The news agency Bloomberg reported that Apple will drop a ten-year-old electric car venture. The investors liked that.
On Tuesday, it became known that the well-known store chain Macy’s will close 150 department stores. Photo: Halfdan Hallseth / E24 Published:
Yesterday 15:31
Updated just now
This is how the day ended for the benchmark indices on Wall Street on Tuesday:
- The Dow Jones falls 0.25 percent.
- Nasdaq rises 0.37 percent.
- The S&P 500 rises 0.17 percent.
On Monday, there was very little movement on the New York Stock Exchange and the day ended with a decline. Tuesday started mixed, and there were small movements throughout the day.
The computer chip company Nvidia, which received a lot of attention last week after its new top listing, climbed cautiously further. On Tuesday, the company ended somewhat down.
Crypto stocks rise
The price of bitcoin has risen by almost 10 percent in the last 24 hours due to demand from investors. On Tuesday evening, the bitcoin price is almost 57,000 dollars.
That makes it boil in the US crypto market.
Among other things, the crypto shares Cleanspark rose by 2.6 per cent, Coinbase by 2.7 per cent and Marathon Digital by 3.8 per cent.
MicroStrategy, a software company that buys bitcoin as part of its corporate strategy, said on Monday that it had bought about 3,000 new bitcoins this month. The company’s shares rose 9.4 percent on Tuesday.
Macy’s strategy pays off
The retail chain Macy’s announced on Tuesday that it will close around 150 department stores.
This as part of a strategy to increase sales growth. The chain will also open several luxury stores in other locations.
The company’s stock took a nosedive from the start. At the close, the company’s share had risen by 3.3 per cent.
Rumors of scrapping plans
On Tuesday evening, News Agency Bloomberg brought news from the intranet of the technology company Apple.
According to Bloomberg’s anonymous sources, Apple has internally announced that they are abandoning their investment in making electric cars.
Bloomberg further writes that several of the 2,000 employees who worked on the project will be moved to other parts of the company.
Apple has been working on the project since 2014, but the project has encountered several problems along the way.
Apple did not want to respond to Bloomberg’s inquiries.
The stock rose 1.2 percent after the news agency published its case, then fell slightly again. At the close, the share had risen 0.8 per cent during the day.
Inflation figures this week
This week, the focus is on various macro figures from the US.
Fresh inflation figures will arrive on Thursday. Then the central bank’s preferred measure of price growth, the PCE index, will be presented.
Both overall inflation (2.6 per cent) and core inflation (2.9 per cent) were below the magic limit of three per cent last time.
– It created great interest rate optimism and belief in imminent interest rate cuts in the market. But in recent weeks we have received many figures that point in the opposite direction, Kyrre Knudsen, chief economist at Sparebank 1 SR-Bank, told E24.
He then refers to employment, unemployment and price pressure.
On Wednesday last week, the Federal Reserve presented the minutes from the interest rate meeting at the end of January. The members of the interest rate committee indicated that they are in no rush to cut the interest rate.