After showing a lack of direction early in the session, stocks continue to show poor performance in daytime trading on Friday. Unstable trading of the day occurs shortly after the rally seen in the previous two sessions.
Currently, the Dow is down 12.26 points or less than a tenth percent at 34,752.56, and the S & P 500 is down 0.76 points or less than a tenth percent at 4,448.22. The Nasdaq is a little more solidly in the red, down 44.89 points (0.3%) to 15,007.35.
The sluggish performance on Wall Street market Following recent volatility.
Stock prices soared during trading Wednesday and Thursday, but rose following Monday’s sell.
The Dow fell well below the three-month closing price set on Tuesday, but remained sharply down in September.
Meanwhile, China’s crackdown on Bitcoin weighs heavily on the tech-heavy Nasdaq, and the People’s Bank of China has stated that all crypto-related activities are illegal.
Traders have also expressed uncertainty about the situation at China Evergrande, as debtor real estate companies have not provided explanations for major interest payments.
In US economic news, new home sales in the US increased unexpectedly in August, according to a report released by the Department of Commerce.
New home sales rose 6.4% to 729,000 in July and then rose 1.5% to reach an annual rate of 740,000 in August, according to the Department of Commerce.
Continued progress has surprised economists who expected new home sales to fall 1.1% from 708,000, which was first reported last month, to 700,000.
Due to an unexpected increase, new home sales continued to recover after falling to their lowest levels in June for more than a year.
Most of the major sectors have shown modest movements on the day, reflecting poor performance from a wide range of markets.
Airline stocks have continued to rise recently, but the NYSE Arca Airlines Index has risen 1.6% to its highest daytime in more than two months.
There is also significant power among bank stocks, as evidenced by the 1.3% rise in the KBW Bank Index.
Meanwhile, biotechnology stocks were under pressure during the session, with the NYSE Arca Biotechnology Index down 1.1%.
In overseas trading, the stock market in the Asia-Pacific region fluctuated in the trading on Friday. Japan’s Nikkei 225 Index surged 2.1% and China’s Shanghai Composite Index fell 0.8%.
Meanwhile, all major European markets have moved down that day. France’s CAC 40 index fell 1%, Germany’s DAX index fell 0.7%, and the UK’s FTSE 100 index fell 0.4%.
In the bond market, government bonds are expanding the notable downturn seen in the previous session. As a result, the yield on benchmark 10-year bonds, which move in the opposite direction of the price, rises 3.7 basis points to 1.447%.
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Dow, S & P 500 remains almost unchanged in daytime trading, Nasdaq slightly lower
Source link Dow, S & P 500 remains almost unchanged in daytime trading, Nasdaq slightly lower