Tesla and Apple Jumped to Wall Street After Stock Split – E24

After a mixed stock market morning in Asia, and a similar development in European stock exchanges, Wall Street indices also split on Monday afternoon.

The stock splits for tech giants Tesla and Apple marked much of the last trading day in August.

Here’s what it looks like at closing time on Monday night:

• The Dow Jones fell 0.78 percent
• Nasdaq rose 0.68 percent
• The S&P 500 fell 0.22 percent

At the close, the price of oil (Brent spot) has fallen 0.74 percent and is selling at 45.52 dollars a barrel. A barrel of American light oil (WTI) is trading at $ 42.80.

Ahead of the weekend, all three indices finished higher, with the S&P 500 posting its seventh consecutive day of advance.

Both the S&P 500 and the Dow Jones are approaching their best August since 1984, according to CNBC. The two indices increased 7.8 and 8 percent respectively during the month of August.

Changes in the Dow Jones

Monday also marks changes in the Dow Jones index, after Apple’s stock split was made official.

The split means that one Apple share becomes four and that current shareholders receive three new shares for every share they own.

The stock was trading at $ 129.04 at the close, up 3.39 percent.

Apple’s move has caused changes in the Dow Jones index to keep the weighting on technology companies. As a result, Exxon Mobil has been phased out and the IT group Salesforce is taking over.

At the same time, the arms manufacturer Raytheon and the pharmaceutical giant Pfizer leave the index. These include biotech company Amgen and industrial supplier Honeywell.

Tesla divided

Tesla shares also split for the first time on Monday. Here, one action becomes five actions.

Tesla stock is up more than 72 percent since the stock split announced on Aug. 11, and the price drop may lead more people to consider investing in the company.

On Monday night, Tesla was up 12.57 percent on the Nasdaq and sold at $ 498.32 a share.

Tech giants look green after stock split

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