Intel shines on Wall Street after announcing new top man

Chipmaker Intel was a striking riser on Wall Street Wednesday. The company announced that former technology director Patrick Gelsinger will become the new top man. With this, it clearly got the hands of investors together. The share won almost 7 percent, also because the company said performance will be higher than expected in the coming quarters.

The leading Dow-Jones index went down a fraction of the trade at 31,060,47 points. The wide S&P 500 rose 0.2 percent to 3809.84 points. Techgrade meter Nasdaq went up 0.4 percent to 13.128.95 points.

GM won just 2 percent. The automaker is getting into electric driving with the new subsidiary BrightDrop. BrightDrop focuses on the market for vans with a plug. It also becomes active in the field of fleet services and management.

Johnson & Johnson

Further attention was paid to pharmaceutical company Johnson & Johnson, who lost a fraction. The drug maker expects to have more clarity about the functioning of the coronavirus drug by the end of next month. The drug with a Dutch touch, unlike other vaccines, needs to be administered only once.

Investors‘ eyes are also focused on the House of Representatives voting on the deposition procedure for incumbent President Donald Trump. This is due to the storming of the Capitol by Trump supporters last week. Trump is accused of inciting the crowd, repeating accusations of ballot box fraud in the elections he lost. There’s no evidence for that, by the way.

Boeing

Boeing lost 0.6 percent in stock market value. The planemaker delivered almost 60 percent fewer aircraft last year. The coronapandemic caused many airlines to face major financial difficulties, which caused them to postpone massive investment in new aircraft. In addition, the company was faced with the safety issue around 737 MAX.

Credit card company Visa won 0.3 percent. The company put a line through the acquisition of technology company Plaid worth 5.3 billion dollars. This is due to competition concerns in the US. Furthermore, Dropbox lost 6.3 percent. The cloud file storage service announced its intention to cut 11 percent of its workforce.

The euro was worth 1.2159 dollars, compared with 1.2170 earlier in the day, and a barrel of American oil cost 0.6 percent less on 52.89 dollars. Brent oil became 2.6 percent more expensive at 57.10 dollars a barrel.