By Yasin Ebrahim
Investing.com – The Dow fell below session lows on Monday as technology power offset the cyclical stock decline prior to the busy week of market movement data from Big Tech.
Although it fell by more than 300 points during the day, it fell by 0.33%, or 101 points. Increased by 0.17%, but increased by 0.50%.
Finance and energy are one of the largest circulation sectors in the deficit, the latter falling driven by falling oil prices amid continued concerns about the weakness of crude oil due to pandemics.
National Oilwell Varco (NYSE :), Devon energy (NYSE :) and TechnipFMC (NYSE :) decreased significantly, the latter decreased by another 6%.
Meanwhile, banks continued to lower their treasury and expanded trends in the wake of post-earning weakness as global growth concerns surfaced as regulations tightened.
Biden will sign a travel ban on most non-US citizens who have recently stayed in South Africa, as well as non-US citizens from the United Kingdom and Brazil, to prevent new virus strains identified in these countries on Monday. It’s a schedule. Because it is popular in this country.
Airlines have also plummeted as tighter regulations could prolong the recovery of global travel demand. American Airlines (NASDAQ :) and Delta Air Lines (NYSE :) fell more than 2%, while United Airlines (NASDAQ :) fell 4%.
With Republican opposition, the prospect of rapid deployment of further stimulus has diminished. Democrats are unlikely to get the 10 Republican votes needed to advance Biden’s $ 1.9 trillion plan.
“The size of this bill will be difficult to get bipartisan support. The provision to raise the minimum wage to $ 15 is already facing resistance from the Republicans. The Biden administration separates the bill. I expect it to be split into packages of. ” Wells Fargo (NYSE :) I said in a memo.
Meanwhile, Tech has held back the downside in a wide range of markets as Fab 5 traded almost positively before Big Week. Microsoft is set to report revenue on Tuesday after Closing Bell, and Apple and Facebook are set to report revenue on Wednesday.
Amazon.com (NASDAQ :), Microsoft (NASDAQ :), Apple (NASDAQ :), Facebook (NASDAQ :) traded at high prices, and Google’s parent Alphabet (NASDAQ :) was low.
In other news, GameStop (NYSE :) has risen 27%, followed by a short squeeze, paired with some of the 120% daytime surges. AMC Entertainment (NYSE :) has recovered 29% after signing a new funding agreement to alleviate liquidity issues, allowing cinema operators to continue without filing for bankruptcy.
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Dow will reduce some losses as Big Tech powers up ahead of Investing.com earnings
https://www.investing.com/news/stock-market-news/dow-cuts-some-losses-as-big-tech-powers-up-ahead-of-earnings-2398082 Dow will reduce some losses as Big Tech powers up ahead of Investing.com earnings