Global Market Round Up || Us Stocks Start Week On Hesitant Note As Blue-Chips Retreat

This is the global markets roundup. Lets get started with the US markets.

• The S&P 500 was down 0.08% to 4,226.52. The Dow Jones Industrial Average declined 0.36% to 34,630.24. The NASDAQ Composite Index gained 0.49% to 13,881.72, and the small-cap Russell 2000 was up 1.43% to 2,319.18.

• In a significant move, the group of seven developed economies, or the G7, has agreed on a proposal over the weekend to back a minimum 15% corporate tax rate on overseas income of big companies. The plan was originally pushed by the Biden administration. The current inflationary pressures may have also contributed to investors’ concerns. Economists believe President Biden’s trillions of dollars of spending in the economy may further push up the costs of essential commodities. Besides, the ongoing shortage of labor and raw materials giving rise to price volatility in the markets, they say.

• Meanwhile, the New York-based investment firm Blackstone Group Inc. announced on Monday that it plans to acquire data-center operator QTS Realty Trust for US$6.7 billion in an all-cash transaction. QTS shares jumped around 21% after the announcement.

• Other major price gainers included the Switzerland-based Biogen Inc., whose shares gained 38.34% after the Food and Drug Administration (FDA) approved its Alzheimer's medicine Aducanumab, the first drug to get authorization in nearly two decades for the disease.

• Other healthcare stocks also saw modest gains in Monday’s session. Shares of Eli Lilly and Company soared jumped 10%, while Clover Health Corp. rose 32.44%. Stocks of video gaming company GameStop Corp. rose 12%, while the shares of Chinese EV maker NIO Inc. rose 4.17%.

• Tech giant stocks declined 0.26% after the news of the G7 corporate tax trickled in. However, Microsoft Corp. (MSFT) gained 1.20, Facebook, Inc. (FB) gained 1.89%,, and Alphabet Inc. (GOOG) gained 0.58%..

• The S&P 500 segments, such as basic materials, consumer cyclicals, energy, and industrials, pushed back, while healthcare and real estate were among the biggest gainers on NASDAQ.





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