The Revival of US30 Stuck Because of This Factor!


 Early trading for the week saw major US stock indexes manage to make some gains.

This follows the hunt for bargain stocks by investors after the main benchmark suffered its worst weekly decline of the year last week.

At the opening of trading, all three major indexes showed a jump of more than 1%, before returning to reduce gains towards the close of trading in the New York session.

Dow Jones Industrial closed positive at 32,889 with an increase of 0.22%, while the S&P 500 rose 0.3% to 3,982.23 and the Nasdaq climbed 0.74% at 12,057.79.

Even so, the release of US durable goods orders data blocked the progress of the major indexes to rise further, including the US30 which had previously started trading stronger at the beginning of the session.

This follows a decrease recorded in January of 4.5% from an increase of 5.1% in December, while the core reading increased by 0.7%.

Tesla, which rose nearly 5% was among the biggest gainers in the S&p 500 in the previous session. The uptrend for this stock remains strong, which is bullish for the entire technology stock segment.

On the Nasdaq, Seagen Inc dominated with a 10.40% jump following reports that Pfizer was in early talks to acquire the biotech firm.