US stocks rose on Monday’s open as a new month of trading kicked off with economic data emerging.
Shortly after opening
Dow Jones Industrial Average
added 243 points, or 0.7%, while
grew by 0.5%, and
increased by 0.3%.
Stoxx Europe 600
rose 0.5%, London stocks closed in connection with the holiday. Asian markets were also drained by the holidays in several countries, including Japan, but stocks fell more than 1% in Singapore, Hong Kong and Taiwan.
These losses come amid a rise in the number of Covid-19 cases in some Asian countries, where vaccine adoption is slower.
Investors await Markit’s final April Manufacturing Purchasing Managers Index at 9:45 am ET, followed by the April Manufacturing Index by the Institute for Supply Management and the March Building Spending Index. The highlight of the week in big data is likely to be nonfarm payrolls data on Friday for April.
Several Federal Reserve officials will also speak this week, including Federal Reserve Chairman Jerome Powell, who will discuss community development at the National Coalition for Reinvestment Coalition 2021 conference for a fair economy.
Cryptocurrencies are back in the spotlight, according to CoinDesk, with Ethereum climbing to a new high for the first time, surpassing $ 3,000. The digital currency is up 323% this year, surpassing more than 100% growth for Bitcoin, which changed hands at $ 56,300.
Electric vehicle manufacturer promotions
(ticker: TSLA) fell 1.3%. A report from a German trade magazine says production at its new factory outside Berlin will be delayed for another six months.
(BRKA) reported that in the first quarter it made a profit from the growth in share price and the best results of its insurance business. Berkshire Chairman and CEO Warren Buffett touched on a variety of topics at Saturday’s shareholder meeting, including the recent euphoria of stock purchases and the conglomerate’s decision to withdraw from airline shares.
(VZ) sells its Internet divisions to Yahoo and AOL to a private equity group.
Apollo Global Control
(APO) for about $ 5 billion. Verizon shares rose 0.8%.
(MRNA) shares rose 4.7% after the company announced a deal with the Vaccine Alliance to supply 500 million doses of the Covid-19 vaccine.
(FDX) shares surged 2.2% after Wolfe Research upgraded them to Better over Peer Perform.
Shares (DKNG) gained 1.7% after upgrading their rating to Better than Market Perform at Cowen.
Shares (GOOGL) climbed 0.3% after being upgraded to Buy from Hold by China Renaissance.
Shares (CLX) fell 2.5% after being downgraded to Inadequate from Best by Wells Fargo.
Email Jacob Sonenshine at [email protected]