Monday, June 24, 2024

Wall Street is trying to move forward after a week of instability

Must read

Tony Vaughn
Tony Vaughn
"Total creator. Evil zombie fan. Food evangelist. Alcohol practitioner. Web aficionado. Passionate beer advocate."

New York (awp / dpa) – The New York Stock Exchange was trying to recover on Monday shortly after opening, after a week of instability as the tech sector accelerated as bond prices fell slightly.

At around 3:00 PM GMT, the Dow Jones Index, which opened in the red, was at 0.09%. The Nasdaq, with a strong technology focus, advanced 0.83%. The S&P 500 gained 0.44%.

On Friday, the Dow Jones index fell 0.71% to 32,627.97 points. The Nasdaq index, which suffered its biggest decline in three weeks the previous day, rose 0.76% to 13,215.24 points. The S&P 500 index fell 0.06% to 3,913.10 points.

Interest rates on the 10-year Treasury eased slightly to 1.69% at opening from 1.74% on Friday.

Schwab analysts commented: “Investors are looking to recover from last week’s losses,” noting that bond yields “have calmed down a bit”.

They added that “IT stocks are benefiting from this decline in rates,” while the alleged growth stocks have suffered in recent weeks from fears of a rise in temperature and inflation that have hit bond yields.

Apple shares rose 1.50%, Tesla 5.60%, Netflix 1%.

On the other hand, all bank stocks were affected by lower interest rates and Friday’s Fed announcement. The central bank decided it would not extend the exemption on the capital reserves that helped banks lend during the height of the health crisis.

Bank of America, JP Morgan and Goldman Sachs each lost more than 1%.

Southern Kansas City Railroad Company jumped 14.50% after it announced on Sunday it would marry Canada’s Pacific Railroad for $ 25 billion in cash and shares.

See also  What's new for the first weekend of April!

Together, the two networks form the first rail freight network to join Canada, the United States and Mexico.

Calgary Corporation shares fell 2.30%.

Negative indicator, February’s Home Resale, which showed a sharper than expected drop (-6.6%), hardly worries investors. The slowdown in the real estate sector was mainly attributed to the cold snap that has paralyzed activities in a part of the country.

VMT / Objection / Real

Latest article