The New York Dow Jones Stock Exchange closed higher on Tuesday (December 20), as the market recovered from four consecutive sessions of decline, however, as investors worried about weak consumer spending trends during the holiday season. And US government bond yields rose after the Bank of Japan (BOJ) announced an expansion of the government bond yield frame at a meeting yesterday.
The Dow Jones Industrial Average closed at 32,849.74 points, up 92.20 points, or +0.28%, the S&P 500 closed at 3,821.62, up 3.96 points, or +0.10%, and the Nasdaq closed at 10,547.11, up 1,000 points, up +0.08%. .
Although the New York Stock Exchange closed in positive territory. But the trading environment continues to be weighed down by concerns about aggressive rate hikes by the Federal Reserve (Fed) and the BOJ has recently surprised by announcing an extension to its 10-year Treasury yield curve. Moving in the range of -0.5% to +0.5 % from the original range of -0.25% to +0.25%, which investors see as a sign that the BOJ will turn to tightening monetary policy following in the bank’s footsteps central throughout a word
In addition, investors are concerned about the earnings prospects of listed companies. Including consumer spending during the holiday season. By analysts from BMO he said. Consumer spending behavior this year will focus on products and services that offer discounts, exchanges and giveaways. Meanwhile, stock market investors are in a cautious position after the market has been extremely volatile this year.
Seven of the 11 stocks that make up the S&P 500 ended in positive territory, led by the energy sector soaring 1.52% after WTI oil continued its gains. Exxon Mobil stock rose 1.44%, Chevron rose 1.64%, Halliburton rose 3.77%.
FedEx stock fell 2.6% ahead of the company’s quarterly earnings release later today.
Tesla shares fell 8% after at least three brokerages cut their share price targets. Due to concerns about sluggish demand Including Mr. Elon Musk’s status in Twitter company After Mr. Musk gave Twitter users the opportunity to vote whether he should remain as CEO of Twitter. The poll found that the majority of Twitter users voted for Musk to quit.
Wells Fargo shares fell 2% after the US Securities and Exchange Commission fined Wells. Fargo is $3.7 billion. due to mismanagement of car loans and escrow account
For US economic data released last night the US Commerce Department reports that housing starts fell 0.5 percent in November to 1.427 million units, but building permits fell 11.2 percent to 1.342 million units in November.
Investors are keeping an eye on key US economic data this week. These include November used home sales, weekly jobless claims, 3Q/2022 gross domestic product (GDP), November durable goods orders, consumer price index, November Personal Consumption Expenditure (PCE) and Index University of Michigan Consumer Confidence December
