May 25, 2022

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Mixed on Wall Street - The Dow is down for the sixth day in a row

Mixed on Wall Street – The Dow is down for the sixth day in a row

There seemed to be a slight respite after some heavy days on Wall Street, as all major indexes rose cautiously since the start on Thursday. In the hours that followed, there were sometimes significant up and down movements, and at one point all three major indicators were minus 2% for the day.

In the end, it ended like this on the penultimate trading day of the week:

  • The S&P 500 fell 0.12 percent
  • Nasdaq rose 0.06 percent
  • The Dow Jones index fell 0.33 percent

For the industry-heavy Dow Jones, it was the sixth straight day with a dip, while the broad S&P 500 hit its lowest level for the year, according to CNBC.

Thus, the Nasdaq ended marginally in the positive after a busy week, helped by the rise of Netflix and the owner of Meta Facebook and Amazon, among others.

fiery inflation numbers

Stock markets on Wednesday were characterized by fiery inflation numbers. The report showed that inflation slowed less than expected in April.

Inflation in April was 8.3 percent and remains at a record high, but is slightly lower than the 8.5 percent price increase observed in March. The last time it was at that level was in the early ’80s.

“Yesterday’s higher-than-expected CPI numbers may increase fears that the Federal Reserve will pursue a tighter-than-expected, longer-than-expected monetary policy and lose liquidity from markets, which until recently were immersed in it,” Ross said. Mold, chief investment officer. By AJ Bell, according to Bloomberg News.

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CitiGroup Strategies says growth stocks, including the weak tech sector, are likely to remain under pressure as central banks tighten monetary policy, which in turn could mean higher interest rates.

Price pressure

The Nasdaq is now down -27.4 percent this year, the Standard & Poor’s is down 17.4 percent, and the Dow is down 12.4 percent.

NordNet analyst Roger Bernsen wrote in a commentary Thursday that growth in both the US, but also the rest of the world, will slow in the future as a result of underlying price pressure in the economy. .

On Wednesday last week, the Federal Reserve, the US Federal Reserve, raised its key interest rate by 0.5 percent. Several big interest rate hikes have been announced in the future. The long-term target for US consumer price inflation is 2%.

Retreat in Europe

There is also a broad drop in European markets on Thursday. Inflation fear grips the stock market, with growing concern that US inflation has not peaked, He writes the economics of trade.

Germany’s DAX fell more than 2% and fell 2.23 percent. The pan-European collective index Stoxx 600 fell 2.40 percent and fell to its lowest level in nine weeks.

In the UK, the FTSE 100 is down 1.82% and the Paris Stock Exchange is down 2.17%.

The oil price is trading at $105.07 a barrel, down 1.27 percent from Wednesday’s levels.(Conditions)Copyright Dagens Næringsliv AS and/or our suppliers. We would like you to share our cases using a link that leads directly to our pages. All or part of the Content may not be copied or otherwise used with written permission or as permitted by law. For additional terms look here.

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