- The Dow Jones loses 0.21% today, ending the session at 41,215.
- The Nasdaq 100 falls 0.60% daily, consolidating within Friday’s operational range at 19,966.
- The S&P 500 goes back 0.60% in the first day of the week, dragged by Zimmer Biomet Holdings (ZBH).
- The ISM services PMI exceeds analysts’ estimates when located at 51.6 points in April.
- The focus of investors will be in the decision of interest rates by the Federal Reserve, to be released on Wednesday.
The Dow Jones marked a minimum of the day at 40,988, attracting aggressive buyers that promoted the index to a daily maximum in 41,437.
The Dow Jones industrial average opened in 41,033, while the Nasdaq 100 technological index began operating at 20,076. The S&P 500 began negotiations in 5,662, finishing the streak of eight consecutive sessions with profits.
Apple and Chevron Corporation lead to Dow Jones to negative field
The Dow Jones index loses 0.21% on the first day of the week, contributing currently in 41,215.
Apple shares (AAPL) have a loss of 3.15% today, reaching minimal not seen since April 22 in 198.21, spinning 2 consecutive sessions down.
Following the bearish perspective, Chevron Corporation titles (CVX) fall 2.17% daily, reaching a minimum of two days at $ 135.18.
In this scenario, the Dow Jones backed 85 points, ending with nine consecutive days upwards, staying within Friday’s range in 41,215.
The Nasdaq 100 is quoted downwards by on semiconductor
The Nasdaq 100 technological index falls 0.60% daily, ending the American session at 19,966.
The semiconductor (ON) values collapse 8.38% today, reaching a minimum of April 30 at $ 37,64 after the publication of its profits.
On obtained income for 1.45 billion dollars compared to the 1.4 projected by the market, as well as an action of 0.55 $ compared to the 0.52 estimated by analysts. Despite exceeding the forecasts, the results did not convince investors, punishing the price of the action.
On the other hand, the Starbucks Corporation titles (SBUX) lose 3.58% in the day, visiting May 1 minimums in $ 81,59, ending with two consecutive sessions upwards.
The Nasdaq 100 loses 120 points in the middle of a day with little volume waiting for the decision of interest rates by the Federal Reserve, to be released on Wednesday.
The S&P 500 quotes down after the publication of the US PMI.
According to information presented by the Institute of Offer Administration (ISM), the PMI of Services increased to 51.6 points in April, located above the 50.6 planned and 50.8 observed in March.
The S&P 500 goes back 34 points in the day, losing 0.60% and ending with a streak of eight consecutive days upward, consolidating within the range of Friday’s session at 5,668. In this context, the shares of Zimmer Biomet Holdings (ZBH) collapse 9.48% after the publication of its quarterly report.
ZBH obtained revenues of 1.91 billion dollars compared to the 1.9 billion expected dollars and a gain per share of $ 1.81 compared to the 1,771 planned by the market. ZBH all marginally in the analysts’ forecasts, however, has not convinced investors who have punished the price of the action taking it to minimal not seen since April 3, 2020 in 90.51 $.
The attention of investors will be in the decision of interest rates by the Federal Reserve, to be released on Wednesday, May 7. Analysts expect it to remain unchanged by 4.5%.
Technical Analysis of Dow Jones
The Dow Jones formed a short -term support given by the minimum of April 21 in 37,853. The following key support is observed in 36,614, minimum of April 7. To the north, the important resistance is observed in 45,068, pivot point of January 31.
Dow Jones daily graphics
Dow Jones Faqs
The Dow Jones Industrial Avenge, one of the oldest stock market indexes in the world, consists of the 30 most negotiated values in the United States. The index is weighted by the price instead of capitalization. It is calculated by adding the prices of the values that compose it and dividing them by a factor, currently 0.152. The index was founded by Charles Dow, also founder of the Wall Street Journal. In recent years it has been criticized for not being sufficiently representative, since it only follows 30 companies, unlike broader rates such as S&P 500.
There are many factors that promote the Dow Jones Industrial Average (DJIA) index. The main one is the added performance of the companies that compose it, revealed in the quarterly reports of business benefits. The American and world macroeconomic data also contribute, since they influence investor confidence. The level of interest rates, set by the Federal Reserve (FED), also influences the DJia, since it affects the cost of credit, on which many companies depend largely. Therefore, inflation can be a determining factor, as well as other parameters that influence the decisions of the Federal Reserve.
Dow’s theory is a method to identify the main trend of the stock market developed by Charles Dow. A key step is to compare the direction of the Dow Jones Industrial Avenge (DJIA) and the Dow Jones Transportation Average (DJTA) and just follow the trends in which both move in the same direction. The volume is a confirmation criterion. The theory uses elements of maximum and minimum analysis. Dow’s theory raises three phases of the trend: accumulation, when intelligent money begins to buy or sell; Public participation, when the general public joins the trend; and distribution, when intelligent money abandons the trend.
There are several ways to operate with the DJ. One of them is to use ETF that allow investors to negotiate the DJ as a single value, instead of having to buy shares of the 30 companies that compose it. An outstanding example is the SPDR Dow Jones Industrial Avenge ETF (day). Future contracts on the DJ allow the specular operators about the future value of the index and the options provide the right, but not the obligation, to buy or sell the index at a predetermined price in the future. Investment funds allow investors to buy a part of a diversified portfolio of DJ values, which provides exposure to global index.
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
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