Tesla, Biden Infrastructure Investment Optimism Rises 5%... Mixed Trends in New York Stock Market (Comprehensive)

[Image source=AP Yonhap News]

[Asia Economy New York=Correspondent Baek Jong-min] The New York stock market closed mixed ahead of U.S. President Joe Biden's infrastructure investment announcement. While economically sensitive stocks showed weakness, tech stocks rallied.

On the 31st (local time), the Dow Jones Industrial Average closed at 32,981.55, down 85.41 points (0.26%) from the previous session. The S&P 500 index rose 14.34 points (0.36%) to 3,972.89, and the Nasdaq index increased 201.48 points (1.54%) to 13,246.87.

The Nasdaq index was once up more than 2%, showing strong performance, and the S&P 500 reached an intraday record high.

President Biden is scheduled to announce a $2 trillion infrastructure investment plan in Pittsburgh after the market closes. Ahead of the large-scale fiscal injection, the U.S. 10-year Treasury yield recorded 1.746%, slightly up from the previous day but with no significant change.

With anticipated investments in clean energy and electric vehicles, Tesla surged 5%.

By sector, energy stocks fell 0.9% due to a drop in oil prices, and financial stocks declined 0.9%. Technology stocks rose 1.5%, consumer discretionary stocks increased 0.83%, and utility stocks also rose 0.65%.

At the New York Mercantile Exchange, May West Texas Intermediate (WTI) crude oil prices closed at $59.16 per barrel, down $1.39 (2.3%).

This content was produced with the assistance of AI translation services.