- The Nasdaq fell 0.64% to close Monday?s session at 14,486.
- Aspen Technology surged 12% on US$11bn merger deal with Emerson Electric.
- Southwest Airlines tumbled after cancelling 1800+ flights over the weekend.
The US markets started the week lower as investors? concerns over the rate of economic recovery were increased as Goldman Sachs lowered its projections for Q4 of FY21, stating COVID-19 impacting consumer spending and a drop off in government support as the reasons.
The price of Oil also rose to multi-year highs on Monday, up 1.5% above US$80/barrel as demand surges.
The Dow Jones fell 0.72% to finish the trading day down 250 points to close at 34,496 points.
The tech heavy NASDAQ fell 0.64% to finish the trading day down 93 points to close at 14,486 points.
One bitcoin is worth US$57,192 going into the Asian trading day, continuing its bull-run as speculation grows that the SCC will approve a Bitcoin futures ETF in the coming weeks.
The Australian dollar is firm against the major currencies and is buying 73.48 US cents.
Aspen Technology soared 12% yesterday after announcing an US$11bn merger offer with Emerson Electric. Aspen is the global leader in industrial optimisation software using AI to assist industrialists with making fuels, engineered materials and chemicals more efficiently. The merger of Emerson?s automation tools and processes with Aspen?s software enables greater access to broader markets.
Shares in Dallas-based airline, Southwest Airlines, tumbled more than 4% on Monday after the company cancelled more than 1800 flights over the weekend and a few hundred flights on Monday. Southwest Airlines cited ?air traffic control issues? and ?poor weather conditions? as the reasons for the cancellations, however Southwest was the only airline to make such drastic cancellations.
And Google has added a new guitar tuner feature to its search engine to help musicians tune their guitars on the go without the need for a tuning device.
By Grady Wulff