The Dow Jones Industrial Average closed up more than 500 points overnight (Dec. 21) after President Joe Biden confirmed that US won’t lockdown countries to curb the spread of COVID-19 Just as it did in March. 2020 The market is also boosted by investors buying tech and travel stocks. as well as the strong performance of Micron Technology and Nike.
The Dow Jones Industrial Average closed at 35,492.70, up 560.54, or +1.60%, the S&P500 closed at 4,649.23, up 81.21, or +1.78%, and the Nasdaq closed at 15,341.09, up 360.14, or +2.40%.
Trading on the New York Stock Exchange was booming again last night. Because investors responded to the statement President Biden confirmed to Americans last night that The US government will not revert to lockdown measures as it did in March. 2563 along with asking for cooperation for people to receive booster needle vaccination to avoid the risk of hospitalization and death
Biden has also approved the distribution of 500 million free rapid tests for COVID-19 to citizens. Starting from Jan. 2022 and will send federal medical personnel to hospitals facing difficulties in handling large numbers of patients this winter.
Technology stocks rebound on strong buying power. after the stock price has fallen heavily in the past Apple was up 1.91%, Amazon was up 2 percent, Microsoft was up 2.31%, Netflix was up 1.88 percent, and Alphabet was up 1.32 percent.
Airline and cruise stocks also jumped on buying power. United Airlines was up 6.89 percent, American Airlines was up 4.79 percent, Delta Air Lines was up 5.91 percent, Carnival Corp was up 8.68% and Royal Caribbean Cruises was up 5.44%.
Energy shares jumped after WTI oil prices rose 3.7 percent on the night, with Halliburton up 3.94 percent, Exxon Mobil up 2.27 percent, Chevron up 1.6 percent and Konokofi shares. Lillis jumped 3.03%.
Micron Technology shares rose 10.54% after the company posted better-than-expected earnings. And is a factor supporting other chip companies to rebound as well. Qualcomm shares were up 1.65 percent, Nvidia was up 4.98 percent, Advanced Micro Devices (AMP) was up 6.22% and Intel was up 2.36%.
Nike shares rose 6.2 percent after the company released its fiscal second-quarter results ended Nov. 30, 2021, showing earnings per share of 83 cents, up from 78 cents for the same period. last year Sales rose to $1136 billion from $112 billion.
Investors eyeing US economic data this week. This includes November Nationwide Economic Activity Index from the Chicago Fed, Gross Domestic Product (GDP) Q3/21, November Used Home Sales, Consumption Expenditure Price Index. Individuals (PCE) Nov, durable goods purchases Nov, weekly jobless claims, Nov new home sales and the final consumer confidence index in December from the University of Michigan.