Wall Street in the red: Sports giant gets hit

Wall Street in the red: Sports giant gets hit

Yesterday, the major New York Stock Exchange indices ended in the green, which were nervous ahead of the release of important inflation figures. They turned out to be as expected. After a strong start on Friday, the market remains in a state of anticipation, and the leading indices end the last trading day of the week in the red.

The Dow Jones industrial average fell 0.10 percent to 39,122.94 points. The S&P 500 closed down 0.40 percent to 5,460.72 points, and the tech-heavy Nasdaq fell 0.71 percent to 17,732.60 points.

The yield on the 10-year U.S. Treasury note is 4.328 percent. The VIX, also called the fear index, rose 1.23 percent to 12.39.

On Friday, the conclusion on inflation in the United States came. The core personal consumption expenditures index for May rose to 2.6 percent, as expected. On a monthly basis, core inflation was 0.1 percent, which is also in line with consensus.

Movements

Sports giant Nike The company's stock fell by 19.99 percent after the company reported disappointing quarterly numbers, and Nike's CEO lost confidence on Wall Street. Four years after he took office, Nike shares fell by 25 percent.

After the televised debate between President Joe Biden and his rival Donald Trump DJTTrump Media and Technology Group shares fell 10.84 percent. Biden has been a huge disappointment, and the market is placing a higher probability on Trump winning the battle against Biden for the presidency of the United States.

First Solar It decreased by 9.79 percent.

It also ended with a broad-based decline in the technology sector on Friday.

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Amazon It decreased by 2.32 percent. Microsoft It fell 1.30 percent. Nvidia It also ended trading in the red, down 0.36 percent. Tesla It rose 0.23 percent. the alphabet It closed down 1.76 percent Meta It decreased by 2.95 percent.

Oil and precious metals

U.S. West Texas Intermediate crude closed down 0.35 percent at $81.45 a barrel. Brent North Sea spot crude fell 0.57 percent to $84.89 a barrel.

The price of silver rose 0.59 percent to $29,430 per gram. The price of gold decreased marginally by 0.03% to reach $2,335.60 per gram and ounce.

Dalila Awolowo

Dalila Awolowo

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

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