Wall street climbs on positive news
Investing.com on Monday the stock market in the US started the trading week on the rise due to positive news from Boeing (NYSE: NYSE:BA) on the resumption of test flights on the 737 MAX. This news is supported, in particular, the Dow, where the aircraft manufacturer a lot of weight.
Another optimistic news came from the front against the coronavirus: the number of new infected in the United States contracted for the second consecutive day after a record performance in Friday: more than 42 thousand people. However, data over the weekend in the U.S. and other countries are often small, because the process of gathering information these days is slowing down.
At 09:35 Eastern time (13:35 GMT) the Dow Jones industrial average rose 179 points, or 0.7%, to 25,195 points. S&P 500 rose 0.2% and the Nasdaq Composite, which was the best among the three major indexes last week, lost some of its achievements and dropped by 0.3%, in particular, it has affected the actions of the social networks. They came under pressure amid growing boycott of advertisers of the company Facebook (NASDAQ: NASDAQ:FB). Its shares were down 3.1%, and Twitter shares declined 1.5%.
The company’s shares, producing “vegetable” meat Beyond Meat (NASDAQ: BYND), came under pressure after reducing its rating by two levels by analysts at Barclays (LON: LON:BARC), which stated that the supply chain of the usual meat recovered after the first wave of the pandemic. The company’s shares fell 10.5% to a minimum of a month.
Another outsider was Slack Technologies (NYSE: WORK), which fell by 6.4% — to two-week low after reports that its competitor Salesforce.com Inc (NYSE: NYSE:CRM) is developing a messaging system for a corporate client base. Slack has published disappointing figures for the quarter, which showed that she is fighting for the growing number of users.
Shares of Gilead Sciences (NASDAQ: GILD) rose 2.3% after the announcement of the price of the drug candidate for the treatment Covid-19 — ramdevpir, while shares in another company — Nikola — rose by 9.0% after reports that she was able to raise $5 000 to create trucks that run on hydrogen, despite the fact that they have not even effectively a working prototype.
A pioneer in the development of shale gas Chesapeake Energy (NYSE: NYSE:CHK) has applied for bankruptcy over the weekend. The company received financing in the amount of $925 million, which will allow her to continue some operations during the bankruptcy process. Analysts expect that about 200 shale companies will go bankrupt because of falling prices this year.
Author Jeffrey Smith