Home » US stocks close: Dow, S&P rose more than 1%, many vaccine concept stocks fell sharply

US stocks close: Dow, S&P rose more than 1%, many vaccine concept stocks fell sharply

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On Friday, Eastern Time, the three major stock indexes all rebounded. The Dow and S&P rose more than 1%, and the Nasdaq also ended five consecutive trading days. This week, the Dow fell 1.4%, the S&P 500 fell 2.2%, and the Nasdaq fell 3.2%.

The U.S. stock market experienced a turbulent September. 10 of the 11 sectors of the S&P 500 Index fell in September. Among them, raw materials stocks fell 7.4% that month, and energy stocks were the best performing sector, with an increase of more than 9%.

Although the market had a good start in October, Peter Cecchini, head of research at Axonic Capital, believes that the problems that have plagued the market recently will not disappear easily. The large-scale fiscal stimulus during the epidemic has allowed the economy to sustain, but high inflation, supply chain crisis, and the new crown epidemic have not disappeared.

Merck announced the latest data on its oral new crown drug on Friday. The interim analysis of the Phase III clinical trial showed that the drug can reduce the risk of hospitalization or death for mild and moderate patients by 50%.

Many vaccine concept stocks fell sharply, Modena fell 11.37%, Novavax fell 12.40%, Vir Biotechnology fell 21.07%, BioNTech fell 6.67%,PfizerFell 0.19%, AstraZeneca fell 0.63%,JohnsonFell 0.64%.

  Market dynamics

As of the close, the Dow Jones Index rose 1.43% to 34,326.46 points; the S&P 500 Index rose 1.15% to 4,357.05 points;NasdaqThe index rose 0.82% to 14,566.70 points.

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  Hot stock performance

Large technology stocks generally rose,AppleRose 0.81%, Facebook rose 1.07%, Google rose 2.40%,MicrosoftUp 2.55%,NetflixUp 0.46%,AmazonFell 0.05%.

The poor performance of new energy auto stocks,TeslaFell 0.03%,Wei LaiThe car fell 0.70%,Xiaopeng MotorsFell 0.23%,Ideal carClosed flat, Nikola fell 0.47%,Faraday FutureFell 4.24%, Workhorse fell 3.53%, Lordstown fell 18.17%.

Popular Chinese concept stocks fell collectively,AlibabaFell 2.60%, Tencent’s ADR fell 1.59%,Jingdong3.07% lower,WeiboFell 2.84%,PinduoduoFell 2.78%,BilibiliFell 1.95%,BaiduFell 1.41%,New OrientalUp 1.95%,NetEaseFell 1.87%,Tencent MusicFell 1.66%,IQIYIFell 2.99%,DidiFell 2.70%.

  Company news

  [LordstownandFoxconnwillAmerican EnergyMinistry of loan application]

On Friday local time, electric vehicle start-ups Lordstown Motors and Foxconn stated that they plan toAmerican EnergyThe Ministry applied for a loan to modify the factory to manufacture electric cars.The U.S. government launched the Advanced Automobile Manufacturing Technology Loan Program (ATVM) in 2008, aiming to provideAmerican Automobile CompanyThe industry provides loan support. It is reported that the two companies will each seek a certain percentage of ATVM loans and bear the cost of obtaining ATVM loans.

  [Mersk’s oral new crown drug can reduce the risk of hospitalization or death by 50%]

On Friday, local time, well-known pharmaceutical company Merck and its partner Ridgeback Biotherapy announced that they have developed a drug for the treatment of new coronary pneumonia that can reduce the risk of hospitalization or death for mild and moderate patients by 50%. Boosted by this news, Merck’s shares closed up more than 8% on Friday. The drug, called Molnupiravir, is taken orally, and the two companies said that after the drug’s clinical trial results show convincing results, they will seek emergency authorization to use the drug in the United States despite the fact that it is used in the United States.

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  [GooglegaveupprovidingusersBankAccount plan]

According to media reports on Friday, Google has given up directly providing users withBankService plan.It is reported that the deadline for a series of plans has been postponed, and Google, which oversees the project, is complicated.ExecutivesResignation eventually prompted the company to abandon the project. A Google spokesperson confirmed the news on Friday, but declined to comment on the impact of executive departures.

  [SouthKorea’sSKBroadbandwillsueNetflixBecause “Squid Game” is too popular]

According to media reports on Friday, South Korean Internet service provider SK Broadband is suing the streaming giantNetflix, The reason is that the platform’s popular program “Squid Game” caused a surge in network traffic. SK Broadband requires Netflix to pay for maintenance costs caused by the surge in network traffic.Previously, Netflix’s co-CEO Ted Sarandos said that “Squid Game” is expected to become the most popular TV series on the platform

  [Coinbaseclaimsthatatleast6000customersareencryptedcurrencyStolen by hackers]

Cryptocurrency exchange Coinbase disclosed on Friday that between March and May 20 this year, hackers stole the accounts of at least 6,000 customers of the company. A Coinbase spokesperson said that the company immediately fixed the loophole and worked with these customers to regain control of their accounts and compensate them for lost funds.

  AppleFix the bug that iPhone 13 cannot be unlocked by Apple Watch]

  AppleThe company fixed a bug in the iPhone 13 on Friday that prevented users from unlocking their phones through Apple Watch while wearing a mask.

(Article Source: Interface News)

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