- Chip makers lift Wall Street
- Crypto correction continues
- UK markets finish lower
Chip makers lift NASDAQ
Both the SPX500 and DJ30 were flat yesterday, while the NASDAQ100 continued to eke out a lead in 2021 with a 0.6% gain, reaching another all-time high. So far this year, the NASDAQ100 is up by 5%, versus the SPX500’s 2.6% gain. Intel was among the top daily gainers, gaining more than 6%, after incoming CEO Pat Gelsinger said that the firm plans to outsource more of its chip production, although most of its chips in the next few years will still be made in-house. In addition to Intel, graphics chip maker Nvidia and AMD were both higher, at +3.8% and +3.1%, respectively.
Crypto correction continues
The crypto market was seen lower over the past 24 hours, as all top 10 cryptoassets registered noticeable losses. Bitcoin fell below $30,000 for the first time since reaching its all-time high, but later recovered slightly to trade above $31,000 at time of writing. The largest losses of the top 10 were registered by Bitcoin Cash, which was down more than 11% this morning.
UK markets finish lower
The UK100 was down 0.4% yesterday, however, the index’s 4% year-to-date gain is still outpacing the US SPX500 in 2021 so far. The fall followed the European Central Bank’s decision to keep interest rates steady, with ECB president Christine Lagarde warning that a surge in Covid-19 cases and the resulting restrictions will dampen economic activity. In the UK100, Rolls Royce, BP and British Airways parent IAG were the biggest fallers, losing 3.8%, 3.1% and 3% respectively.
- Apple reaches all-time high: The tech giant yesterday jumped nearly 3.7%, reaching a market cap of $2.3 trillion. The gains are attributed to positive sentiment ahead of the company’s earnings report next week.
- Solar companies continue to climb: The solar energy sector continues to show strong performance, as yesterday both SunPower and Sunworks showed tremendous gains, rising 17% and 25%, respectively. On eToro, investors can gain exposure to the green energy sector through the RenewableEnergy CopyPortfolio. For the most recent and significant price movements in markets, check out the Market Movers page on eToro.
Earnings seasons continues: To follow upcoming earnings reports, go to eToro’s Earnings Reports Calendar.