Wall Street rose almost three percent in August despite today’s fall – E24

The decline came after the broad S&P 500 index and the heavy Nasdaq index set new records on Monday night.

This is how the big index in New York ended on Tuesday:

• Dow Jones down 0.11 percent
• Nasdaq down 0.04 percent
• S&P 500 down 0.14 percent

With that, the S&P 500 index, which covers the 500 most important companies in the US, rose 2.9 percent in August.

The industrial Dow Jones index rose 1.2 percent in August, while the heavy-duty Nasdaq rose as much as 4.0 percent.

Robinhood rose again after a sharp fall

On Tuesday, Robinhood and Zoom were among the companies that saw the biggest movements.

Robinhood has recently been sent off in severe weather after Paypal announced that they were considering launching a separate stock trading platform.

Paypal is already big in e-commerce and payment solutions, and is one of the companies Elon Musk was involved in starting up two decades ago.

A platform for stock trading at Paypal would mean tougher competition for Robinhood, among others.

Just before closing time on Monday night, Robinhood got another shot in the bow, when Finanstilsynet’s head of the USA said to news site Barron’s that it is up to consideration whether it will be illegal to charge for order flow.

A large part of Robinhood’s income is precisely the payment they take to send stock trades on to market tasters who carry out the trades themselves.

Robinhood ended Tuesday with a rise of 1.5 percent, and made up for the fall of over seven percent on Monday.

Zoom down sharply after number drop

The video conferencing company Zoom Video fell sharply after they published recent quarterly figures.

The quarterly report revealed that the company ended up with revenues of just over one billion dollars, or around 8.8 billion kroner.

That was 50 percent more than the same period last year, and more than analysts’ expectations.

At the same time, the profit ended at 317 million dollars, equivalent to 3.75 billion kroner. It amounts to just over one dollar per share, and is almost double from the second quarter last year.

Nevertheless, Zoom starts the last trading day of the month with a decrease of 16.6 percent.

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