The New York Stock Exchanges Opened With A Profit on Monday
The New York stock exchanges opened with a profit on Monday, building on Friday’s pluses. Bargain hunters on Wall Street continue to look for opportunities to take advantage of the recent price falls.
Shortly after the start, the Dow Jones index recorded 1.5 percent higher at 27,568 points. The broad-based S&P 500 rose 1.4 percent to 3,342 points, and the Nasdaq technology gauge also climbed 1.4 percent, to 11,064 points.
On Sunday, a US federal judge temporarily blocked the Trump administration’s decision to ban the Chinese app TikTok from US app stores. His decision came hours before the ban on the popular video platform should take effect.
The American government has been threatening to ban TikTok for some time. According to the Trump administration, TikTok stores too much data, which would end up with the government of the Asian country via the Chinese parent company ByteDance.
Uber Technologies is also in the spotlight with a plus of 3 percent. The taxi company has returned its London taxi license. A British judge ruled that the company has done enough to meet the conditions. The verdict is a significant win for Uber. London is one of the most important markets for Uber.
Online shopping giant Amazon (plus 1.4 percent) also announced that it wanted to triple its workforce in Vancouver in the coming years. Currently, 2700 people still work for Amazon in the Canadian city. Software developers are relatively cheap and easy to find in Vancouver, which is why it is interesting for Amazon to expand so much here.
Tesla CEO Elon Musk also made himself heard. He thinks the electric car maker could produce 20 million cars annually by 2030, he said on Twitter. The goal is ambitious, as 365,000 Teslas rolled off the line last year. Tesla progressed more than 4 percent.