BMO Capital Markets chief strategist Brian Belski explains how investors put money in U.S. funds and is a good time to buy now.
US stock markets rose steadily at midday, as tech stocks solidified their leadership, while bond yields declined.
| Ticker | Safety | Last | Change | Change % |
|---|---|---|---|---|
| I: DJI | DOW JONES AVERAGE | 32710.08 | +82.11 | + 0.25% |
| SP500 | S&P 500 | 3946.51 | +33.41 | + 0.85% |
| I: COMP | NASDAQ COMPOSITION INDEX | 13435.917695 | +220.68 | + 1.67% |
The Dow Jones Industrial Average was up more than 50 points, or 0.17%, while the S&P 500 and Nasdaq Composite were up 0.73% and 1.6%, respectively.
The market triad comes with the 10-year yield trading lower by 5 basis points at 1.68% as investors have moved to the security of U.S. Treasury bonds to protect against potential volatility in foreign markets. caused by Turkish President Recep Tayyip Erdogan by abruptly dismissing his chief country’s central bank.
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In equities, mega-cap technology companies, including Apple Inc. and Intel and Microsoft Corp., outperformed bond yields as they fell.
| Ticker | Safety | Last | Change | Change % |
|---|---|---|---|---|
| AAPL | APPLE, INC. | 123.48 | +3.50 | + 2.91% |
| MSFT | MICROSOFT CORP. | 236.80 | +6.45 | + 2.80% |
| INTC | INTEL CORP. | 66.23 | +2.48 | + 3.88% |
Tesla Inc.’s CEO, Elon Musk, said his company would not provide the U.S. government with any data collected by vehicles in China or other countries. The announcement follows the Chinese government last week restricting military and civil servants and some workers from state-owned companies from using Tesla vehicles due to privacy concerns.
| Ticker | Safety | Last | Change | Change % |
|---|---|---|---|---|
| TSLA | TESLA, INC. | 696.71 | +41.84 | + 6.39% |
Meanwhile, the flattening of the yield curve is weighing on the financial sector, including components from Dow American Express Co., Goldman Sachs Group Inc. and JPMorgan Chase & Co.
| Ticker | Safety | Last | Change | Change % |
|---|---|---|---|---|
| AXP | AMERICAN EXPRESS CO. | 139.94 | -0.68 | -0.48% |
| GS | THE GOLDMAN SACHS GROUP, INC. | 338.30 | -6.13 | -1.78% |
| JPM | JPMORGAN CHASE & CO. | 151.20 | -2.91 | -1.89% |
In mergers and acquisitions, Kansas City Southern agreed to be acquired by Canadian Pacific Railway Ltd. in a $ 25 billion deal that would create the first US-Mexico-Canada rail network. The deal, which values Kansas City Southern at $ 275 per share, a premium of 23% over Friday’s closing price, will pay shareholders $ 90 in cash and 0.489 shares for each Kansas City Southern share. .
| Ticker | Safety | Last | Change | Change % |
|---|---|---|---|---|
| KSU | KANSAS CITY SOUTHERN | 249.99 | +25.82 | + 11.52% |
| PRAÇA | CANADIAN PACIFIC RAILWAY LTD. | 361.49 | -16.94 | -4.48% |
In commodities, West Texas Intermediate crude changed little, at $ 61.24 a barrel, and gold fell from $ 4.00 to $ 1,739 an ounce.
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European markets changed little with France’s CAC 40 weaker by 0.27%, while Britain’s FTSE 100 and Germany’s DAX 30 advanced 0.14 and 0.3%, respectively.
In Asia, Japan’s Nikkei 225 lost 2.07%, Hong Kong’s Hang Seng index fell 0.36% and China’s Shanghai Composite rose 1.14%.