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Home » Wall Street: The Dow Jones is on course to end the week on declines

Wall Street: The Dow Jones is on course to end the week on declines

The DOW JONES falls 0.69% to 33,712 points, while the S&P 500 falls 0.81% to 4,346 points. The NASDAQ 100 fell 1.05% to 13,487 points.

In yesterday’s Thursday session, the Dow Jones ended up broadly flat, up from down, while the S&P 500 and Nasdaq posted gains.

Nevertheless, the three major indices are on the verge of breaking their multi-week winning streak. The Dow and S&P 500 are down 1% and 0.6%, respectively, week-to-date. The Nasdaq is down a little less, down 0.4%, but is on the verge of breaking an eight-week straight bullish streak.

The week was marked by appearances before Congress by Federal Reserve Chairman Jerome Powell, who reiterated his message: There will be more rate hikes at future meetings of the Federal Reserve Open Market Committee, although the door was opened yesterday to be moderated.

“Markets have been under a bit of pressure since the Federal Reserve press conference and press release earlier this week when they said they will not raise rates at the moment but will likely raise them again. Going up once or twice later this year,” says Yung-Yu Ma, chief investment strategist at BMO Wealth Management.

These events have given the market a “breather”. as investors “digest” the prospect of the central bank’s hike campaign.adds this expert in statements collected by CNBC.

CME Group’s tool, which compiles analysts’ estimates for rate hikes, currently expects US interest rates to rise 25 basis points from 76.9% at the next meeting on July 26, but expects September to remain at the same level priced in 67.2%.

As for the economic agenda across the Atlantic for this Friday, we have for reference following the release of theManufacturing and Services PMIs And Statements by two Fed Chairmen, that of St. Louis James Bullard, one of the great “hawks” of the Federal Reserve and Cleveland Fed President Loretta Mester.

Meanwhile, the morning news reported on the troubles unleashed at Starbucks due to the impending strike at more than 150 of its stores in Seattle, US, with the consequent fall in the pre-opening price, as Workers United told the union that some stores will be closed with the arrival of the Pride month could not be decorated. We’re talking about a strike by nearly 3,500 workers that could happen next week.

Today with the expected correction of Ocado’s actions, that in the opening Yields over 7% due to yesterday’s 40% exponential surge after The Times newspaper suggested Amazon may be interested in buying the company, even with the launch of a takeover bid by the online retail giant.

The main contributors include the falls of more than 18% recorded by Virgin Galactic following the filing with the SEC, the regulator of the American market Agreement reached with Credit Suisse Securities, Morgan Stanley and Goldman Sachs Who will be responsible for executing your capital increase? In fact, the company stated that “it intends to use it the net proceeds you receive for the development of your spacecraft fleet and infrastructure to scale its operations and for general corporate purposes, including working capital and general and administrative matters.” Once it has announced that it will operate its first commercial space tourism flight next week, between June 27th and 30th.

Following the company’s announcement, investors also need to keep an eye on Amazon a $100 million investment in artificial intelligence, in your cloud service. The investment serves to build the AWS Generative AI Innovation Center. The aim is to bring customers and AWS experts together and involve them in the development of new artificial intelligence applications.

Under Armor shares fall nearly 3% after Wells Fargo downgraded its rating from overweight to equal weight. The company notes that the sportswear company has overexposure to North America, has excess inventory, and has a CEO who has only been at the helm for six months. On Thursday, Under Armor cut 50 jobs at its Baltimore headquarters, The Baltimore Sun and Footwear News reported. also fell after Deutsche Bank noted that the company was no different than other AI names at its investor day. The German company confirms this sell recommendation.

Boeing Co also remains under pressure after falling more than 3% yesterday. One of its largest suppliers stopped production due to the call for a strike. This threatens to disrupt plans to ramp up production of its 737 Max model.

As for the US Treasury bond yield, the 2-year bond is at 4.705%, while the 10-year bond, a benchmark in the United States, reaches 3.706%.

Meanwhile, the dollar in its index recovered 0.6% to level 103, Now he has euro dollar It also shows the US currency’s revaluation at 1.0898 units

As for the price of oil, it continues to fall in a move that started yesterday West Texas is moving away from the $70 level. is placed, down 2.24%under pressure from central banks and oil stocks in the United States, at $67.64.

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