What’s Going Down in the US Stock Market? See the pros and cons above
What happened today in the US stock market?
- Markets continued to decline for a third consecutive day as concerns over aggressive interest rate hikes continued to weigh on sentiment.
- The Nasdaq was down 1.1%, the Dow was down 1% and the SP 500 was down 1.1%.
- Losses in almost all sectors, bank share slightly lower. Power is the worst performance.
- Shares of Baidu fell more than 6% after earnings fell in the April-June 22 quarter.
- Semiconductor stocks fell. The VanEck Semiconductor ETF fell more than 2%, bringing its losses for the year to more than 30%.
Did you know it
If you spend a weekly SIP of Rs 1000 on Netflix stock for the last 10 years, what would be its current value?
Netflix’s stock price has risen more than 2,300% over the past 10 years. If you have done a weekly SIP of INR 1000 for the last 10 years, the current value would be around INR 87 lakhs.
Check out Netflix’s stock price
What is the approximate current value if you spend 1000 rupees every week on Apple stock for the last 10 years?
Apple’s stock price has risen more than 600% in the last 10 years. If you do a weekly SIP of INR 1000 for the last 10 years, the current value would be around Rs 23 lakh.
The Dow Jones fell nearly 1,000 points, marking its worst close since 2020, as investors prepare for an immediate Fed rate hike.
- US stocks rose on Friday, with the Dow Jones falling for a fourth straight week as investors prepared for an imminent hike in interest rates.
- “I would say 50 basis points at the May meeting,” Fed Chairman Jerome Powell told the IMF on Thursday.
- First-quarter results beat revenue and revenue estimates as the Fed tries to contain inflation.
- US stocks fell on Friday, with the Dow falling nearly 1,000 points as investors braced for more comments from Federal Reserve Chairman Jerome Powell, who hinted at further rate hikes.
“I would say 50 basis points at the May meeting,” Powell said at the IMF meeting on Thursday as the Fed grapples with inflation, which has hovered above 40 in recent months.
Some analysts are now calling for a 75 basis point increase to warm up to Powell’s idea of a 50 basis point increase at the next meeting in May. “75 basis points is the new 25 basis points,” Bank of America said in a statement Friday, warning of a possible interest rate shock.
The Dow Jones is up 1.85% this week, the S&P 500 is up 2.7% and the Nasdaq is up 3.8%. The Dow Jones rose for the fourth consecutive week, and the S&P 500 and Nasdaq 100 rose for the third consecutive week.
There will be American hats 4 p.m. And closed on Fridays:
- S&P 500: 4,271.78, up 2.77%.
- Dow Jones Industrial Average: 33,811.40, down 2.82% (981.36 points).
- Nasdaq total: 12,839.29, up 2.55%.
Despite a bearish rise in the stock market, the company’s earnings in the first quarter fell short of analysts’ revenue and earnings estimates. The 95 companies reporting so far, or 19% of the S&P 500, have gained more than 6% on average, according to Fund Street. At the same time, the average price is 3% lower.
Bitcoin remains in a bear market, and cryptocurrencies continue to trade sideways. Here are five cryptocurrencies that have performed well over the past week.
Ukraine announced bitcoin buying restrictions on Friday to prevent capital outflows as the Russian war enters its third phase. The National Bank of Ukraine bans the purchase of bitcoins in hryvnias and limits the amount of money purchased to $3,300 per month.
The Chinese yuan hit its worst weekly decline since 2015 as investors headed back to the United States on Friday. According to data from Bloomberg, the offshore yuan or yuan rose 2.4 percent in the week to 6.53 per dollar.
Oil demand in China fell 20 percent this month, according to Bloomberg data, the biggest drop since the early days of the outbreak. This decline is accompanied by a reduction in crude oil consumption of 1.2 million barrels per day.
West Texas Intermediate crude rose 1.92 percent to $101.80 a barrel. Brent crude, the international oil benchmark, fell 1.85 percent to $106.33.
The S&P 500 is up nearly 4% to a new low for the year, closing in on a bear market.
Stocks rose Tuesday as recession fears eased ahead of the Federal Reserve’s big meeting this week and the S&P 500 fell to an all-time low. The new year is over in the stock market.
The S&P 500 rose 3.88 percent to 3,749.63, the lowest since March 2021, after a January gain of more than 21 percent. The benchmark index closed in a bear market (more than 20% above the peak) for a while after trading there one day about 3 weeks ago. According to some on Wall Street, it will be an official bear market until the index closes on Monday. The last time the stock market fell was in March 2020, when the pandemic began.
The Dow Jones Industrial Average rose 876.05 points, or 2.79 percent, to 30,516.74, about 17 percent above its all-time high. The Nasdaq Composite rose 4.68% to 10,809.23 points and sales losses increased by more than 33%.
The Wall Street Journal reports that the central bank plans to raise interest rates by 0.75% on Wednesday, expecting them to rise now.
At one point during the company’s trading day, all stocks in the S&P 500 were lower. On the benchmark, only five stocks finished in the green.
S&P to 2022
The move comes as investors look to Friday’s expected inflation report and the Fed’s plan to raise interest rates this weekend.
“Those who want to be optimistic have nothing to lose. There’s growing uncertainty about where the economy is going,” said Jack Ablin, founder of Cresset Capital.
Recession Fears Growing
Shares of Boeing, Salesforce, and American Express fell 8.7 percent, 6.9 percent, and 5.2 percent respectively. Tech stocks are up more than 7%, with Netflix, Tesla, and Nvidia at new 52-week Nasdaq lows and at November 2020 lows.
Travel stocks also fell on Monday, with Carnival Corp. and Norwegian Cruise Line by about 10% to 12%. Delta Air Lines rose more than 8%, while United rose nearly 10%.
All major sectors in the S&P 500 slipped into the red, leading by more than 5%. Communication services, information technology, and facilities user options decreased by more than 4%.
Jeff Kilberg, chief executive of Central Wealth, said the small change could indicate that more investors are buying or reinvesting in shares and that the market is “crying out” to Chief Investment Officer Jeff Kilberg.