Home Business Dow closed up 225.96 points, buying pressure on technology stocks to support the market : InfoQuest

Dow closed up 225.96 points, buying pressure on technology stocks to support the market : InfoQuest

by news dir

The Dow Jones Industrial Average closed higher on Aug. 20, boosted by higher tech stocks. But the Dow continued to close in a negative this week amid fears that The US Federal Reserve (Fed) may begin tightening monetary policy earlier than expected.

  • The Dow Jones Industrial Average closed at 35,120.08, up 225.96, or +0.65%.
  • The S&P 500 index closed at 4,441.67, up 35.87, or +0.81%.
  • The Nasdaq index closed at 14,714.66 points, up 172.88 points, or +1.19%.

But in this week The Dow was down 1.1%, while the S&P500 and Nasdaq were down 0.6% and 0.7%, respectively.

All 11 stocks of the S&P 500 index closed higher, with technology and utilities the biggest gains.

Investors buy technology stocks. And growth stocks were driven by lower US Treasury yields this week. because investors are worried COVID-19 epidemic May affect the economic recovery longer than expected.

Microsoft, Cisco and Salesforce stocks The most improved While the chip stocks also rose. Nvidia shares closed up 5.1%.

Tesla shares are up 1% after the launch of the chip and plans to build a humanoid robot.

Bristol-Myers Squibb shares were up 1% after the U.S. Food and Drug Administration (FDA) approved the company’s cancer drug Opdivo.

In addition, Chinese tech stocks also rose. After falling in the past due to China’s tightening regulatory measures. Tencent Music Entertainment Group, Titi Global and iQIYI shares rose 1.6-3.7 percent.

Investors will focus on meetings of central bank leaders. in Jackson City Hole in the US state of Wyoming next week. Fed Chairman Jerome Powell is expected to point out about the rate of economic recovery and the timing of monetary policy tightening.

By InfoQuest News Agency (21 Aug. 64)

Tags: Nasdaq, S&P500, Dow Jones, New York Stock Exchange

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