The Dow closed above 32,000 for the first time Wednesday, but technology stocks lagged, as investors bet on further gains for parts of the economy that could be bolstered by another massive injection of cash from Congress that’s due to be signed into law on Friday by President Joe Biden.
Dow Inc. DOW inked a joint development deal with Shell to speed up the development of technology that can electrify ethylene steam crackers.
Notably, using renewable electricity instead of fossil fuel combustion to heat steam cracker furnaces could become one of the routes to decarbonize the chemicals industry.
The partnership between Dow and Shell is underway, and brings together their complementary knowledge and a shared commitment to a low-carbon future. Notably, innovation project teams in Amsterdam, Terneuzen, the Netherlands, and Texas are focused on designing and scaling ‘e-cracker’ technologies. In the coming years, the teams will first prove the technologies
The coronavirus pandemic has seen a host of big brands step outside of their core industries to manufacture much-needed equipment in the fight against the deadly virus.
Those names include Whirlpool Corporation (WHR), Dow (DOW) and Reynolds Consumer Products (REYN), which have teamed up to create respirators with a design that aims displace N95 masks and visors, according to a top Whirlpool executive.
Worldwide, COVID-19 infections have topped 5 million, with over 1.5 million infections located in the U.S.. While new cases appear to be tapering off, frontline health care workers are still in need of personal protective equipment (PPE).
The major U.S. equity indexes closed higher last week, led by impressive performances in the energy and technology sectors. Crude oil posted its first back-to-back weekly gain since February, as evidence showed that U.S. oil companies are cutting production faster than expected and as signs of increased demand emerged with the lifting of coronavirus restrictions by some states.
In the cash market last week, the benchmark S&P 500 Index settled at 2929.80, up 99.09 or +3.50%. The blue chip Dow Jones Industrial Average finished at 24331.32, up 607.63 or +2.56% and the technology-based NASDAQ Composite closed at 9121.32, up 516.37