Stock market today: Dow ends lower on rout in retailers, rumble in regional banks By Investing.com
The Dow closed lower due to pressure from regional banks and disappointing quarterly results from retailers Macy's and Dick's Sporting Goods.
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Posted 8/22/2023, 8:05:00 PM
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The Dow and S&P 500 ended slightly lower due to concerns about the Federal Reserve keeping interest rates higher for longer, while the Nasdaq finished barely in the green; the financial sector fell 0.9%, dragged down by an S&P downgrade of credit ratings of regional U.S. lenders, and investors are awaiting clarity on the rate outlook from Fed Chair Jerome Powell.
Stocks closed lower Thursday despite Nvidia's blowout earnings results, as new data brought mixed signals for the economy’s trajectory and big tech stocks like Tesla and Amazon.com dragged down major indexes.
The U.S. stock market closed lower as an earlier rally driven by Nvidia's earnings report fizzled out, while treasury yields increased, and the S&P 500 is on track to end its five-month winning streak, with concerns over the Federal Reserve Chair Jerome Powell's speech at Jackson Hole weighing on investors.
The S&P 500 and Nasdaq closed higher for the week despite a pullback, while the Dow Jones Industrial Average closed lower for the second consecutive week.
Most stock markets in the Gulf ended lower due to a slightly hawkish outlook from the US Federal Reserve, with Abu Dhabi, Qatar, and Saudi Arabia experiencing declines.
Summary: U.S. stock markets closed mixed as the key inflation data for July showed steady price increases, with the Nasdaq up 0.1% and extending its winning streak to five days, while the S&P 500 closed down 0.2% and the Dow Jones Industrial Average fell 0.5%.
Despite a rise in Salesforce stock and the continued growth of marijuana stocks, the Dow Jones Industrial Average closed lower as investors awaited the release of the jobs report, while Tesla faced a probe into its CEO's reported plan to build a glass house.
The Dow Jones Industrial Average fell after weak economic data from China, while U.S. oil prices rose and Tesla's stock gained due to increased sales in China.
Wall Street stocks opened lower as traders grappled with concerns over China's struggling economy and climbing Treasury yields, with the S&P 500 and Dow Jones slightly down and the Nasdaq Composite slipping, while the focus remains on the Federal Reserve and seasonal market forces.
Wall Street closed August with declines, marking the worst month for the Dow, S&P 500, and Nasdaq Composite since earlier this year, while weak economic data and a cooling labor market have raised hopes that the Fed will maintain interest rates and provide growth opportunities for growth stocks like NVIDIA, Caterpillar, Amazon, Splunk, and Royal Caribbean Cruises.
Global equity markets closed mostly lower, with the exception of India and South Korea, as concerns about inflation and uncertainty around Fed rate actions weighed on investor sentiment. The Japanese Nikkei closed 1.16% lower due to lower-than-expected GDP growth and China's ban on iPhones. Officials at the Hong Kong Exchange halted trading after major flooding from storms. European markets were also lower, and US equity futures indicate a lower open.
Summary: The Nasdaq and S&P 500 closed slightly higher on Friday after a week of losses, while the Dow Jones Industrial Average rose 0.2%; however, all three major indexes ended the week lower due to rising oil prices, stronger-than-expected labor market data, and China's iPhone ban.
Wall Street stocks closed lower as Apple's fall event began and investors awaited key inflation data, with the Nasdaq Composite dropping over 1% and the S&P 500 decreasing by approximately 0.6%.
Stock indices closed in the red, with the Nasdaq 100, S&P 500, and Dow Jones Industrial Average all experiencing declines, while the technology sector underperformed and the energy sector led the session. The U.S. 10-Year Treasury yield dropped, while the Two-Year Treasury yield increased. The Small Business Optimism Index for August decreased, with inflation cited as a major concern among small business owners. Stocks opened lower on Tuesday, and U.S. futures trended lower as well. This week's focus will be on the Consumer Price Index and Producer Price Index data, which could impact the Federal Reserve's decision on rate hikes. Oracle's stock fell after missing sales estimates, while Casey's General and Tesla saw gains. JPMorgan's CEO criticized new Basel III regulations, and European indices traded in the green. In Asia-Pacific, markets ended mixed as traders await U.S. inflation data.
Stock indices closed higher today, with the Nasdaq 100, S&P 500, and Dow Jones Industrial Average all posting gains, while the healthcare sector lagged behind; the U.S. 10-Year Treasury yield increased, and the Atlanta Federal Reserve lowered its GDP growth estimate for the third quarter. Additionally, Fitch Ratings revised its global growth forecast for 2023 due to concerns about China's real estate sector, and economic data showed an increase in wholesale inflation and retail sales.
Stock indices closed lower today, with the Nasdaq 100, S&P 500, and Dow Jones Industrial Average all experiencing declines, while the technology sector was the session's laggard and the real estate sector was the leader but still lost ground. Additionally, the U.S. 10-Year Treasury yield and Two-Year Treasury yield both increased.
The major indexes, including the Dow Jones, S&P 500, and Nasdaq, finished lower on Friday ahead of the Federal Reserve meeting next week, with tech stocks dragging the Nasdaq lower and the S&P 500 and Nasdaq both falling below their 50-day moving average.
The S&P 500 and Nasdaq ended the week slightly lower due to a decline on Friday caused by higher bond yields and oil prices, while the Dow Jones Industrial Average saw a small weekly gain.
The Dow closes slightly higher despite weakness in consumer stocks, as tech and energy sectors rally ahead of the Federal Reserve meeting, while Apple sees strong demand for the newly launched iPhone 15.
Stocks closed lower on Tuesday due to uncertainty surrounding the Federal Reserve's future policy plans, as rising oil prices and concerns about inflation and interest rates weighed on investor sentiment. The Fed's decision on interest rates is expected to remain unchanged, but there is uncertainty about their next steps.
U.S. stock markets closed lower amid risk-off sentiment as the Federal Reserve began its two-day monetary policy meeting, while Asian markets, including Japan's Nikkei 225 and Australia's S&P/ASX 200, experienced declines; however, European markets, including Germany's DAX and the U.K.'s FTSE 100, traded higher.