(Reuters) – The S&P 500 opened near record levels on Monday as equity markets looked to extend a recovery from the pandemic shock into the new year, while shares in heavyweight Tesla jumped after the electric carmaker posted bumper delivery numbers.
The Dow Jones Industrial Average fell 16.71 points, or 0.05%, at the open to 36,321.59. The S&P 500 opened higher by 11.96 points, or 0.25%, at 4,778.14, while the Nasdaq Composite gained 87.53 points, or 0.56%, to 15,732.50 at the opening bell.
Video: BoE becomes first major central bank to raise rates since pandemic (Reuters)
- Nasdaq ends lower for second day as Big Tech loses ground The Nasdaq ended lower for a second straight session on Tuesday, while the Dow and S&P 500 rose, as rising Treasury yields prompted investors to sell Tesla and other Big Tech names and buy less-pricey stocks. Conway G. Gittens has the details. Reuters
- U.S. challenges OPEC+ with coordinated release of oil from reserves The United States said on Tuesday it would release 50 million barrels of oil from strategic reserves in a coordinated move with China, India, South Korea, Japan and Britain to cool prices after OPEC+ producers rebuffed calls for more crude. Fred Katayama reports. Reuters
- Biden lauds Republican Powell’s ‘independence,’ including from Trump, in nomination U.S. President Joe Biden renominated Jerome Powell on Monday as chair of the Federal Reserve, saying “at times like these we need steady, tested, principled leadership at the Fed.” Reuters
(Reporting by Shashank Nayar in Bengaluru; Editing by Maju Samuel)