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Dow, S&P higher on support from energy shares even as tech struggles

By Ambar Warrick (Reuters) -Gains in energy stocks pushed the Dow Jones index higher on Monday and kept the S&P 500 in positive territory, with focus shifting to potential changes...
Dow, S&P higher on support from energy shares even as tech struggles © Reuters. FILE PHOTO: Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., August 27, 2021. REUTERS/Brendan McDermid/File photo

By Ambar Warrick

(Reuters) -Gains in energy stocks pushed the Dow Jones index higher on Monday and kept the S&P 500 in positive territory, with focus shifting to potential changes to corporate taxes and a clutch of data this week.

The Nasdaq, however, was pulled lower by a drop in major technology stocks, putting it on track for a fourth straight day of losses, as more regulations on major Chinese firms soured investor appetite.

Apple Inc (NASDAQ:AAPL) was among the top boosts to the tech-heavy index, rising 0.5% after a mixed court ruling in Epic Games' antitrust case against the iPhone maker knocked nearly $90 billion off its market value on Friday.

Sector-wise, the S&P energy was the best performer, gaining 3% as oil prices hit a one-week high on concerns over U.S. supply. Financial stocks rose 1%. [O/R]

Oil majors also got a boost after the U.S. government agreed to sell crude oil from the country's emergency reserve to eight companies, including Chevron Corp (NYSE:CVX) and ExxonMobil (NYSE:XOM) Corp.

Investors are expected to keep a close watch on data, including a report on consumer prices in August, due for release on Tuesday, that is likely to offer some cues on the Federal Reserve's decision on policy tightening. A Reuters poll expects the reading to be steady from July.

The Biden government's corporate tax hike plan and a Democrat-backed $3.5 trillion spending bill is also likely to be a point of focus this week.

"Current stock market valuations don't provide enough cushion for several near-term headwinds that are on the horizon, including the potential for tax hikes, negative profit warnings from companies and upcoming Fed tapering," said Richard Saperstein, chief investment officer, Treasury Partners.

Markets are set for near-term volatility, and that the next six weeks tend to be seasonally weak for stocks, Saperstein added.

Goldman Sachs (NYSE:GS) analysts are predicting that a hike in the U.S. domestic corporate tax rate to 25% and the passage of about half of a proposed increase to tax rates on foreign income would reduce S&P 500 earnings by 5% in 2022.

At 11:50 am ET the Dow Jones Industrial Average rose 258.79 points, or 0.75% , to 34,866.51, the S&P 500 gained 2.58 points, or 0.06 %, to 4,461.16 and the Nasdaq Composite lost 46.45 points, or 0.31 %, to 15,069.05.

Although a surge in economically sensitive stocks has put the S&P 500 on a seven-month winning streak this year, a recent spike in infections due to the spread of the Delta COVID-19 variant has dampened hopes of an economic recovery and threatened to derail the rally.

Market participants expect stocks to undergo a major correction by the end of the year after a strong bull run.

Among individual movers, biotechnology firm Regenxbio Inc surged nearly 30% after it entered into a partnership with peer AbbVie (NYSE:ABBV) to develop and sell a gene therapy candidate for the treatment of chronic retinal diseases.

Advancing issues outnumbered decliners by a 1.7-to-1 ratio on the NYSE and by a about a 1-to-1 ratio on the Nasdaq.

The S&P 500 posted 11 new 52-week highs and no new lows while the Nasdaq recorded 58 new highs and 68 new lows.

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28-09-2021 05:23:58 (UTC+7)

EUR/USD

1.1695

+0.0001 (+0.01%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (1)

Sell (5)

EUR/USD

1.1695

+0.0001 (+0.01%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (1)

Sell (5)

GBP/USD

1.3703

+0.0008 (+0.06%)

Summary

Neutral

Moving Avg:

Buy (10)

Sell (2)

Indicators:

Buy (1)

Sell (5)

USD/JPY

110.99

-0.01 (-0.01%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (1)

Sell (5)

AUD/USD

0.7288

+0.0002 (+0.03%)

Summary

Buy

Moving Avg:

Buy (8)

Sell (4)

Indicators:

Buy (4)

Sell (2)

USD/CAD

1.2628

+0.0001 (+0.01%)

Summary

Sell

Moving Avg:

Buy (1)

Sell (11)

Indicators:

Buy (0)

Sell (5)

EUR/JPY

129.80

+0.02 (+0.02%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (9)

EUR/CHF

1.0827

+0.0004 (+0.04%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (1)

Sell (7)

Gold Futures

1,750.70

+0.85 (+0.05%)

Summary

Neutral

Moving Avg:

Buy (7)

Sell (5)

Indicators:

Buy (4)

Sell (4)

Silver Futures

22.642

+0.005 (+0.02%)

Summary

Sell

Moving Avg:

Buy (4)

Sell (8)

Indicators:

Buy (3)

Sell (5)

Copper Futures

4.2785

-0.0012 (-0.03%)

Summary

↑ Sell

Moving Avg:

Buy (1)

Sell (11)

Indicators:

Buy (1)

Sell (7)

