Chinese firms pull Nasdaq 100 higher

Tuesday, 31. May 2022 18:19

The Nasdaq 100 was the only major United States stock market index in the positive territory at noon on Tuesday as Chinese companies Pinduoduo, JD.com and Baidu led the gains in light of the imminent lifting of the coronavirus-caused lockdown in China's key business center of Shanghai.

Meanwhile, other US markets slightly eased losses they had recorded shortly after the markets opened. Later, investors will be monitoring the outcome of the meeting between US President Joe Biden and Federal Reserve Chair Jerome Powell.

The Dow Jones Industrial Average index fell by 0.41% or 135 points, the Nasdaq 100 was 0.11% up and the S&P 500 declined 0.29% at 12:18 pm ET. The euro decreased by 0.41% to $1.07331 at the same time.

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Author:
Baha Breaking News (BBN) / MS