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July 11 (UPI) – As investors await major corporate revenues, the Nasdaq Composite secured a five-day win on Monday by investing in technology stocks.
The tech-heavy index fell 2.26%, the S&P 500 1.15% and the Dow Jones Industrial Average 164.31 points or 0.52%.
Twitter’s stock has shrunk by 11.4 percent after billionaire Elon Musk pulled out of a $ 44 million deal.
Tesla’s share fell 6.55 percent. Mook is the CEO of an electric vehicle manufacturer.
Elsewhere, Amazon shares fell 3.28% and Google parent alphabet fell 3.08%.
Disney shares fell 2.32% and Boeing did not fall 1.5%.
Winning resorts were down 6.46% and Las Vegas Sands was down 6.23%, while casino stocks were declining due to growing concerns about COVID-19 issues, including locked keys in China.
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Investors were eagerly awaiting revenue from Pepsi and Delta Airlines on Monday and Wednesday, followed by major bank shares JPMorgan Chase, Morgan Stanley, Wells Fargo and Citigroup later in the week.
“It’s always about revenue,” Mariner Wealth Advisors team Tim Lesco told CNBC. “It’s expected for a year, because it’s not about the sustainability of the income, it’s about the economic prospects of the future. Of course, the report that people have made on the income path doesn’t change. It was a speech. They look forward to seeing how their future work looks.”
Monday’s 2-year treasury was down 3.064% to 10-year, 2.98%, indicating a volatile economic downturn.
Investors are also looking forward to the June Consumer Price Index on Wednesday, which saw food and energy inflation rise to 8.8 percent.
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