US stocks open mixed amid Biden’s European tour

The S&P 500 and Nasdaq rose moderately, while the Dow Jones, on the contrary, declined slightly.

Stock trading in the United States on Wednesday opened with a moderate increase in the S&P 500 and the Nasdaq electronic exchange, as well as a slight decline in the Dow Jones industrial index on the background of the start of the working trip of American President Joe Biden to Europe, during which he will hold a meeting in Geneva with Russian President Vladimir Putin.

In the first minutes after the start of the trading session, the Dow Jones index fell by 33.86 points (0.1%) and settled at 34,565.96 points. The S&P 500 index gained 2.45 points (0.06%) and was at 4,229.71 points. The Nasdaq rose 49.64 points (0.36%) to 13,860. 50.

According to experts, a relatively new phenomenon continues in the market, when investors, against the background of a lull, invest in small companies, around which there is a discussion on online forums. One of these companies is Clover Health Investments, whose quotes soared by 86% on Tuesday, and at the opening of trading on Wednesday rose by another 13%. At the same time, GameStop, which became the subject of proceedings in the winter, lost 1% after the start of the trading session. “We are seeing some areas where popular stocks are starting to contribute to the index or sub index,” The Wall Street Journal quoted Shaniel Ramji, chief investment officer at Pictet Asset Management, as saying.

WTI crude oil rose in price. By 09:48 US East Coast time, the price of energy supplies in July increased by $0.41 (0.59%), to $70.44.

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Author: Steve Cowan
Graduated From Princeton University. He has been at the Free Press since October 2014. Previously worked as a regional entertainment editor.
Function: Chief-Editor

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