1 June 2021
4037
1 min.
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Stock market rises
The US stock market is rising on Tuesday after the US Memorial Day holiday weekend.
The Dow Jones Industrial Average index was up 157.57 points (0.46%) at 34687.02.
The Standard Poor's 500 rose 17.58 points (0.42%) to 4221.69 points.
The Nasdaq Composite added 77.85 points (0.57%) to 13826.59 points.
On Tuesday, the May value of the ISM Manufacturing activity index in the USA is expected to be published. In addition, the US unemployment figures for last month will be published this week. US labour market stats will likely be crucial for the Fed as it develops a plan to roll back stimulus measures that have supported the economy and markets for more than a year, The Wall Street Journal writes.
Shares of US cinema chain AMC Entertainment Holdings Inc. were up 15 per cent on Tuesday after the company said it had raised $230.5 million through a sale of new shares.
Cloudera Inc. shares jumped 24.1 per cent. Private equity funds KKR Co. and Clayton Dubilier Rice (CD&R) are buying the developer of cloud-based business platforms for $4.7bn.
Shares in Chinese electric car maker NIO Inc. are up 7% in New York trading. The company increased deliveries by 95% year-on-year in May. Citi analysts upgraded their recommendation for the company's stock to "buy" from "neutral".
The market value of Boeing Co (NYSE:BA). is up 3% after Cowen upgraded its outlook on the company's stock to "above market" from "on par with the market".
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