Chip rally on Wall Street that ended in the red – E24

At the same time, Boeing shares rose after announcing major changes in management on Monday morning.

The benchmark indices on Wall Street opened lower on Monday, and have mostly remained in the red. This is how it looks at closing time at 21:

• The collective index S & P 500 fell 0.30 percent
• The technology index Nasdaq fell 0.27 percent
• The Dow Jones index ended down 0.41 percent

It is a truncated week at the Stock Exchange in New York due to Easter winding up.

Oil prices have risen more than 1 percent since midnight. At the time of writing, a barrel of North Sea oil (burnt spot) is trading for 86.07 dollars.

Chip-up

Several chip stocks rose on Monday, and helped push the Nasdaq index into positive territory for a little while.

Among them were the giant Nvidia and the company Arm, which went public in September last year.

The Nvidia share rose 0.76 percent, while the Arm share climbed 3.10 percent.

The rise for Micron Technology was even steeper, and the share rose 6.28 per cent. The share has nearly doubled in value over the past year.

Trump stock jumped

The acquisition company Digital World Acquisition Corp (DWAC), rose more than 35 percent on Monday.

On Friday, shareholders approved a merger with former President Donald Trump’s company Trump Media, which owns the social media site Truth Social.

Trump Media goes public on Tuesday, and will trade under the ticker DJT.

Up after a change of manager

Boeing announced on Monday morning that they are making major changes in senior management.

CEO Dave Calhoun announced that he will step down and retire at the end of 2024.

The aircraft manufacturer has been in huge trouble in recent years, including after two fatal plane crashes and most recently a door plug that fell off an Alaska Airlines flight in January.

In a letter to employees, Calhoun writes that the Alaska Airlines incident in January was a turning point for the airline.

– Over the past five years, we have worked together to meet some of the biggest challenges the company has faced in its 108-year history, writes the CEO.

The company made several changes in top management. Chairman Larry Kellner announced that he will not run for re-election.

Stan Deal, head of the part of the company that produces aircraft for commercial operation, such as the problem plane 737 Max, also announces that he is also resigning from his position.

The share ended up 1.36 percent.