Crude Oil WTI Futures

75.45

+0.04 (+0.05%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (6)

Sell (0)

Brent Oil Futures

78.62

+0.01 (+0.01%)

Summary

↑ Buy

Moving Avg:

Buy (10)

Sell (2)

Indicators:

Buy (4)

Sell (1)

Natural Gas Futures

5.929

+0.069 (+1.18%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (9)

Sell (0)

US Coffee C Futures

194.98

+0.63 (+0.32%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (5)

Sell (0)

Euro Stoxx 50

4,165.48

+6.97 (+0.17%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (9)

S&P 500

4,443.11

-12.37 (-0.28%)

Summary

↑ Sell

Moving Avg:

Buy (3)

Sell (9)

Indicators:

Buy (0)

Sell (9)

DAX

15,573.88

+42.13 (+0.27%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (8)

FTSE 100

7,063.40

+11.92 (+0.17%)

Summary

↑ Sell

Moving Avg:

Buy (1)

Sell (11)

Indicators:

Buy (1)

Sell (7)

Hang Seng

24,208.78

+16.62 (+0.07%)

Summary

↑ Buy

Moving Avg:

Buy (10)

Sell (2)

Indicators:

Buy (8)

Sell (0)

US Small Cap 2000

2,281.79

+33.71 (+1.50%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (7)

IBEX 35

9,002.90

+129.80 (+1.46%)

Summary

Buy

Moving Avg:

Buy (7)

Sell (5)

Indicators:

Buy (4)

Sell (2)

BASF SE NA O.N.

64.740

+1.040 (+1.63%)

Summary

↑ Sell

Moving Avg:

Buy (1)

Sell (11)

Indicators:

Buy (1)

Sell (5)

Bayer AG NA

47.47

+0.99 (+2.13%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (9)

Sell (0)

Allianz SE VNA O.N.

196.19

+3.85 (+2.00%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (6)

Sell (2)

Adidas AG

278.80

-2.77 (-0.98%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (10)

Deutsche Lufthansa AG

6.561

+0.328 (+5.26%)

Summary

↑ Buy

Moving Avg:

Buy (11)

Sell (1)

Indicators:

Buy (7)

Sell (2)

Siemens AG Class N

147.27

-0.84 (-0.57%)

Summary

↑ Sell

Moving Avg:

Buy (1)

Sell (11)

Indicators:

Buy (0)

Sell (10)

Deutsche Bank AG

11.120

+0.285 (+2.63%)

Summary

↑ Buy

Moving Avg:

Buy (10)

Sell (2)

Indicators:

Buy (5)

Sell (3)

 EUR/USD1.1695↑ Sell
 GBP/USD1.3703Neutral
 USD/JPY110.99↑ Sell
 AUD/USD0.7288Buy
 USD/CAD1.2628Sell
 EUR/JPY129.80↑ Sell
 EUR/CHF1.0827↑ Sell
 Gold1,750.70Neutral
 Silver22.642Sell
 Copper4.2785↑ Sell
 Crude Oil WTI75.45↑ Buy
 Brent Oil78.62↑ Buy
 Natural Gas5.929↑ Buy
 US Coffee C194.98↑ Buy
 Euro Stoxx 504,165.48↑ Sell
 S&P 5004,443.11↑ Sell
 DAX15,573.88↑ Sell
 FTSE 1007,063.40↑ Sell
 Hang Seng24,208.78↑ Buy
 Small Cap 20002,281.79↑ Sell
 IBEX 359,002.90Buy
 BASF64.740↑ Sell
 Bayer47.47↑ Buy
 Allianz196.19↑ Buy
 Adidas278.80↑ Sell
 Lufthansa6.561↑ Buy
 Siemens AG147.27↑ Sell
 Deutsche Bank AG11.120↑ Buy
Mua/Bán 1 chỉ SJC
# So hôm qua # Chênh TG
SJC Eximbank5,665/ 5,715
(0/ 0) # 900
SJC HCM5,635/ 5,700
(0/ 0) # 885
SJC Hanoi5,635/ 5,702
(0/ 0) # 887
SJC Danang5,635/ 5,702
(0/ 0) # 887
SJC Nhatrang5,635/ 5,702
(0/ 0) # 887
SJC Cantho5,635/ 5,702
(0/ 0) # 887
Cập nhật 28-09-2021 05:24:00
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ↀ Giá vàng thế giới
$1,750.89+1.40.08%
Live 24 hour Gold Chart
ʘ Giá bán lẻ xăng dầu
Sản phẩmVùng 1Vùng 2
RON 95-IV2204022480
RON 95-II,III2194022370
E5 RON 92-II2071021120
DO 0.05S1658016910
DO 0,001S-V1693017260
Dầu hỏa1564015950
ↂ Giá dầu thô thế giới
WTI$75.48+0.220.28%
Brent$78.60-0.59-0.76%
$ Tỷ giá Vietcombank
Ngoại tệMua vàoBán ra
USD22.630,0022.860,00
EUR25.993,7727.346,60
GBP30.324,2231.591,18
JPY200,45212,05
KRW16,7520,39
Cập nhật lúc 18:54:42 27/09/2021
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