Large technology stocks rose across the board, with Facebook up over 4%, Amazon, Netflix, Google, and Microsoft up over 2%, and Apple up nearly 2%.
U.S. stocks opened higher and moved higher, the three major indexes closed up collectively, the Nasdaq rose 2.11%, and rose 4.14% this week; the S&P 500 rose 1.53%, and rose 3.65% this week; the Dow rose 1.19%, rising this week 2.66%. All three major indexes ended their three-week losing streak.
Large technology stocks rose across the board, with Facebook up over 4%, Amazon, Netflix, Google, and Microsoft up over 2%, and Apple up nearly 2%.
Tesla closed up 3.6 percent at $16 billion. Tesla Inc is considering building a lithium smelter on the Texas Gulf Coast, bolstering the company’s battery production efforts and further expanding its presence in Texas.
The company said it is considering building a “battery-grade lithium hydroxide refinery” in Nuezes County, according to a recent public filing with the Texas Comptroller’s Office for tax relief. Tesla claims it will be a “first of its kind in North America.”
Once built, the plant will process raw ore materials into a state suitable for battery production, Tesla said. Lithium hydroxide produced at the plant will be “packaged and transported by truck and rail to various Tesla battery production sites.”
According to another report, on the 9th local time, Tesla CEO Elon Musk’s lawyer said that Musk’s $44 billion acquisition of Twitter was due to Twitter’s recent agreement with a whistleblower and payment of $7.75 million to him. The company’s agreement has been terminated.
Apple Inc closed up 1.88% at $10.59 billion. According to reports, the Apple store opened pre-sale of the new iPhone 14 series at 8 p.m. on September 9. The results showed that the Pro model was the most popular, and the e-commerce platform was out of stock in just a few minutes. After half an hour, almost all the stores on the official website were out of stock. Shipping has also been scheduled for late October.
DA Davidson analyst Tom Forte maintained his buy rating and $185 price target on Apple after Apple launched the iPhone 14 lineup. The analyst told investors in a research note that the iPhone 13 lineup faces a number of issues after launch, including ongoing supply chain crunch, but the latest iPhone 14 should set the company up for the next 12 months, The premise is that the supply chain continues to improve, while Apple is able to deal with new challenges, such as the strength of the dollar.
According to another report, Russian sources said on Thursday that although Apple has withdrawn from Russia, the new iPhone 14 will be supplied to Russia through a parallel import mechanism, and Russians will have the opportunity to buy the new device. Apple products are now on the parallel import list.
Chip stocks ushered in a streak of gains, with the Philadelphia Semiconductor Index and semiconductor industry ETF SOXX closing up about 2.4%. Among the IT sector constituents of the S&P 500, Seagate Technology rose more than 4%, AMD rose more than 3%, Applied Materials rose nearly 3%, Intel, Nvidia, Qualcomm, Broadcom, and Ram Research rose more than 2%