The White House hasn’t given up on its Build Back Better bill and is still trying to negotiate with Democrat detractors like Senator Joe Manchin
Tesla CEO Elon Musk said he has sold enough shares to reach his goal of selling 10% of his stake in the company. Musk said he had to sell shares to meet tax liabilities associated with the options expirations. According to the Securities and Exchange Commission filings, Musk has sold 583,611 shares. Tesla shares have fallen about 23% during this time.
Energy, technology, and consumer discretionary stocks were the top-performing sectors on the day with consumer staples and utilities being the only sectors to finish in the red. Energy stocks were aided by a 4.02% rise in oil prices . While rising tech stocks helped pull the NasdaqComposite up 2.40% and above its 100-day moving average, the rally was a little less broad on the Nasdaq exchange where advancers outnumbered decliners about 3 to 1.
However, COVID-19 continues to loom over these industry groups. The John Hopkins Center for Systems Science and Engineering reported a 16.5% increase in its rolling seven-day average of daily reported cases in the United States over the last two weeks. Fortunately, the seven-day rolling average of COVID-19 related deaths is down 22.3% over the same time frame. Finally, the U.S.
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