US Stock Market Move | Bessent calms the market, large tech stocks generally rose, Meta Platforms (META.US) rose by over 3%.
Large technology stocks rose across the board on Monday.
On Monday, large-cap tech stocks rose across the board, with Meta Platforms (META.US) up over 3%, NVIDIA Corporation (NVDA.US) up over 2%, Tesla, Inc. (TSLA.US) up over 2.8%, Amazon.com, Inc. (AMZN.US) up 0.8%, Apple Inc. (AAPL.US) up over 1%, Alphabet Inc. Class C (GOOG.US, GOOGL.US) up over 1.2%, Microsoft Corporation (MSFT.US) up 0.29%, and Broadcom Inc. (AVGO.US) up 0.14%. In terms of news, US Treasury Secretary Janet Yellen's recent efforts to calm the oil market led to a temporary drop in WTI crude oil prices by 4% intra-day, easing concerns about uncontrollable inflation and boosting risk assets. Yellen stated in a recent interview that the Strait of Hormuz is facing supply challenges, but the current "natural openness" is temporarily easing extreme pressures. The US government has allowed Iranian oil tankers to pass through to maintain global energy supply balance and prevent prices from spiraling out of control. She mentioned that oil prices could be "far below" $80 in the next few months.
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HK Stock Market Move | KINTOR PHARMA-B (09939) falls by over 9%, the battle for the "strongest on the surface" whitening ingredient continues.
HK Stock Market Move | BRIGHT SMART (01428) rose more than 9% in the afternoon and the company is expected to become a cross-border wealth management platform for the Internet.
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