Editor’s Picks, Stock News6:35 a.m.2023-11-21
The Dow Jones New York Stock Exchange index closed positive on Monday (Nov. 20), while the Nasdaq and S&P 500 index both rebounded strongly. This was supported by Microsoft shares rising to record highs. After it was reported that Mr. Sam Altman, former Chief Executive Officer (CEO) of OpenAI Company (OpenAI), will join Microsoft.
- The Dow Jones Industrial Average closed at 35,151.04 points, an increase of 203.76 points or +0.58%,
- The S&P500 index closed at 4,547.38 points, up 33.36 points or +0.74% and
- The Nasdaq index closed at 14,284.53 points, up 159.05 points or +1.13%.
The trading atmosphere on the New York Stock Exchange is lively. The Dow closed at its highest level since Aug. 9, while the Nasdaq closed at its highest level since July 31, while the S&P 500 closed at its highest level since Aug. 1.
Among the 11 stocks included in the S&P 500 index, the communications technology index rose 1.5%, led by Microsoft, which rose 2.05% and closed at a record high. While Indian stocks rose 2.3%, Apple shares rose 0.9%, Meta Platforms shares rose 1.47%, Netflix shares rose 1.84%.
Microsoft shares surge After Mr. Satya Nadella, CEO of Microsoft, said that Mr. Altman, former CEO of Open AI Company, and Mr. Greg Brockman, former chairman and co-founder Open AI will join Microsoft as leader of a new artificial intelligence (AI) technology research team.
OpenAI announced Altman’s firing last Friday. It claims the company lacks confidence in Mr. Altman’s ability to lead the company. Around 500 OpenAI employees have signed a letter threatening to resign. and will join Mr. Altman at Microsoft. Also included are OpenAI Chief Technology Officer Mira Murati, Chief Data Scientist Ilya Sutskever and Chief Operating Officer Brad Lightcap.
Boeing shares rose 4.6% after Deutsche Bank analysts raised the investment weight of Boeing shares to “Buy” from “Hold” and raised their price target for Boeing shares to “Buy”. $270 from $204
Boeing stock price received support from reports that Boeing received three times as many aircraft orders as French rival Airbus at the Dubai Air Show 2023 in Dubai, United Arab Emirates. The data shows that Boeing is returning to reclaim its position as the world’s largest aircraft manufacturer. After the company had performed poorly for many years. due to a scandal regarding aircraft safety systems
Investors are keeping an eye on the earnings report of Indian Company today (21 Nov.) as well as keeping an eye on the minutes of the US Federal Open Market Committee (FOMC) meeting for 31 Oct. – 1 May. September, which will be revealed today as well. To find signs indicating the Fed’s interest rate direction
The New York Stock Exchange will be closed on Thursday, Nov. 23, for Thanksgiving Day. (Thanksgiving Day) and will open for trading for only half a day on Friday, 24 Nov.
By InfoQuest News Agency (21 Nov. ’23)
Tags: dowjones, Dow Jones, stock market, New York Stock Exchange