Stock prices in the U.S. and mostly in Europe rose on Monday as U.S. tech companies rose before the upcoming release of the new iPhone.
Investor sentiment was also boosted by growing confidence that the US presidential election on November 3 will be the undisputed winner, and hopes that the US Congress will adopt a new economic stimulus package.
A new iPhone awaits Apple’s share price rose more than 6.4%, and the Wall Street index Nasdaq Composite rose 2.6%.
Analysts predict that Apple will launch a new iPhone 12 model in various sizes, which will be adapted to 5G telecommunications networks, and high demand for this model is expected in China.
Arts Hogan, chief market strategist at National Securities, said Joe Biden’s growing dominance in Donald Trump’s opinion polls suggested that an uncertain outcome was less likely and that Democrats would be able to take over the White House from Trump and perhaps gain a majority in the Senate.
The Frankfurt and Paris stock exchange indices rose, while the London stock exchange index fell after additional restrictions were imposed due to Covid-19 in several parts of the north of England.
Oil prices fell due to the prospect of further Covid-19 quarantine in many countries.
“More quarantine in the world could also affect economic growth, and oil prices have fallen today,” said Chris Bossamp, chief market analyst at online trading firm IG.
The Dow Jones Industrial Average rose 0.9% to 28,837.52 points on Monday, the Standard & Poor’s 500 rose 1.6% to 3,534.22 points, and the Nasdaq Composite rose 2.6% to 11,876.26 points.
The London Stock Exchange index FTSE 100 fell 0.3% to 6001.38 points on Monday, the Frankfurt stock exchange index DAX 30 rose 0.7% to 13,138.41 points, while the Paris stock exchange index CAC 40 rose 0.7% to 4979 , 29 points.
In the e-commerce of the New York Stock Exchange, the price of WTI crude oil fell by 2.7% on Monday to USD 39.49 per barrel. The price of Brent crude on the London Stock Exchange fell 2.6% to $ 41.74 a barrel.
The euro fell against the US dollar from 1.1826 to 1.1809 dollars per euro on Monday, the British pound against the US dollar rose from 1.3036 to 1.3066 dollars per pound, and the US dollar against the Japanese yen fell from 105.62 to 105.32 yen per dollar. The euro fell against the British pound from 90.72 to 90.35 pence per euro.
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