Shares of technology companies rose as traders rotated back into electric-vehicle makers.
Shares of Lucid Group rose by more than one-fifth, bringing its market value close to that of Ford Motor, after the company, which has yet to release a mass-market vehicle, sounded upbeat notes on its executive conference call in the wake of its earnings report.
Shares of chip maker Qualcomm rallied after it forecast more than 10% growth per annum in its chipset operations over the next three years, assuaging concerns that its reliance on Apple could crimp growth potential.
The price of bitcoin fell below the psychologically significant $60,000 level, underscoring concerns about speculation in cryptocurrencies.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
11-16-21 1728ET
