News

Wall Street Settled Mixed while Bonds Rallied

Wall Street closed mixed this Thursday. The Dow Jones rose 0.15% or 53.79 points, to 34,987.02. The session was marked by better than expected business results, including Morgan Stanley, which did not rescue the S&P 500 or the Nasdaq from the red.

The selective S&P 500 lost 0.33% or 14.27 points, to 4,360.03.

The Nasdaq composite index, bringing together the most important technology companies, dropped by 0.70% or 101.82 points, to 14,543.13.

Investors thus seemed to ignore the corporate results presented this Thursday by Morgan Stanley, which exceeded expectations by experts. Still, its shares closed with a modest rise of 0.18%.

For analysts, this is because the market was already forecasting these good figures.

Although the S&P 500 posted a slight decline on Thursday, the index has been close to its record lately, having risen 16% so far this year, a pace that experts expect will continue.

By sector, public services companies led the gains by 1.19%. Meanwhile, essential consumer goods added 0.42%, and financial companies increased by 0.38%. The energy sector yielded 1,41%, the technological sector dropped by 0.84%, and non-essential consumer goods decreased by 0.64%.

Among the thirty Dow Jones stocks, Honeywell was the most significant winner adding 2.21%. United Health hiked by 1.28%, and Home Depot increased by 1.09%. The biggest loser of the session was Salesforce which shed 2%. At the same time, Walgreens Boots Alliance declined by 1.34%, and Intel lost 1.26%.

This Wednesday, Jerome Powell, the head of the Fed, assured that a jump in the US consumer price index did not mean that high inflation would persist. However, he stressed that the economy is far from the central bank’s objectives to propose a change in monetary policy.

After Powell’s statements, longer-dated bonds found buyers. The prospect of price rise reduction has turned investors back into Treasuries.

Support Platform Spread Trading Instrument

Sending

User Review

0 (0 votes)

Get the latest economy news, trading news, and Forex news on Finance Brokerage. Check out our comprehensive trading education and list of best Forex brokers list here. If you are interested in following the latest news on the topic, please follow Finance Brokerage on Google News.

What's your reaction?

Excited
0
Happy
0
In Love
0
Not Sure
0
Silly
0

You may also like

Leave a reply

Your email address will not be published. Required fields are marked *

More in:News