NEW YORK (Archyde.com) – U.S. stock markets turned down after a series of economic data confirmed another rate hike by the Federal Reserve. However, bank stocks were bought after the three major banks released strong quarterly results.
Stocks rallied yesterday as economic data showed a slowdown in inflation and the Fed’s aggressive rate-hiking cycle was nearing an end. “Yesterday may have gone a little too far,” said Sal Bruno, chief investment officer at IndexIQ in New York. .
JPMorgan Chase & Co., Citigroup and Wells Fargo & Co. released their first-quarter results today, which beat market expectations as consumer spending and business investment held up despite rising interest rates. rice field.
“It’s clear that the regional bank crisis is not systemic,” said Ross Mayfield, an investment strategy analyst at Baird in Louisville, Kentucky. I didn’t suffer any damage.In fact, I may have benefited from it.”
JPMorgan rose 7.6% after the earnings release. It was the biggest one-day gain since November 9, 2020. Citigroup rose 4.8%. W Fargo, meanwhile, fell 0.1%. The S&P Banking Index rose 3.5%.
U.S. economic data such as retail sales, industrial production and consumer confidence released today were mixed. All in all, the forecast confirms the Fed’s decision to raise interest rates by 0.25 percentage points at its next meeting in May.
“Industrial production and capacity utilization were stronger than expected, indicating the economy is still buoyant,” said IndexIQ’s Bruno. He indicated that there is.
Seven of the S&P’s 11 major sectors fell. Real estate fell the most. Financials, on the other hand, rose 1.1%, the biggest gain of the 11 sectors.
BlackRock, the world’s largest asset manager, rose 3.1%. Buying came after quarterly earnings beat expectations.
Aircraft giant Boeing fell 5.6%. Boeing said the day before that it had stopped delivering some of its flagship 737 MAX planes after a quality issue was reported by aerospace parts company Spirit Aerosystems. Spirit Aerosystems fell 20.7%.
Losers outnumbered gainers on the New York Stock Exchange by a ratio of 2.01 to 1. On the Nasdaq, the number of declining stocks was 2.07 to 1.
Total trading volume on U.S. exchanges is 9.98 billion shares. The average over the last 20 trading days was 11.31 billion shares.
Closing price change % Opening price High price Low price Code
Dow 30 33886.47 -143.22 -0.42 33981.7 34082. 33730.
1 94 85
Closing price of previous business day 34029.69
NASDAQ Composite 12123.47 -42.81 -0.35 12117.9 12205. 12026.
1 72 55
Closing price of previous business day 12166.27
S&P combined 500 species 4137.64 -8.58 -0.21 4140.11 4163.1 4113.2
9 0
Closing price of previous business day 4146.22
Dow Transport 20 14246.60 +60.05 +0.42
Dow 15 956.47 -12.11 -1.25
Philadelphia Semiconductor 3070.45 -4.49 -0.15
VIX index 17.07 -0.73 -4.10
S&P general consumer goods 1144.40 +1.47 +0.13
S&P material 509.65 -3.46 -0.67
S&P Industries 845.07 -1.02 -0.12
S&P consumer staples 785.47 -4.59 -0.58
S&P Financials 547.01 +5.71 +1.05
S&P Real Estate 229.59 -3.93 -1.68
S&P Energy 670.32 +1.28 +0.19
S&P Healthcare 1568.38 -12.43 -0.79
S&P Telecom Services 197.18 +0.61 +0.31
S&P Information Technology 2599.12 -13.21 -0.51
S&P Public Welfare 349.97 -3.94 -1.11
NYSE came out with 840 million plants
June Chicago Nikkei Futures USD 28530 + 110 Osaka vs.
June Chicago Nikkei Futures Yen 28490 + 70 Osaka vs.