In the global markets, the United States stock market indexes began the year with gains with the Dow Jones Industrial Average, the S&P 500, and the Nasdaq 100 starting Monday’s trading session with fresh records.
Chinese markets traded higher on Tuesday on news that China’s three largest telecommunications companies won’t be delisted from the New York Stock Exchange.
The NYSE issued a press statement saying that after further consultation with relevant regulatory authorities it “no longer intends to move forward with the delisting action” concerning three Chinese telecommunication companies; China Telecom Corp. Ltd., China Mobile Ltd. and China Unicom Ltd.
In Japan, the stock market was mixed as investors continue to monitor the pandemic with expectations that the country’s authorities are set to declare a new state of emergency in Tokyo.
Tesla shares rose by more than 3% on Monday after the company announced on Saturday it had delivered about 500,000 vehicles in 2020.
Tesla also said it delivered a record number of vehicles in the fourth quarter of 2020 at 180,570.
Global Markets News
Google Staff Create Labor Union
For the first time, more than 200 Google employees on Monday said they decided to form a union.
“This is historic, the first union at a major tech company by and for all tech workers. We will elect representatives, we will make decisions democratically, we will pay dues, and we will hire skilled organizers to ensure all workers at Google know they can work with us if they actually want to see their company reflect their values.” said Dylan Baker, a Google software engineer.
Meanwhile, the United States Food and Drug Administration (FDA) has also announced that two coronavirus vaccines, those made by Pfizer-BioNTech and Moderna, have shown the effectiveness of around 95% in preventing COVID-19 infection in adults.
British Prime Minister Boris Johnson on Monday announced that England will enter a nation-wide lockdown aimed at curbing the spread of the coronavirus. People in England starting Tuesday will only be allowed to leave the house only to “shop for essentials,” work, if working from home is impossible, exercise, and “seek medical assistance.” Primary and secondary schools will close immediately as well.
Prices of precious metals rose on Monday with gold, platinum and silver posting the significant gains.
Investors have continued to turn to gold and other safe-haven assets amid persisting worries about the pandemic. It is important to note that investments in silver, platinum and palladium as the world pushes to switch to clean energy. Silver is used for manufacturing solar panels, while the automotive industry uses platinum and palladium to reduce engine emissions.