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U.S. stocks still fall sharply, technology-intensive Nasdaq records a plunge

Stock prices almost fell after hitting highs five times in a row during trading on Tuesday. With the fall on the day, the key average is lowering the record highs set in the previous session.

Currently, all major averages are in the negative territory, but tech-heavy Nasdaq is below the corresponding. The Nasdaq is down 261.81 points or 1.8 percent to 14,578.90, while the S & P 500 is down 34.37 points or 0.8 percent to 4,387.93 and the Dow is down 160.36 points or 0.5 percent to 34,983.95.

The Wall Street retreat may partially reflect uncertainty prior to the Federal Reserve Board’s monetary policy announcement on Wednesday.

Traders may pay close attention to the Fed’s statement on clues that central banks are considering shrinking their asset purchase programs.

Technology giants Alphabet (GOOGL), Microsoft (MSFT), and Apple (AAPL) are also one of the companies that have announced quarterly results after today’s closing, which could be causing anxiety among traders. I have.

On the revenue side, UPS (UPS) share fell sharply after the shipping giant reported higher than expected second-quarter earnings but weaker than expected domestic earnings.

Electric car maker Tesla (TSLA) is also under pressure, despite reporting second-quarter results that exceeded analysts’ expectations.

Meanwhile, General Electric (GE) shares are showing modest strength after the conglomerate reported better results than expected in the second quarter.

Negative emotions may have arisen in response to reports that the CDC reversed the course and recommended it to vaccinated people. coronavirus Resume wearing the mask indoors at a specific location.

The revised guidance, due out later today, is in the midst of the rapid spread of delta variants of coronavirus in areas of low vaccination coverage.

In economic news, the Commerce Department released a report showing continued growth in new orders for durable consumer goods manufactured in the United States in June, but the growth was significantly lower than expected.

Orders for durable consumer goods rose 0.8% in June, after a 3.2% surge, which was revised upward in May, according to the report.

Economists expected orders to surge 2.1% compared to the 2.3% surge reported last month.

Excluding transportation equipment orders, durable consumer goods orders increased 0.5% in May and then 0.3% in June. Pre-shipment orders were expected to increase by 0.8%.

According to another report from The Conference Board, consumer confidence in the United States has improved slightly from the upwardly revised level in July.

The Conference Board said the Consumer Confidence Index rose from 128.9, which was revised upward in June, to 129.1 in July. Economists expected the index to drop from 127.3, which was first reported last month, to 124.9.

Due to an unexpected rise, the Consumer Confidence Index reached its highest level since reaching 132.6 in February 2020.

Sector news

On that day, semiconductor stocks fell sharply and the Philadelphia Semiconductor Index rose 3%.

Computer hardware stocks also show significant weakness, as reflected in the 2.9% downturn by the NYSE Arca Computer Hardware Index.

Airline stocks are also showing significant weakness in daytime trading, with the NYSE Arca Airlines index down 2.6%.

Oil services, software and retail stocks are also on a downtrend, and tobacco and utilities stocks are also on a downtrend.

Other markets

In overseas transactions, stocks market During the transaction on Tuesday, various performances were seen throughout the Asia Pacific region. Japan’s Nikkei 225 Index rose 0.5%, while China’s Shanghai Composite Index fell 2.5%.

Meanwhile, all major European markets have moved down that day. The UK’s FTSE 100 index fell 0.4%, while the German DAX index and the French CAC 40 index fell 0.6% and 0.7%, respectively.

In the bond market, government bonds have gained some strength amid the Wall Street recession. As a result, the yield on benchmark 10-year bonds, which move in the opposite direction of the price, drops 3.7 basis points to 1.239%.

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U.S. stocks still fall sharply, technology-intensive Nasdaq records a plunge

Source link U.S. stocks still fall sharply, technology-intensive Nasdaq records a plunge

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