After a day swaying between profits and losses on Monday, stocks ended in mixed prices as the market chilled following a rare week of victory. The S & P 500 fell 0.3%, the Dow Jones Industrial Average fell 0.2%, and the Nasdaq fell 0.8%. Small business stocks have risen. Declining technology and telecommunications inventories, as well as a decline in some major retailers and travel companies, have impacted the market. These losses checked profits in energy stocks and elsewhere. Treasury yields have risen. Stock prices closed with a solid rise last week, making the S & P 500 the best day of the two years on Friday.
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In the afternoon trading on Wall Street on Monday, stock prices fluctuated as the market cooled following a rare week of victory.
The S & P 500 fell 0.2% at 2:19 pm in the east. Benchmark indexes are shifting between small profits and losses throughout the day. The Dow Jones Industrial Average fell 23 points (0.1%) to 31,473, while the Nasdaq fell 0.5%.
The recession of tech and telecommunications stocks, as well as several major retailers and travel companies, have impacted the market. Microsoft was down 1% and Electronic Arts was down 4.6%. Amazon was down 2.4% and Carnival was down 1.6%.
These losses checked for rises elsewhere in the market, including energy stocks that rose due to a 1.9% rise in US oil prices. ExxonMobil rose 2.5%.
European markets were mixed and Asian markets closed overnight at high prices. The Treasury yields were mostly high.Yields on 10-year government bonds to help set Mortgage ratesIt rose from 3.12% to 3.20% at the end of Friday.
Stock prices closed with a solid rise last week, making the S & P 500 the best day of the two years on Friday. Welcome in the midst of a serious recession on Wall Street as investors are concerned about the path of inflation and whether rising interest rates will ease the impact on businesses and consumers or drive the economy into recession. It was a rally.
The Federal Reserve And other central banks are aggressively raising interest rates in a sharp shift from maintaining ultra-low interest rates during a viral pandemic that helped support the economy.this is Subtle balance For the Fed wants to cool the economy, but not enough to actually shrink. However, higher interest rates hurt investors’ prices and prompted many of this year’s sellouts.
Investors have favorably viewed recent reports of weak consumer sentiment and economic growth. That’s because as economic growth slows, the Fed is more likely to ease aggressive rate hike plans.
Wall Street will release several reports this week that may provide more insights into inflation, economic growth and the future direction of the Fed.
On Tuesday, the Business Group’s Conference Board will release a June Consumer Confidence Report. Even with rising inflation, spending and confidence were well maintained throughout most of the post-pandemic recovery. However, record high gas prices and overall tightening due to inflation are eating up wallets and encouraging many to shift or reduce spending.
Some of the pushes behind inflation tightening Russia invades Ukraine During February. It has soared energy prices. Crude oil prices in the United States are rising by more than 40% annually. The price of wheat and corn has also skyrocketed.
A video link with Ukrainian President Volodymyr Zelensky has signed a contract with a group of seven leaders to seek caps on Russian oil prices, raise tariffs on Russian commodities and impose other new sanctions. I did.
Russia may also have defaulted on its external debt For the first time since the Bolshevik Revolution of 1917, it further moved the country away from the world’s financial system during the war in Ukraine.
Investors will get another update on US economic growth on Wednesday when the Department of Commerce publishes a report on GDP in the first quarter.
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