US stock markets were positive overnight, with the technology sector gaining 1% as the reflation trade peters out.
The S&P 500 added 0.2% but the Dow Jones fell 0.4% after a number of countries around Europe and Asia banned British travellers amid a surge in COVID-19 cases in the country despite their solid level of vaccination. Cruise operators and airlines both sank on the news.
Facebook hits US$1 trillion
Facebook (NASDAQ: FB) was the news of the day, with the share price jumping 4.2% and becoming the third company to reach a market cap of US$1 trillion.
The surge came as the company had two anti-monopoly cases against them dropped in the US, ensuring its dominance of ads is set to continue.
More records topple
The US markets are nearing one of their best half years in history with just three days of trade remaining, with the S&P 500 and Nasdaq having hit 32 and 18 new records this year alone.
US stock market movers
Here’s how other popular US stocks started the week on Monday.
- CoinBase (NASDAQ: COIN) up 9.9%
- NIO (NSYE: NIO) up 9.6%
- Etsy (NASDAQ: ETSY) up 7.4%
- NVIDIA (NASDAQ: NVDA) up 5.0%
- Booking Holdings (NASDAQ: BKNG) down 3.4%
- Royal Caribbean (NSYE: RCL) down 6.5%
- Carnival (NSYE: CCL) down 7.0%
Back home on the ASX, the S&P/ASX 200 (ASX: XJO) is poised to open lower on Tuesday. For all the latest, read Rask Media’s daily ASX 200 morning report.
