The Stock Exchanges in New York Were Slightly Up on Tuesday

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The stock exchanges in New York were slightly up on Tuesday shortly after the opening bell.

 

With that, major stock market indicators are recovering somewhat from losses on Monday, when rising corona infections in Western Europe fueled fears of renewed lockdowns in significant economies.

Investors are now looking, among other things, to a statement by Jerome Powell, chairman of the American umbrella organization of central banks, in Congress.

Shortly after the opening of the session, the Dow Jones index recorded 0.4 percent higher at 27,251 points. The broad-based S&P 500 rose 0.6 percent to 3,302 points, and the Nasdaq technology exchange gained 0.5 percent to 10,836 points.

Powell said in a pre-published statement that the path to economic recovery from the corona crisis is long and very uncertain. While many economic indicators are pointing to improvement, employment and economic activity in the United States is still well below pre-crisis levels, Powell said.

Powell is also expected to point out the responsibility of government and politicians to come up with fiscal support. Democrats and Republicans have been at odds with each other for months about a new support package against the corona crisis.

Tesla went down 3.5 percent leading up to its Battery Day event. Before the presentation of news about his battery technology, CEO Elon Musk tempered the expectations about the ability of Tesla in the field of car batteries. The maker of electric cars will not make large-scale batteries for electric vehicles in the coming years, and Musk tweeted Monday.

Industry colleague Nikola lost 1.7 percent, after a loss of more than 19 percent on Monday. Securities and Exchange Commission (SEC) stock exchange regulator recently began an investigation into allegations of deception, fraud and deception at the company, and founder Trevor Milton has stepped down as chairman of Nikola.

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