In early trading on Wall Street on Tuesday, the stock market rose slightly, making up for some of the decline from the previous day’s sharp decline.
The S&P 500 Index rose 0.2% at 10:13 am Eastern Time. The Dow Jones Industrial Average rose 135 points, or 0.4%, to 34,099, and the Nasdaq Index rose 0.2%. 4,444 healthcare companies helped drive the market’s gains. Johnson & Johnson’s stock price rose 1.2% after reports that a few months after the first dose of the vaccine, the immune response to strengthen its one-time coronavirus vaccine will be stronger. As the industry collapsed, 4,444 technology companies also rose due to the reversal on Monday. The yield of
10-year Treasury bonds remained unchanged at 1.31%. 4,444 European markets also rose, and most Asian markets rose. The Chinese market is closed for public holidays.
The market sell-off on Monday was partly due to concerns about debt-laden Chinese real estate developers and the damage they might cause by default, which caused ripples in the market. This has led to widespread concerns among investors, including highly contagious variants of Delta and higher prices that put pressure on businesses and consumers. Wall Street
also measures how a slowing recovery will affect the Fed’s policies, which support the market and the economy. The central bank is scheduled to issue a policy statement on Wednesday, which will pay close attention to signals that the Fed will reduce bond purchases, which will help keep interest rates low.
Several companies have made substantial profits after providing encouraging financial information to investors. Uber, the ride-hailing company, rose 7.7% after informing investors that it might achieve adjusted profits this quarter. Due to solid long-term growth forecasts, equipment leasing company Herc Holdings rose 4.9%.
Supply chain issues have damaged many industries and put pressure on many companies. Due to supply chain issues, housing deliveries in the third quarter were lower than analysts expected, and housing builder Lennar fell 1.4%. Due to the shortage of computer chips hurting the automotive industry, KAR Auction Services withdrew its financial guidance for this year and its stock price fell 1.2%.
Universal Music rose 37% on the first day of listing on the Amsterdam Stock Exchange.