks, energy-related names, including Exxon Mobil Corp., Haliburton Co. and Kinder Morgan Inc., gained as West Texas Intermediate crude oil hit a seven-year high, up $1.31 at $78.93 a barrel.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| XOM | EXXON MOBIL CORP. | 61.62 | -0.10 | -0.16% |
| HAL | HALLIBURTON CO. | 23.41 | +0.39 | +1.69% |
| KMI | KINDER MORGAN, INC. | 16.92 | -0.02 | -0.12% |
Facebook Inc. was in focus after a whistleblower testified on Capitol Hill about the harmful effects of its platform a day after the social media site and its Instagram and WhatsApp services were knocked offline for several hours.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| FB | FACEBOOK, INC. | 332.96 | +6.73 | +2.06% |
Johnson & Johnson filed with the U.S. Food and Drug Administration for emergency-use authorization of a booster shot of its COVID-19 vaccine for people 18 years and older.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| JNJ | JOHNSON & JOHNSON | 159.58 | +0.36 | +0.23% |
Lordstown Motors Corp. was downgraded at Morgan Stanley from “hold” to “sell” and given a $2 price target amid concerns over the planned sale of the company’s Ohio plant for $230 million, or less than 20% of its value.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| RIDE | LORDSTOWN MOTORS | 5.20 | -0.65 | -11.11% |
In deals, Qualcomm Inc. and investment firm SSW Partners agreed to buy Swedish automotive technology group Veoneer for $4.5 billion, an 18.4% premium to a bid made in July by Canadian mobility technology company Magna.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| QCOM | QUALCOMM, INC. | 127.53 | +0.85 | +0.67% |
Overseas markets were mostly higher.
European bourses rallied across the board with Germany’s DAX 30 advancing 1.05%, Britain’s FTSE 100 adding 0.94% and France’s CAC 40 climbing 1.52%.
GET FOX BUSINESS ON THE GO BY CLICKING HERE
In Asia, Hong Kong’s Hang Seng index edged up 0.28% while Japan’s Nikkei 225 tumbled 2.19%. China’s Shanghai Composite was closed for holiday.
Stocks bounce back as oil hits 7-year high
Source: Viral Trends News PH
0 Comments