LAST UPDATE 22:00
Key Wall Street indexes continue to make small gains, with the US market reacting shortly before closing in anticipation of a new barrage of corporate results in the coming days.
The index started the day with a negative sign, with the Dow losing almost 490 points at the bottom of the day, extending the heavy losses of the previous week. On Friday, the Dow Jones industrial average fell 981 points, or 2.8%, to its worst decline since October 28, 2020. The broader S&P 500 also plunged 2.8%, while the tech Nasdaq lost 2.6%.
For the week, the Dow lost 1.9%, the S&P 500 fell 2.8%, while the Nasdaq fell 3.8% overall as investors anxiously await the next round of tightening of the Federal Reserve monetary policy in order to face the jump in inflation to high over 40 years.
Investors’ concerns were exacerbated by statements by Fed Chairman Jerome Powell that seemed to support a 50 basis point increase in interest rates – instead of the traditional 25-point increase. – at the next central bank meeting in May.
Indicators – Statistics
On the board, the Dow Jones gained 125.91 points or 0.37% to 33,930.02 points, while the broader S&P 500 adds 5.27 points or 0.14% to 4,276.88 points. The technological Nasdaq strengthened by 112.30 points or 0.87% to 12,950.78 points.
Of the 30 stocks that make up the Dow Jones industrial average, 18 are moving with a positive sign and 12 with a negative. The biggest increase is recorded by Microsoft with gains of $ 5.05 or 1.84% at $ 279.08, followed by Johnson & Johnson at $ 184.88 with an increase of 1.84% and American Express with gains of 1, 82% to $ 183.82
On the other hand, the three stocks with the biggest losses are Verizon Communications (-3.61%), Chevron (-1.77%) and Nike (-1.49%).
The market climate is also exacerbated by massive lockdowns in China to halt Covid-19, which have brought back to the forefront concerns about a sharp slowdown in the Chinese economy, the world’s second-largest, along with the risk of new disruptions in global supply chains.
Beijing will expand its massive COVID-19 test campaign to 10 more regions and an economic growth zone from Tuesday to Saturday, a Chinese capital official told Reuters. Chaoyang District, the city’s most populous district, began testing residents and those working there on Monday.
Meanwhile, investors are preparing for another barrage of corporate results in the coming days. This week the investment interest is expected to be monopolized by the announcements of technology giants such as Apple, Meta Platforms, Facebook parent company, Alphabet, Google parent company, Amazon.com and Microsoft, among others.
Investors continue to follow Twitter Inc. in the aftermath of the offer of the billionaire Elon Musk for the acquisition of the company and in the middle of reports that the BoD. of the company is reviewing the takeover proposal. The company’s share jumps over 3% today.
Source: Capital
I am Sophia william, author of World Stock Market. I have a degree in journalism from the University of Missouri and I have worked as a reporter for several news websites. I have a passion for writing and informing people about the latest news and events happening in the world. I strive to be accurate and unbiased in my reporting, and I hope to provide readers with valuable information that they can use to make informed decisions.
