spot_img

Dow Soars 500 Points As Omicron Fears Fade – Oil Tech Stocks Soar, Bitcoin Rebounds

U.S. stocks began Tuesday’s session in the green as the worst-case scenario for the Omicron variant now seems less likely. The Dow traded up 500 points at the start of trading, the S&P 500 gained 1.92%, or 88 points, and the Nasdaq Composite Index traded up nearly 3%, or 410 points. Investors seem to believe the market is poised for more growth in the months ahead.

GlaxoSmithKline, a British pharmaceutical company, stated that its COVID therapy is effective against the new variant.

U.S. Treasuries and Dollar

- Advertisement -

U.S. Treasury yields rose as investors rushed back into stocks. The yield on the 10-year Treasury rose 2 basis points. The dollar strengthened against other major currencies.

Price Chg. Chg. %
U.S. Dollar Index (DXY): 96.39 +0.06 +0.06%

 

Yield Change Previous close
U.S. 1 Year Treasury Bill 0.277% 0.02 0.257%
U.S. 5 Year Treasury Note 1.234% 0.024 1.210%
U.S. 10 Year Treasury Note 1.449% 0.014 1.435%

 

Stocks To Watch

- Advertisement -

Tech companies are benefitting significantly from the market rebound.

Shares of tech company Intel soared on the news that it would take Mobileye public. The IPO could value Mobileye, Intel’s self-driving car unit, at $50 billion. The move reflects the enthusiasm for self-driving tech, as major tech companies like Google and Tesla work on their own version. Intel intends to maintain the majority ownership of Mobileye.

Shares of Uber rose in premarket trading after spiking more than 7% on Monday. The jump was due to reports of potential outside investment in its Middle East unit Careem.

Shares of Twitter rose after reports that Cathie Wood’s ARK Investment Management is buying up the stock. On the other hand, the famous growth fund sold shares of Facebook, Amazon, and Tesla.

Shares of graphics card manufacturer Nvidia rebounded after yesterday’s 2% drop. Chipmaker AMD rebounded on tech surge as well.

Symbol Company Name Price Chg. %
INTC Intel Corp. $54.00 5.62%
TWTR Twitter Inc. $45.80 2.99%
UBER Uber Technologies Inc. $39.86 3.55%
NVDA NVIDIA Corp. $308.81 2.89%
AMD Advanced Micro Devices Inc. $141.87 1.97%

 

Commodities To Watch

Oil rose with stocks on lower Omicron fears. Gold rose. 

Resource Price Chg. %
WTI Crude Oil $71.50 2.89%
Brent Crude Oil $74.85 2.42%
Natural Gas $3.68 0.66%
Gold $1,783.50 0.22%
Silver $22.45 0.82%
Copper $4.36 0.55%

 

Crypto

The global crypto market cap rose 6.24%, as crypto markets recovered from Sunday’s selloff. 

Currency Symbol Price Chg. % Market Cap.
Bitcoin BTC $51,030.15 +4.80% 964.12b
Etherium ETH $4,370.49 +7.15% 516.87b
Binance coin BNB $580.81 +3.49% 87.32b
Solana SOL $200.13 +8.77% 61.22b
Cardano ADA $ 1.432 +9.34% 44.56b

SUBSCRIBE TO MY FREE NEWSLETTER

Liberals want to destroy America. Their radical agenda will pack our courts, change the voting laws, and take away our constitutional freedoms. That's why is important to Join My Newsletter and get the news directly from me.

David Marsanic
Freelance journalist, student of the Austrian school.

Related Articles

Stay Connected

137,091FansLike
692,511FollowersFollow
36,500SubscribersSubscribe
spot_img

Latest Articles

TRISH REGAN NEWSLETTER

Liberals want to destroy America. Their radical agenda will pack our courts, change the voting laws, and take away our constitutional freedoms. That's why is important to Join My Newsletter and get the news directly from me.

Get The Full Story From Me

Conservative Media is under attack from Big Tech. Please join my 100% FREE NEWSLETTER.

  • Trish Intel
  • Trish Regan
  • https://chrt.fm/track/23284G/traffic.omny.fm/d/clips/5e27a451-e6e6-4c51-aa03-a7370003783c/d93acfd6-a015-4c06-8697-ad42013d1e7d/d7521fc6-bde8-49e7-9288-ae15013548fc/audio.mp3