Wall closed with profits but far from high – Nasdaq almost unchanged

Wall Street closed higher on Wednesday, just one day after the Nasdaq hit its worst daily low in 1.5 years as buyers showed no longer had in the last half hour of trading. other resistances in order to maintain their significant intra-conference profits.

Today’s session started with the best omens, with the Dow Jones after the first ten minutes adding about 300 points and the S&P 500 and Nasdaq recording gains above 1%, with this first upward attempt to “deflate” before completing well – the first hour of trading is good, with the indices passing even in negative territory.

However, buyers regrouped relatively quickly and put the market back on an uptrend, despite the strong volatility that was still strong today, without having – as it turned out – the strength to keep pace until the end.

This is because caution was still the main feature of the meeting today, as investors are called upon to overcome many concerns at once.

Investors worry, among other things, that the Federal Reserve’s increasingly aggressive interest rate-cutting policy in a bid to curb galloping inflation could lead to a downturn in the US economy, while headwinds. due to global developments, they are getting stronger.

Concerns about the pace and breadth of monetary policy, as well as fears of a significant slowdown in the Chinese economy, as a result of the Asian giant’s extensive lockdowns in dealing with the outbreak of the coronavirus pandemic and supply chains, which in combination raise concerns about undermining growth and the global economy.

Concerns are also heightened by Russia’s ongoing war in Ukraine, which has pushed up energy prices and intensified inflationary pressures around the world, making it even more urgent for central banks to deal more aggressively, fueling fears of further action. eventually cut economic growth.

Concerns over the worsening energy crisis were exacerbated on Wednesday by the decision of Russian energy giant Gazprom to cut off gas supplies to Bulgaria and Poland due to the refusal of these countries to pay in rubles, as requested by President Putin, in an effort. to mitigate the effects of Western sanctions on the Russian economy.

A crisis that is likely to worsen as tensions between the West and Russia escalate at the same time, with Moscow threatening to hit Western countries, even NATO members, who supply Ukraine with weapons and military equipment.

Indicators – Statistics

Thus, although intra-conference indices managed to record significant gains, they eventually completed trading away from the highs of the day.

In particular, the Dow Jones industrial average, although intra-conference managed to add more than 400 points, finally closed the session only 61.75 points or 0.19 higher, at 33,301.93 points.

The S&P 500 followed a similar course, finishing just 0.18% higher than yesterday, at 4,182.80 points, although its intra-conference gains exceeded 1.3%.

The technology Nasdaq ended the day almost unchanged, although it started the session with a jump, as it finally succumbed to intense volatility and finished at 12,488.93 points, 1.81 points or 0.01% lower than yesterday’s closing.

With losses of 3.3%, the title of Meta, Facebook’s parent, closed, with investors holding a wait-and-see attitude in view of the announcement by the technology giant of the first quarter results.