The new strain of COVID-19 crashed the market. Stock indices, shares of airlines and tourist businesses, futures for Brent and WTI headed down. Certain tech companies and vaccine makers profit from the situation, though. Tech analysis of American stock indices for 29.11.2021.
The shares of Match Group, Ceridian HCM Holding, and Brown & Brown are reacting to the news about the companies being included in S&P 500. Rebalancing will happen on September 20th. The companies will replace Perrigo Company, Now, and Unum. Tech analysis of Match Group, Ceridian HCM Holding, and Brown & Brown.
On Friday, such stock indices as S&P 500, NASDAQ Composite, and Dow Jones Industrial Average demonstrated serious growth, beating records. They reacted to the speech of the Fed head Jerome Powell at Jackson Hole. Tech analysis of US indices for August 30th, 2021.
On July 21st, Moderna will join the S&P 500 index. This news made its shares go up by over 10%. Tech analysis of Moderna shares for July 19th, 2021.
Which companies got on the list?
At the beginning of June, one stock of Tesla (NASDAQ: TSLA) cost 1000 USD. It took the company 10 years to reach this stock price; moreover, two months later, the stock price reached 2000 USD.
As the saying goes: “Only the first million USD is hard to earn”.
It has been a week since I posted my previous article but the S&P 500 stock index has managed to decline from 2800 to the low of 2475. On the whole, since February 20th, the decrease in the S&P 500 has amounted to 28%, which is the greatest decline of the index in the last 10 years. The current situation can easily be called a crisis, and its reason is not some overheated economy or a bubble in some sector but a virus.
The time has come for coronavirus to influence the quotations of stock indices as well. While a month ago these were just rumors, now investors are seriously worried about the probable troubles of Chinese companies.