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US stocks are moving higher; The earnings season for the first quarter continues




US stocks had a higher trend overnight after general losses on Monday.

Ticker Safety Last Change Change%
Me: DJI DOW JONES AVERAGE 32245.7 -653.67 -1[ads1].99%
SP500 S&P 500 3991.24 -132.10 -3.20%
I: COMP NASDAQ COMPOSITE INDEX 11623.2484 -521.41 -4.29%

On Tuesday, the revenue season will also roll on, with Fox News and Fox Business Parent Fox Corporation scheduled to post accounting results before Tuesday’s opening hours, along with food distributor Sysco Corp., music and entertainment company Warner Music Group, hospitality giant Hyatt Hotels and cruise operator Norwegian Cruise Line .

In the afternoon, attention will be focused on the integrated oil and gas company Occidental Petroleum, the video game manufacturer Electronic Arts, the cryptocurrency exchange Coinbase Global and high-end hotel and casino operator Wynn Resorts.

MORGAN STANLEY WARNS INGREDIENTS FOR A GLOBAL RECESSION IS “ON THE TABLE”

The Wall Street benchmark S&P 500 fell 3.2% on Monday, reaching its lowest point in more than a year.

The Federal Reserve is trying to cool down inflation, which is four decades high, but investors are worried that it could trigger a US downturn. It increases the pressure from Russia’s war against Ukraine and a Chinese decline.

US stocks had a higher overnight trend after general losses on Monday. (NYSE via AP) (NYSE via AP)

On Wall Street, the S&P 500 fell to 3,991.24. That leaves Wall Street’s benchmark index down 16.8% from its January 3 record.

The Dow Jones Industrial Average fell 2% to 32,245.70. The Nasdaq composite fell 4.3% to 11,623.25 as technology stocks accounted for the majority of sales.

Energy stocks also fell. Marathon Oil and APA Corp. decreased more than 14% each.

Shares have fallen as the Fed turns away from a strategy of pumping money into the financial system, raising prices.

FAIRNESS FOR HOME WILL CONTINUE TO BE A PROBLEM, PROVIDES MARKET EXPERT

The US Federal Reserve has raised the key interest rate from close to zero, where it was under much of the coronavirus pandemic. Last week, it indicated that it would double the size of future increases from its usual margin.

Meanwhile, Asian equities followed Wall Street lower on Tuesday as fears grew that US interest rate hikes to fight inflation could stop economic growth.

Market references in Tokyo, Hong Kong, South Korea and Australia fell. Shanghai advanced. Oil prices fell more than $ 1, but remained above $ 100 a barrel.

Last week, the central bank indicated that it would double the size of future increases from its usual margin. (NYSE via AP) (NYSE via AP / Associated Press)

Traders price in the “impending deterioration of economic conditions,” Yeap Jun Rong of IG said in a report.

The Nikkei 225 in Tokyo lost 0.8% to 26 117.76 and Hong Kong’s Hang Seng fell 2.8% to 19,436.73.

The Shanghai Composite Index rose 0.2% to 3,009.22 after the Chinese government announced rent cuts and other support to small businesses in a new attempt to boost anemic economic growth.

VARNEY IN THE STOCK MARKET SLIDE: DOES ANYONE SEE A BOTTOM?

Kospi in Seoul fell 0.7% to 3,593.12 and Sydney’s S & P-ASX 200 fell 1.2% to 7,034.90.

India’s Sensex opened up 0.1% to 54,537.35. New Zealand and Southeast Asian markets withdrew.

In the energy markets, the benchmark US crude oil fell $ 1.15 to $ 101.94 per barrel in electronic trading on the New York Mercantile Exchange. The contract plunged $ 6.68 to $ 103.09 on Monday. Brent oil, the price base for international oil trade, lost $ 1.20 to $ 104.74 per barrel in London. It dropped $ 6.45 the previous session to $ 105.94.

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The dollar rose to 130.43 yen from Monday’s 130.32 yen. The euro rose to $ 1.0576 from $ 1.0566.



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