NIO Hits Records on Sedan Reveal; Twitter Pulls Stock Markets Down on Trump Ban
2021 has started out well for the stock market, but Monday brought a brief pause in the upward moves of many market benchmarks. Market participants appear to be slightly more realistic about how long it could take for the global economy to recover from the damage done by the COVID-19 pandemic, with prolonged high levels of unemployment creating challenges for millions of Americans. As of 11:30 a.m. EST, the Dow Jones Industrial Average (DJINDICES: ^DJI) was down 65 points to 31,033. The S&P 500 (SNPINDEX: ^GSPC) had fallen 14 points to 3,811, and the Nasdaq Composite (NASDAQINDEX: ^IXIC) had lost 93 points to 13,109.
Auto stocks are once again in the headlines, and the biggest news came out of China over the weekend. There, NIO (NYSE: NIO) made a big announcement that helped stoke excitement about its future. Meanwhile, Twitter (NYSE: TWTR) wasn't as fortunate, as investors wondered about the potential impact of a controversial move involving one of its most popular accounts.
Shares of NIO were up 8% on Monday morning. Investors reacted favorably to the company's annual NIO Day event, at which it unveiled a new vehicle that will break new ground for the Chinese electric vehicle specialist.
Source Fool.com