In U.S. stock trading on Monday, most of the leading tech stocks fell, with Apples share price rising 1.45% to $450.91, Googles parent company alphabet, up 0.11% to $1496.10, Amazon to $3148.16, down 0.61%, Microsoft to $208.25, down 1.99%, Facebook to $263.00, down 2.03%, Oracle to $54.94, down 0.53%, and IBM to close At $127.11, up 1.72%; Netflix closed at $483.38, down 2.29%; Tesla, down 2.35%; twitter, up 0.81%, Uber down 1.91%; LYFT, up 2.85%.
Among the leading chip stocks in the U.S., TSMC closed at $79.87, down 0.20%; NVIDIA closed at $446.60, down 0.31%; Intel closed at $49.22, up 2.48%; Broadcom closed at $327.36, up 0.44%; Qualcomm closed at $106.36, down 1.75%; Texas Instruments closed at $135.41, up 1.39%; amd closed at $82.24, down 3.08%; application materials Materials companies rose 2.63%; Meguiar technology rose 0.82%.
Following a sharp drop of 18.50% in the previous trading day, the online education institution continued to fall 9.75% today. Citron, a well-known short seller, was once again shorted by citron on Friday. Sohu fell 14.77%. The company released its second quarter financial report on August 10 (Monday) in Beijing time. The companys total revenue in the second quarter of 2020 was $421 million, a year-on-year decrease 9%, down 3% month on month.
In recent days of U.S. stock trading, value stocks have risen, and they tend to outperform growth stocks after a recession. The Russell 1000 value index rose 0.9% on Monday, while the Russell 1000 growth index fell 0.5%.
Paul Nolte, portfolio manager at kingsview investment management in Chicago, points out: part of the reason why the S & P 500 is blocked is that were starting to see another time when investors are turning to value stocks and away from growth stocks. This tends to drag down the index because it is dominated by big technology.
Bets on a potential new coronavirus vaccine, unprecedented fiscal and monetary support policies, and recent better than expected corporate earnings for the second quarter have brought the index close to its all-time high set in February this year.
Wall Street was strong last week. Last week, the Dow rose 3.8%, the biggest weekly gain since June this year; the S & I and the Na index rose 2.5% respectively. (Liu Chun)
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