The Dow Jones New York Stock Exchange closed positive tonight (Feb 1), boosted by a surge in tech stocks. Amazon.com shares, in particular, jumped more than 4 percent before the company released its earnings today.The market was also positive, with mining stocks rebounding after silver prices surged. Reaching 8-year highest level due to retail investor orders
The Dow Jones Industrial Average closed at 30,211.91, up 229.29, or + 0.76% .The S&P 500 closed at 3,773.86, up 59.62, or + 1.61% .The Nasdaq closed at 13,403.39, up 332.70, or + 2.55%.
The 11 stocks calculated in the S & P500 index all rose. Led by the tech stock index surged more than 2.5 percent, with Amazon.com shares soaring 4.26 percent, Alphabet shares jumped 3.6 percent, Microsoft shares jumped 3.32 percent, Apple shares plus 1.65 percent. Facebook rebounded 1.42%, Netflix shares gained 1.25%.
Mining stocks jump Led by Freeport-McMorgan shares, up 4.95 percent, Alco Inc. shares jumped 4.5 percent. United States Steel shares jumped 2.08 percent, with mining stocks boosted by metal prices. The silver hit an eight-year high after retail investors in the US stock market set new targets for silver to push prices up. After adopting a similar strategy to GameStop stocks to preach a large hedge fund that is often speculated by short selling.
Shares of GameStop, a prominent US video game store, tumbled 30.77 percent, helping to ease concerns about market volatility. After GameStop’s share price has soared over the past few months. Due to retail investors in the room WallStreetBets With more than 7.6 million members on the Reddit forum, it aims to push GameStop’s share price higher to pressure the hedge fund to buy back the stock to cut losses. After it had been selling short before, it was speculated that GameStop would soon shut down.
The market is also optimistic about the bright US economic data, with IHS Marquit indicating that the US Manufacturing Purchasing Managers Index (PMI). It rebounded to 59.2 in January from 57.1 in December, with the January PMI being the highest since data collection began in May 2007.
The US Department of Commerce said. Construction spending rose 1.0 percent in December on a monthly basis to $ 1.5 trillion. This is the highest level since data was collected in 2002 and is 0.9% higher than analysts had forecast after a 1.1% gain in November.
Investors keep an eye on the progress of the White House stimulus package. The latest report states that Ten Republican Senators have called on President Joe. Biden lowered the limit on the stimulus package from $ 1.9 trillion. To be able to pass approval from the House of Representatives and the US Senate
Investors are also looking forward to this week’s US economy data, which includes the January private employment figures from ADP, the January purchasing managers’ index (PMI) final services from Marquis. T., January service index from the US Supply Management Institute (ISM), weekly unemployment claims, factory orders in December. And numbers of non-agricultural employment in January
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