New York stocks were mixed as they watched negotiations between Russia and Ukraine.
As of 10:11 am on the 30th (Eastern time), the Dow Jones Industrial Average at the New York Stock Exchange (NYSE) stood at 35,313.79, up 19.60 points (0.06%) from the previous field.
The Standard & Poor’s (S&P) 500 index fell 9.56 points (0.21%) to 4,622.04, and the Nasdaq index, centered on technology stocks, fell 53.01 points (0.36%) to 14,566.63, down from the battlefield.
Investors paid attention to tensions over Russia and Ukraine, government bond yield movements and private employment indicators.
Despite the positive assessment that the talks between Russia and Ukraine were positive, the Russian side said that there was no breakthrough yet, creating an atmosphere that the situation had to be watched.
The Russian government is optimistic that Ukraine has begun to formulate and submit a written proposal for talks with Ukraine, but said that it does not indicate a breakthrough.
Russia’s military attack on Ukraine continues to this day.
Investors are also paying attention to the inversion of US Treasury yields.
As the yield on the 10-year Treasury bond fell below the yield on the 2-year Treasury bond the day before, fears of an economic slowdown due to an interest rate inversion grew.
On this day, the 10-year Treasury yield traded at 2.41% and the 2-year Treasury bond yield slightly decreased to trade at 2.36%.
It usually takes several months for the economy to go into a recession after interest rates are inverted, or sometimes it does not go into a recession.
Private employment, announced today, showed a higher-than-expected increase.
Private sector employment increased by 455,000 in March from the previous month, according to the ADP National Employment Report.
This was down from the 486,000 people recorded in the previous month, but surpassed the 450,000 forecast by experts compiled by the Wall Street Journal (WSJ).
The US gross domestic product (GDP) in the fourth quarter of last year was confirmed to have increased by 6.9% year-on-year.
This is a slight downward revision from the provisional increase of 7.0%.
Among the S&P 500, energy, industrial and health stocks rose, while real estate, consumer discretionary, consumer staples, and technology stocks fell.
Shares of Procter & Gamble (P&G) fell more than 1% on the news that JP Morgan lowered its rating from Overweight to Neutral.
Shares of Lululemon Athletica rose more than 8% on the better-than-expected earnings report.
Apple’s stock, which rose for 11 consecutive trading days until the previous day, is also up 0.3% today.
New York stock market analysts expected the uptrend to continue as economic indicators remained strong despite concerns about the Federal Reserve (Fed) tightening.
However, the situation in Russia and Ukraine is expected to increase volatility in the market for the time being.
“A strong indicator is likely to trigger a risk appetite rally as it makes it easier for the Fed to accept tightening monetary policy,” said Naim Aslam, chief market analyst at Avatrade in the report.
“The prospect of a possible breakthrough in the meeting raised a little bit of hope the previous day, but that hope has dissipated,” Susanna Streeter, senior market analyst at Hargreaves Lansdowne, told The Wall Street Journal.
European stocks also showed mixed results.
Germany’s DAX index fell 1.54% and the UK FTSE100 index rose 0.22%.
The pan-European STOXX600 index fell 0.59%.
International oil prices rose.
The price of West Texas Intermediate (WTI) for May contract rose 4.1% to $108.57 per barrel, and the price of Brent for May contract rose 3.74% to $114.35 per barrel.
/yunhap news
