The US stock market traded mixed on Wednesday pre-market session ahead of the release data on employment rate, services and manufacturing sectors’ activity, and crude oil stocks.
On Tuesday’s closing bell, the Dow rose 0.5%, notching a record close of 36,799.65 and hitting an intraday record earlier in the session. The S&P 500 was unchanged, with Ford Motor’s shares rising to a twenty-year high. On the other hand, the Nasdaq 100 fell 1.35% , pulled by plunging tech stocks.
Ford’s share price rose 11.7% after the company announced that it plans to nearly double the annual production capacity of its upcoming electric F-150 Lightning pickup to 150,000 vehicles per year by mid-2023. According to CNBC, this is already the second time the company has doubled production goals for the F-150, which will be released in the spring (up from an initial output of around 40,000 vehicles).
Pfizer Inc
Earlier on Tuesday, Pfizer Inc. announced that the United States government has “committed to purchasing an additional 10 million treatment courses of its COVID-19 oral therapy” Paxlovid. The latest order brings the total number of treatment courses that the US will be buying to 20 million. The first 10 million Paxlovid courses will be delivered by June, earlier than previously expected, while the second part of the order is estimated to be delivered by the end of September.
Nvidia
Nvidia Corporation on Tuesday unveiled new GeForce RTX 3080 Ti and RTX 3070 Ti laptop GPUs, as well as GeForce RTX 3050 GPU for desktop computers.
At the Consumer Electronics Show (CES) 2022, the tech company specified that RTX 3080 Ti will boast “16GB of the fastest GDDR6 memory ever shipped in a laptop”. Laptops with RTX 3080 Ti and RTX 3070 Ti cards will be available for purchase from February 1.
The RTX 3050 will have 8GB of GDDR6 memory and will be able “to power the latest ray-traced games at over 60 frames per second.”
READ; Wall Street opens 2022 higher as Apple Hits $3 trillion market cap
