US Stock Market Today: Intel Shares Jump as Wall Street Indices Edge Lower
The US stock market witnessed a mixed trend on Monday, with the S&P 500 and Dow Jones Industrial Average opening lower after hitting an all-time high last week. However, the Nasdaq Composite Index opened higher but fell in the early minutes of trading. One of the major gainers of the day was Intel, whose share price extended gains and opened 2.9% higher at $25.50 after the US government acquired a 10% stake in the company last week.
Wall Street Indices: A Mixed Bag
The S&P 500 fell 0.22% or 14.07 points to 6,453.12, while the tech-heavy Nasdaq Composite was 0.20% or 33.84 points down at 21,471. The Dow Jones was down 0.25% or 111.99 points at 45,516 as of 6:26 p.m. IST.
Top Stocks in Focus
Netflix Inc. shares were trading 1.89% higher at $1,227.42, whereas tech giant Microsoft Corp. was trading 0.03% lower in the red at $507.06. McDonald’s and Johnson & Johnson were also trading 0.26% and 0.33% lower at $313.25 and $178.69, respectively.
Sectoral Indices: A Diverse Performance
Out of the 11 sectoral indices, nine were trading lower, while only two were trading in the green. Information Technology and Communication services were the only two exceptions, while Healthcare and Consumer Staples were the top drags among sectors.
Commodities and Currencies: A Mixed Trend
Brent Crude edged 1.15% higher to trade at $67.99 per barrel, while gold prices were trading flat at $3,373 an ounce. The Bloomberg Dollar Spot Index was little changed, while the British pound fell 0.1% to $1.3507 and the Japanese yen declined 0.4% to 147.49 per dollar.
Cryptocurrencies: A Bearish Trend
Bitcoin, the largest traded cryptocurrency, fell 1.3% to $111,262.04.
Implications for Indian Investors
The performance of the US stock market can have a significant impact on Indian investors, particularly those who have investments in US-based companies or are looking to diversify their portfolios. The acquisition of a 10% stake in Intel by the US government is a significant development that can have far-reaching implications for the tech industry and Indian investors.
Indian investors who are looking to invest in the US stock market should keep a close eye on the performance of Wall Street indices and major stocks like Intel. They should also be aware of the trends in commodities and currencies, as well as the performance of cryptocurrencies, to make informed investment decisions.
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