Major Wall Street indicators closed in negative territory, with investors “braking” on the course of the US stock market to new historical highs, weighting concerns about rising inflation with the strong results announced today by large retail chains .
The losses in today’s session were manageable, as the lack of investment alternatives and the expectation that consumers will continue to be the pillar of the economic recovery support corporate profits. In addition, the fall in government bond yields reduced losses in the US market and boosted high-tech stocks in the tech industry, led by Tesla and Apple.
At the same time, investors are looking at the next moves of the Federal Reserve and whether it will raise interest rates sooner than expected based on the signs that the economic recovery is on track.
In the field of results found in the spotlight, Target continues to show the same strength at the end of the year as at the beginning, announcing earnings and revenue in the third quarter that exceeded Wall Street estimates. Net income was $ 1.49 billion, or $ 3.04 a share, up from $ 1.01 billion, or $ 2.01 a year. Its share, however, fell today by 4.76%.
Lowe’s rose 0.44% with home appliance retailer to announce profits and revenues for the third quarter that exceeded expectations, a surprise increase in sales of own stores, while revising its outlook for the whole year.
In macro of the day A drop of 0.7% was recorded in the opening of houses in October in the US, as shortages of some materials and the jump in prices continue to limit construction activity.
In particular, home declines fell 0.7% to a seasonally adjusted 1.520 million units last month, according to Commerce Department data.
In the meantime, his performance 10-year government bond of the USA fell by 2.8 basis points to 1.604%, while the US dollar marked a small drop of 0.1%.
Indicators – Statistics
On the dashboard, the industrial Dow fell by 0.58% or 211 points to 35,931.05 points, the widest S&P 500 lost 0.26% to 4,688.67 points and the technology Nasdaq slipped 0.33% to 15,921.57 points.
From 30 shares that make up the Dow, 8 closed with a positive sign and 22 with a negative. Profits were led by Apple (+ 1.65%) and Home Depot (+ 0.64%), while the biggest losses were recorded by Visa Inc (-4.7%) and Goldman Sachs (-2.86%).
Visa Inc.’s “dive” came after Amazon announced plans to stop accepting Visa credit card payments in the UK from next year. According to CNBC, Amazon has told some customers that from January 19 onwards, the company will no longer accept Visa credit cards issued in the UK “due to the high fees charged by Visa for credit card transactions”. . Amazon share gained 0.23%.
Shares of some electric vehicle makers plummeted, putting the brakes on a rally that brought them ahead of traditional carmakers such as General Motors in capitalization.
Specifically, the company manufacturing luxury electric cars Lucid Group fell by 5.35%, while the Rivian Automotive plunged 15.08%, for the first time since its impressive US stock debut last week, making it the second most valuable US carmaker.
Her share Tesla gained 3.25%, rising for the second day in a row, in the wake of the news that Elon Musk Musk sold other shares – worth $ 973 million – to pay taxes after the exercise of options.
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