Brian Belski, chief strategist at BMO Capital Markets, explains how investors are pouring money into US funds and this is a good time to buy now.
US stock markets rose sharply in the afternoon as technology stocks strengthened their lead while bond yields fell.
| Ticker | Safety | Last | Alter | Alter% |
|---|---|---|---|---|
| Ek: DJI | DOW JONES AVERAGE | 32698.55 | +70.58 | + 0.22% |
| SP500 | S&P 500 | 3944.03 | +30.93 | + 0.79% |
| I: COMP | NASDAQ COMPOSITION INDEX | 13426.173602 | + 210.94 | + 1.60% |
The Dow Jones industrial average rose more than 50 points or 0.17%, while the S&P 500 and the Nasdaq Composite rose 0.73% and 1.6%, respectively.
The market trifecta comes with the 10-year yield trading 5 basis points lower at 1.68% as investors in the safety of the US Treasury moved to guard against possible volatility in overseas markets, caused by the Turkish president, Recep Tayyip Erdogan, who abruptly fires the country’s central bank. chief.
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In equities, technology companies with large capital, including Apple Inc. and Intel and Microsoft Corp., outperform the bond yields.
| Ticker | Safety | Last | Alter | Alter% |
|---|---|---|---|---|
| AAPL | APPLE, INC. | 123.25 | +3.26 | + 2.72% |
| MSFT | MICROSOFT CORP. | 236.40 | +6.05 | + 2.63% |
| INTC | INTEL CORP. | 66.22 | +2.46 | + 3.86% |
Elon Musk, CEO of Tesla Inc., said his company would not provide any information to the U.S. government collected by cars in China or other countries. The announcement follows the Chinese government last week restricting military personnel and government officials and some workers from state-owned enterprises from using Tesla vehicles due to privacy concerns.
| Ticker | Safety | Last | Alter | Alter% |
|---|---|---|---|---|
| TSLA | TESLA, INC. | 695.28 | +40.41 | + 6.17% |
Meanwhile, the flattening of the rate of return financials, including Dow components American Express Co., Goldman Sachs Group Inc. and JPMorgan Chase & Co.
| Ticker | Safety | Last | Alter | Alter% |
|---|---|---|---|---|
| AXP | AMERICAN EXPRESS CO. | 139.78 | -0.84 | -0.60% |
| GS | THE GOLDMAN SACHS GROUP, INC. | 337.96 | -6.46 | -1.88% |
| JPM | JPMORGAN CHASE & CO. | 151.12 | -2.99 | -1.94% |
In mergers and acquisitions, Kansas City Southern has agreed to be acquired by Canadian Pacific Railway Ltd. to be acquired in a $ 25 billion deal that would create the first U.S.-Mexico-Canada rail network. The deal, which values Kansas City Southern at $ 275 a share, a 23% premium to Friday’s closing price, will pay shareholders $ 90 in cash and 0.489 shares for each Kansas City Southern share.
| Ticker | Safety | Last | Alter | Alter% |
|---|---|---|---|---|
| KSU | KANSAS CITY SOUTH | 251.22 | +27.06 | + 12.07% |
| CP | CANADIAN PACIFIC RAILWAY LTD. | 364.45 | -13.98 | -3.69% |
In commodities, West Texas Intermediate crude changed little at $ 61.24 a barrel and gold slipped $ 4.00 to $ 1,739 an ounce.
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European markets changed little with the French CAC 40 down 0.27%, while the British FTSE 100 and the DAX 30 advanced 0.14% and 0.3% respectively.
In Asia, the Japanese Nikkei 225 lost 2.07%, the Hong Kong Hang Seng Index by 0.36% and the Chinese Shanghai Composite up 1.14%.