US stocks rose in the same direction this Monday morning (8), while Tesla’s shares fell 4.54%, at 11:47 am, Brasília time.
The S&P 500 grew 0.17%, to 4,705 points. The index hit a record high last Friday (6) after data from the US Department of Labor showed that job growth picked up in October.
The Nasdaq rose 0.25%, to 16,011 points, and the Dow Jones traded up 0.35%, to 36,454 points.
The indices primarily reflect the end of the US swing season. According to FactSet data, about 82% of the companies that make up the S&P 500 reported results above analysts’ forecasts.
Another point that catches the attention of US investors on Monday is the statement by the chairman of the Federal Reserve of St. Louis, James Bullard, who said he expected the Fed to raise interest rates twice in 2022, after ending its reduction in buying of bonds in the middle of the year.
“If inflation is more persistent than we’re saying now, then I think we may have to act a little earlier to keep inflation in check,” Bullard said in an interview with Fox Business Network.
At the last Fed meeting, the Central Bank of the United States kept the interest rate between 0 and 0.25% per year
Another focus of the US market is the bipartisan project of two US senators that seeks to make it difficult for large technology companies to do M&As.
The office of Democratic senator Amy Klobuchar, who chairs the US Senate’s competition defense committee, announced last Friday (6) that she and Republican Tom Cotton have submitted a bill that targets companies such as Alphabet, Google’s holding company, and Facebook.
In the realm of equities, US investors did not have a good eye for the joke of Elon Musk, CEO of Tesla, who posted on Twitter last Saturday (6), whether he should sell his shares in the technology company. The result of the poll was 57.9% yes and 42.1% no.
The billionaire, whose estimated fortune by Forbes is $318.4 billion, said he “was prepared to accept any of the results” in a social media post.
Tesla shares traded on the pre-market lost 5.2%, ahead of the bell on Monday (8).
Much is made lately of unrealized gains being a means of tax avoidance, so I propose selling 10% of my Tesla stock.
Do you support this?
— Lorde Edge (@elonmusk) November 6, 2021
* With Reuters
Reference: CNN Brasil
I am Sophia william, author of World Stock Market. I have a degree in journalism from the University of Missouri and I have worked as a reporter for several news websites. I have a passion for writing and informing people about the latest news and events happening in the world. I strive to be accurate and unbiased in my reporting, and I hope to provide readers with valuable information that they can use to make informed decisions.
