The main Wall Street indicators start the week with a negative sign, with the technology sector at the center of the pressures, as the bonds yields are climbing in anticipation of the data that will be announced tomorrow for the inflation.
The tech Nasdaq fell 3.9 percent last week to its worst weekly performance since late January, while the S&P 500 closed a three-week high. Industrial Dow Jones fell for the second consecutive week.
The 10-year US yield climbed today to its highest level since 2019, surpassing 2.75% from 2.71 on Friday, as the selloff in government debt continues for the seventh consecutive session. The two-year yield rose to 2.57% from 2.51% on Friday.
Inflation data will be released on Tuesday, with analysts citing an annual increase of 8.4% amid an unprecedented rally in food prices and energy in the shadow of the war in Ukraine.
Indicators – Statistics
On the board, the Dow Jones is down 93.80 points or -0.27% at 34,627.32 points, while the broader S&P 500 is down 33.85 points or -0.75% at 4,457.13 points. The technology Nasdaq loses 129.26 points or -0.94% to 13,581.74 points.
Of the 30 stocks that make up the Dow Jones industrial average, 13 are moving with a positive sign and 17 with a negative. GoldmanSachs Group gained the biggest gain with $ 5.61 or 1.75% to $ 327.00, followed by Amgen at $ 255.47 with an increase of 1.37% and Boeing with a profit of 1.11% at $ 177.15.
On the other hand, the three stocks with the biggest losses are American Express (-2.55%), Microsoft (-2.31%) and Chevron (-1.86%).
There is no progress in the peace talks in Ukraine. Ukrainian President Volodymyr Zelensky warned today that thousands of Russian troops were gathering for a new offensive in the east, and that Moscow had said it would not suspend military operations in Ukraine for new peace talks.
The British secret service reported that the Ukrainian army has already repulsed several Russian attacks in the eastern part of the country. Russian forces meanwhile continue to advance on Mariupol after weeks of fierce fighting that has completely destroyed the historic city. “There [στη Μαριούπολη] “There are tens of thousands dead, but even so, the Russians are not stopping their attack,” Zelensky told the South Korean parliament today.
In business developments, Tesla CEO Elon Musk remains in the spotlight following the announcement by Twitter CEO Parag Agrawal that Musk, who recently acquired a nearly 10% stake in the company, “decided not to take a position in BoD ”
Shares of Shopify meanwhile gain more than 2% after the e-commerce software company announced it was planning a 10-to-1 split in a bid to make its shares “more accessible to all investors”.
Sailpoint Technologies’s stock finally rallied 29% after the cybersecurity company confirmed that it had reached an agreement for its acquisition by private equity company Thoma Bravo, with the value of the transaction reaching $ 6.9 billion.
Source: Capital
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