Sunday, May 26

Wall Street Starts Off A Busy Week of Figures Slightly Higher

The stock exchanges in New York opened with small profits on Monday. Investors on Wall Street are a bit hesitant due to the busy data week with large companies such as Apple, Facebook, ExxonMobil and Amazon. Also, there is an interest rate decision from the Federal Reserve on Wednesday.


The American umbrella of central banks is expected to leave interest rates undisturbed, but the market is increasingly considering that these rates can rise faster than previously expected. The Fed may provide more clarity on this.

A few minutes after the opening bell, the Dow Jones index was 0.2 percent higher at 34,097 points. The broad-based S&P 500 climbed 0.2 percent to 4188 points, and technology exchange Nasdaq went up 0.1 percent to 13,956 points.

Of all heavyweights that give an update, it is the first turn for Tesla on Monday after the market. The electric car maker recently announced that it had delivered more cars than expected, and most analysts expect solid financial performance from the company. In the first minutes of trading, the stock already rose 2.4 percent, ahead of the numbers.

Johnson & Johnson (minus 0.2 percent) is also in the spotlight. The pharmaceutical group received approval again on Friday to use its Janssen corona vaccine in the United States. Competitor Pfizer is the subject of an investigation in Israel into possibly more cases of heart infections following the administration of that company’s corona vaccine. The Pfizer stock showed little movement.

Apple (plus 0.4 percent) announced its intention to open a campus in the state of North Carolina and hire thousands of people there. The tech company will further increase its investments in the United States in the coming years. Apple is also facing a competition complaint from German media companies following an update to the iOS operating system, requiring users to consent to collect data from those users. French media companies also complained about this earlier.

Leave a Reply