+8 C°
Traffic jam:   4

Stocks rise as oil hits 7-year high

5 October 2021
2 min.
Stocks rise as oil hits 7-year high

Stocks rise

US stock indices rose on Tuesday as the major averages are expected to stabilise at or near their lowest level in months. The Dow Jones Industrial Average rose 114 points, or 0.34 per cent, while the S&P 500 Index and the Nasdaq Composite rose 0.4 per cent and 0.45 per cent respectively. The rise came a day after the Nasdaq fell by more than 2%, continuing a fall from a high of 7.3% on 3 September, closing at its lowest level since 23 June.

Shares of energy-related companies, including ExxonMobil Corp., Halliburton Co. and Kinder Morgan Inc. rose after West Texas Intermediate crude hit a seven-year high, rising $1.02 to $78.64 a barrel.

Facebook Inc. was in the spotlight as a whistleblower was due to testify on Capitol Hill about the harmful effects of its platform a day after the social networking site and its Instagram and WhatsApp services were shut down for several hours.

Johnson & Johnson has filed an emergency authorisation with the US Food and Drug Administration for the booster vaccine against COVID-19 for people 18 years and older.

Lordstown Motors Corp. was downgraded by Morgan Stanley from 'hold' to 'sell' and given a $2 target price amid concerns over the planned sale of the company's Ohio plant for $230 million, or less than 20% of its value.

In deals, Qualcomm Inc. and investment firm SSW Partners agreed to buy Swedish automotive technology group Veoneer for $4.5 billion, up 18.4% from a July offer made by Canadian mobile technology company Magna.

Foreign markets were mostly higher. European stock markets rose across the board, with Germany's DAX 30 adding 0.42%, Britain's FTSE 100 adding 0.55% and France's CAC 40 up 0.82%.

In Asia, Hong Kong's Hang Seng rose 0.28% and Japan's Nikkei 225 fell 2.19%. China's Shanghai Composite was closed for the weekend.

Companies14 in the news

1 place
SSW Partners
2 place
4 place
6 place
Dow Jones
7 place
8 place
10 place
11 place
Kinder Morgan
12 place
13 place
Morgan Stanley
14 place


Rating companies
162 Mention
Dow Jones
124 Mention
47 Mention
43 Mention
38 Mention
33 Mention
32 Mention


News from GlobalNY.biz is the freshest and most relevant information about high-profile events in the region. The task of the resource's news feed is to convey to readers with maximum accuracy and objectivity information about important events in business, politics, economy, healthcare, culture and other spheres of life in New York.
GlobalNY.biz news is a coverage of economic processes taking place in New York, the latest news of public life, incidents and an overview of political events. New York news is information about the activities of small and medium-sized businesses, the work of housing and communal services and utilities, the implementation of significant projects.
The site's journalists describe not only the life of the region, but also talk about the current state of the US economy. Everything you need to know about innovations in the field of industry and agriculture, economy and power is collected in the "News" section at GlobalNY.biz.
New York news quickly informs the reader, shows the real picture and opens up hot topics. Communication with government structures and business enables us to provide our readers with reliable, information-rich material. The main page of the portal contains the key news of New York!
Alena Potapova

Development Director
Died this year
Born this year