Wall Street opened with moderate gains in key indices on Wednesday, despite the fact that the US Senate postponed a vote on an increase in stimulus payments to Americans. The situation remained favorable for smaller stocks as some investors avoided the larger players. Also a recent strain of coronavirus detected in the south of England earlier, and afterwards in several other countries around the world, appears to disrupt global as well as U.S. markets.
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The strain has now reached to the U.S. as Colorado Governor Jared Polis said that his state had detected the very first case of recent strain of coronavirus B117. This occurred in Washington after Joe Biden’s address, where he said that “Efforts to distribute and apply the vaccine are not progressing as they should” and “at the current pace, it will take years, not months, to vaccinate the American people.”
This factor also weighed on the investors decisions to go for stocks of relatively small stocks to make some profits.
On Wall Street on Wednesday, shares of energy companies were the leaders of growth in the first half of trading with Devon Energy Corporation ended the session at a rise of +5.42% to $16.14. Shares of Occidental Petroleum Corporation (OXY) surged by +3.89% to $17.91 while Diamondback Energy, Inc. (FANG) was up +4.83% to $49.27 at ring of the bell on the day. Shares of representatives of the sector jumped up on the background of statistics from the EIA, as well as the weakening dollar.
In addition, part of the strategy “US. Balanced” available only to qualified investors, shares of Jacobs Engineering Group Inc. (J), advanced by +0.24% to $107.49.
Among the stocks which suffered on the day were shares of Akamai Technologies, Inc. (AKAM) which fell by -1.93% to $104.65. Charter Communications, Inc. (CHTR) was down -1.73% to $653.49, Intel Corporation (INTC) lost -1.3% to end the session at $48.75 and Kellogg Company (K) saw a drop of -1.22% to settle at $61.53.