Decline and negative sentiment on Wall Street

Decline and negative sentiment on Wall Street

Wall Street was broadly lower in trading on Thursday. One minute after the close of trading on the New York Stock Exchange, the major indices appear red.

This is how it went with the major indexes on Wall Street:

  • The S&P 500 collective index fell by 0.62%.
  • The Nasdaq technology index fell 0.63 percent.
  • The Dow Jones index fell by 0.51 percent.

The volatility index – the VIX – rose 4.5 percent to 16.81, while the yield on ten-year US government bonds reached 4.71 percent.

Inflation figures affect

This development follows today’s inflation figures from the US, which showed that consumer prices rose by 3.7 per cent year-on-year in September (same as in August), versus 3.6 per cent expected. Core inflation fell from 4.3 to 4.1%, exactly as expected.

The numbers were slightly stronger than we expected, despite the continued downward trend in core inflation. “We hope this continues, but we will be watching closely how higher energy prices impact broader inflation in the coming months,” Andrew Patterson, chief economist at Vanguard, told CNBC.

The inflation numbers do not mean that the Fed needs to raise interest rates further, but they prove that interest rates will remain high for a long time, says chief strategist Dane Sikov at Nordea Markets in an interview with Finansavisen.

Oil price

Energy prices continue their series of gains and rose at the end of trading on Thursday, after several days of gains.

Brent crude rose 1.04 percent to $86.36 a barrel. While West Texas Intermediate crude rose by 0.08 percent to $83.55 per barrel.

See also  - Totally irrelevant - E24

stock

The owner of Facebook Meta, Amazon, Netflix, Apple and Alphabet (also known as FAANG stocks), had a mixed day on the stock market on Thursday. Amazon and Apple shares were among the most actively traded stocks on Wall Street at the close of trading.

  • Facebook shares fell 1.12 percent to $324.16.
  • Amazon shares rose 1.38 percent to $132.33.
  • Apple shares rose 0.51 percent to $180.71.
  • Netflix stock fell 1.29 percent to $361.20.
  • Alphabet shares fell 1 percent to $140.29.

A complicated start for newcomers to the stock exchange

After a rocky start on Wednesday, when German sandal company Birkenstock went public in New York, the stock also fell on Thursday.

The stock fell about 6.6 percent to a price of $37.55 per share at the close of trading.

At the close of trading on Wednesday, Birkenstock’s stock price fell to $40.06, roughly 13 percent below its listing price of $46 per share. Regarding the listing, the company is priced at $8.64 billion.

Dalila Awolowo

Dalila Awolowo

"Explorer. Unapologetic entrepreneur. Alcohol fanatic. Certified writer. Wannabe tv evangelist. Twitter fanatic. Student. Web scholar. Travel buff."

Leave a Reply

Your email address will not be published. Required fields are marked *