Here are five crucial facts investors need to know to begin the trading day:
1. Winner winner.
On Monday, the S&P 500 and Nasdaq Composite closed at record highs, up 0.26% and 0.35%, respectively, to 5,360.79 and 17,192.53. The Dow Jones Industrial Average rose 0.18% to close the trading day at 38,868.04.
2. The race is underway.
There’s a new competitor in the artificial intelligence weapons race. On Monday, Apple announced “Apple Intelligence” – its long-awaited AI software – at its annual Worldwide Developers Conference. Apple CEO Tim Cook emphasised privacy and personalisation with the system, shifting from AI to “personal intelligence.”
3. Elliott strikes again
Elliott Management has a fresh position, this time in one of the airlines. The activist hedge fund has acquired a $1.9 billion investment in Southwest Airlines, making it one of the airline’s largest shareholders. The company said in a letter and presentation on Monday that it is looking for outside candidates to replace CEO Bob Jordan and Chairman Gary Kelly.
4. Displaying promise.
A new vaccine may be available next year. Moderna claims that its combo vaccination, which tries to defend against both Covid-19 and the flu, was more effective in a late-stage experiment than existing vaccines that target each virus separately.
5. Restores
Baltimore’s primary shipping channel has reopened. Late Monday, the Army Corps of Engineers announced that the Fort McHenry Federal Channel, which was disrupted by the Francis Scott Key Bridge collapse on March 26, had been authorised for commercial transportation via the Port of Baltimore.
Source (CNBC)
