Home Business U.S. stocks closed mixed after the roller coaster session

U.S. stocks closed mixed after the roller coaster session

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After a sharp decline in the previous three sessions, the stock went up roller coaster during Tuesday’s trading day. The main averages wildly swayed back and forth across the unchanging line before ending the session in mixed mode.

The tech Nasdaq jumped 114.42 points or 1 percent to 11,737.67, and the S&P 500 rose 9.81 points or 0.3 percent to 4,001.05, while the narrower Dow fell 84.96 points or 0.3 percent by the end of the session, by the end of level 34. year

Volatility in the day came as traders continued to discuss whether to markets reached its bottom after recent sales.

The hunt for profit contributed to the early strengthening of Wall Street, as some traders sought to pick up stocks at lower levels.

However, during the morning interest in buying declined as traders continued to fear inflation, higher interest rates and global prospects. savings.

Shares continued to fluctuate throughout the session as traders awaited the release of key inflation data in the coming days.

The Ministry of Labor is due to release a report on consumer price inflation on Wednesday, with annual price growth expected to slow to 8.1 per cent in April from 8.5 per cent in March.

The latest picture of inflation could affect expectations as to how aggressively the Federal Reserve plans to raise interest rates.

Sector News

Biotech stocks showed a significant rebound after a recent weakness: the NYSE Arca biotech index rose 3.3 percent since the previous session at its lowest closing level in two years.

The hunt for profit also contributed to the rebound in semiconductor stocks, with the Philadelphia semiconductor index jumping 2.5 percent. The index also ended trading on Monday at a two-year low.

At the same time, tobacco stocks showed a significant downward decline in the day, pulling the NYSE Arca Tobacco index down 3.5 percent to its lowest closing level in more than a year.

Shares of commercial real estate, housing and communal services, sensitive to interest rates, also came under pressure along with shares of telecommunications and banks.

Other markets

In foreign trading, stock markets in the Asia-Pacific region on Tuesday fell mostly lower, although China’s Shanghai Composite Index stopped the decline and jumped 1.1 percent. Japan’s Nikkei 225 index fell 0.6 percent and Hong Kong’s Hang Seng index fell 1.8 percent.

Meanwhile, major European markets have returned up after recent weakness. While the German DAX index jumped 1.2 percent, the French CAC 40 index and the UK FTSE 100 index rose 0.5 and 0.4 percent, respectively.

In the bond market, Treasury bonds extended the rebound observed during the previous session. As a result, the yield of the reference ten-year note, which moves against its price, fell by 8.6 basis points to 2.993 percent.

Looking ahead

Trading on Wednesday is likely to be driven by a reaction to the Labor Ministry’s report on consumer price inflation in April.

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