Monday 1 March 2021
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- 1 month ago

Tech stocks climb in volatile trading as investors await mega-cap earnings

Summary List Placement US stocks were mixed in a volatile trading session on Monday as investor anticipation grew for the upcoming earnings reports from mega-cap tech giants later this week. An epic short-squeeze rally in a number of smaller companies led by GameStop marked a wild Monday for the stock market. Sign up here for our daily newsletter, 10 Things Before the Opening Bell. US stocks ended Monday mixed in a volatile trading session as investors anticipate an avalanche of earnings reports from mega-cap tech giants. Technology stocks led the market higher throughout Monday, with the Nasdaq 100 Index surging as much as 1% before paring gains. The wild trading session was marked by an epic short-squeeze rally in small companies like GameStop, which surged as much as 145% to an all-time-high on no official news. Here s where US indexes stood after the 9:30 a.m. ET open on Monday: S P 500: 3,855.34, up 0.36% Dow Jones industrial average: 30,960.36, down 0.12% (36.62 points) Nasdaq composite: 13,635.99, up 0.69% Read More: BANK OF AMERICA: Buy these 31 unheralded stocks as the recovery s hottest trades of recent months continue to gain strength in 2021 Investor enthusiasm in shares of GameStop also spilled over to other stocks with high short-interest, like BlackBerry, AMC Entertainment, and Bed Bath and Beyond. The rally in cryptocurrencies spilled over to Ethereum on over the weekend, with the crypto asset hitting new record-highs and soaring as much as 21% in a single day. While stocks continue to move higher, analysts at Goldman Sachs are warning investors that a vaccine resistant COVID-19 strain could cut 2021 growth by more than a third. Moderna surged as much as 12% after the healthcare company said its COVID-19 vaccine likely protects against variant mutations found in the UK and South Africa. Oil prices jumped. West Texas Intermediate crude gained as much as 0.98%, to $52.75 per barrel. Brent crude, oil s international benchmark, rose 0.74%, to $55.82 per barrel. Gold was down as much as 0.09%, to $1,854.30 per ounce. Read More: A notorious market bear who called the dot-com bubble says he sees fresh deterioration in the market indicator that first signaled the 1929 and 1987 crashesJoin the conversation about this story NOW WATCH: Why thoroughbred horse semen is the world s most expensive liquid


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