Tech sector drives NASDAQ

The major Wall Street indices closed the session with strong gains as investors shook off some of the anxiety over the recent Omicron variant of Covid-19 and turned to the tech stocks that fueled the NASDAQ.

The technology index ended at 15,686.92 points, with an increase of 3.03%, its biggest intraday rise since March 9 when it rose 3.69% in a single day. In addition, it registered its second positive day and accumulates a 3.96% profit on both days.

The Dow Jones Industrial Average advanced 1.40% to 35,719.43 units, while the S&P 500 index rose 2.07% and closed at 4,686.75 points.

In addition, the US benchmarks accumulate double-digit increases in 2021. The S&P 500 rises 24.78%, the NASDAQ advances 21.71% and the Dow Jones accumulates 16.71% of gains so far this year.

The sectors that contributed the most to the performance of the S&P 500 were technology with a rise of 3.5%, consumer discretionary with a 2.8% increase and finance rose 1.8 percent.

Investors were also reassured by some positive news about the omicron variant of Covid-19, which had helped them flee the risk last week.

“A week ago we saw a huge omicron scare and for the next week it seemed to be very contagious, but less serious than people were concerned,” said Peter Tuz, president of Chase Investment Counsel.

The market incorporated news from South Africa, where preliminary data show that omicron may not be as serious as other variants, coupled with the fact that its dispersion around the world has not been as accelerated.

Earnings in Mexico

The Mexican Stock Exchange (BMV) ended the session this Tuesday with a moderate gain.

The stock market advanced in line with its peers in the United States, driven by a greater appetite for risky assets and a decreased fear of the Omicron variant of Covid-19.

The main index of the BMV, the S & P / BMV IPC, made up of the shares of the 35 issuers with the highest value by capitalization, rose 0.62% to 50,918.28 points.

For its part, the FTSE-BIVA index, of the Institutional Stock Exchange (Biva), rose 0.61% to 1,050.49 units. (With information from José Antonio Rivera)

In capitalization value

Tech companies earn $ 400 billion

Shares of top Wall Street-listed tech companies gained Tuesday, driving the NASDAQ Composite Index, generating a combined gain of $ 402.427 million in market value in a single day.

In a basket of 11 companies analyzed, the biggest gain was from chip developer NVidia, which advanced 7.96% on the day and closed at $ 324.27 per share. The second place went to the Latin American online trading portal, Mercado Libre, whose ADRs gained 5.95% to $ 1,178.26 on Wall Street.

Electric car maker Tesla was up 4.24% and earned $ 42.922 million in market value in one day. American Express sold for $ 166.95 and gained 3.90% in one day.

Shares of Apple gained 3.54% generating a gain of 96.141 million dollars in capitalization value, while Intel gained 3.10%, Alphabet, the parent of Google, increased 2.87%, Microsoft advanced 2.68% and earned 65.545 million dollars.

Intel’s announcement of plans to list its Mobileye self-driving vehicle unit next year sent its shares soaring and encouraged chip investors.

Investors were also reassured by some positive news about the Omicron variant of Covid-19, which had helped them flee the risk last week.

Before the market opening, the British pharmaceutical company GSK announced that an antibody-based therapy against Covid-19 that it is developing with Vir Biotechnology was effective against all mutations of the Omicron variant.

The news was coupled with a comment by the US government’s top epidemiologist, Anthony Fauci, that preliminary tests indicate that while Ómicron is likely to have a higher degree of transmissibility, it appears to be less severe.

In corporate matters, despite the fact that today the Amazon cloud unit suffered some interruptions causing the fall of some websites, the company rose 2.8 percent on the day. (With information from Agencies)

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