The Stock Exchanges in New York Started With Gains on Tuesday
The stock exchanges in New York started on Tuesday with gains on the new trading day. Tech stocks on Wall Street recovered significantly from the heavy losses the day before when the technology gauge Nasdaq plummeted.
The focus is still on bond markets, where rising yields have made the soaring tech stocks less attractive in recent weeks. As less risky US debt also yielded some returns to investors, tech funds were recently sold off.
On Monday evening, US Treasury Secretary Janet Yellen tempered fears of excessive inflation due to the gigantic economic support measures that the US wants to implement. It is, among other things, inflation expectations that can boost interest rates.
Shortly after the opening bell, the Nasdaq was up 2.6 percent at 12,619 points, after falling 2.4 percent a day earlier. Heavyweight Apple gained 2.5 percent, and Microsoft rose 2.3 percent. Amazon and Google parent Alphabet were also among the risers with profits of up to 2.6 percent.
The Dow Jones index also had a positive start with a gain of 0.4 percent to 31,917 points. The broad S&P 500 won 1.1 percent to 3864 points. Stocks that move more with economic developments are benefiting from the advancement of vaccination campaigns and the $ 1.9 trillion corona support. The House of Representatives will again vote on that stimulus package after adjustments in the Senate.
Video game chain GameStop won another 14.6 percent after a value increase of more than 40 percent on Monday. That day, the company, which rose earlier this year thanks to actions by forum members of Reddit, announced it had appointed a new strategic team for its transformation.
Chinese electric car manufacturers Li Auto, Nio and Xpeng, all publicly traded in the US, gained up to 8 percent. Sources told Reuters news agency that the business trio is working on IPOs in Hong Kong that could raise a total of $ 5 billion in the capital.