The key indicators of Wall Street are moving with small losses in Tuesday’s trading after yesterday’s records, with the S&P 500 losing ground after eight consecutive uptrends, which is the largest series since April 2019.
The impressive S&P series and the successive records of the American market indices follow a barrage of strong corporate results for the previous quarter, but also the approval of a new fiscal package to strengthen the economy. On Friday, the House of Representatives approved an investment package in infrastructure projects totaling 1 trillion. which is expected to be signed by President Joe Biden in the coming days.
Meanwhile, the US market seems to be returning to a waiting position in view of the data to be announced tomorrow on inflation, which is expected to show a new jump in prices. The data released today showed that wholesale prices rose again in October, in a new indication that the upward pressures that have led to the largest increase in inflation for decades will not escalate soon.
In particular, the producer price index increased by 0.6% in October compared to September. Since January, wholesale prices have risen by at least 0.5% every month.
On an annual basis, the producer price index jumped 8.6%. This is the highest level since the index was restructured in 2009 and probably one of the highest measurements since the early 1980s.
Indicators – Statistics
On the board, the Dow Jones industrial average lost 105.63 points or -0.31% at 36,319.47 points, while the broader S&P 500 fell 9.60 points or -0.20% to 4,692.41 points. The technology Nasdaq loses 46.17 points or -0.29% to 15,936.19 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. The biggest gains were made by Home Depot with gains of $ 4.90 or 1.33% at $ 373.49, followed by Honeywell International at $ 227.02 with an increase of 0.57% and Amgen at $ 212.45 with gains of 0.51%.
The biggest losses are recorded by Visa (-2.23%), Boeing (-1.41%) and IBM (-1.22%).
For the rest of the day, the National Federation of Independent Business announced today that the Small Business Confidence Index fell 0.8 points to 98.2 points last month, the lowest level since March.
In business developments, General Electric shares jumped 5.4% after the announcement of the industrial giant that it plans to split its activities into three separate companies that will be listed on the stock exchange.
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I am Sophia william, author of World Stock Market. I have a degree in journalism from the University of Missouri and I have worked as a reporter for several news websites. I have a passion for writing and informing people about the latest news and events happening in the world. I strive to be accurate and unbiased in my reporting, and I hope to provide readers with valuable information that they can use to make informed decisions.
