Home Business New York Stock Market: Dow Closes Down 9.42 Points | RYT9

New York Stock Market: Dow Closes Down 9.42 Points | RYT9

by news dir

The Dow Jones Industrial Average closed lower overnight after major listed companies including Nordstrom and Gap Inc reported lower-than-expected results. However, the S&P500 and Nasdaq closed in positive territory. The factor was driven by buying shares in the real estate group. and technology group

The Dow Jones Industrial Average closed at 35,804.38, down 9.42, or -0.03%, the S&P500 closed at 4,701.46, up 10.76, or +0.23%, and the Nasdaq closed at 15,845.23, up 70.09, or +0.44%.

An analyst at New York-based AXS Investments said: The trading environment on the New York Stock Exchange was pressured by weak earnings of listed companies. including concerns about COVID-19 The new epidemic in Europe and current expectations that the US Federal Reserve (Fed) may raise interest rates After the Fed released the minutes of the last meeting.

The Fed’s Monetary Policy Committee (FOMC) released minutes of its November meeting last night, saying the Fed was ready to speed up its rate hikes. and reduce the amount of the bond purchase program in accordance with the quantitative easing (QE) measures if inflation figures remain high

nordstrom stock The company’s third-quarter earnings per share of 39 cents was lower than the 56 cents analysts expected. Facing supply chain problems in the pre-holiday shopping season including Christmas and New Year festivals

U.S. apparel retailer Gap Inc. fell 24.05 percent after it posted third-quarter earnings per share of 27 cents, 50 cents lower than analysts’ expectations, while revenue was 3.94. billion dollar That was lower than analysts’ estimates of $4.44 billion.

Real estate and technology stocks rose. Supporting the S&P500 and Nasdaq, the Nasdaq closed in positive territory, with Jones Lang LaSalle up 1.64 percent, CBRE Group up 0.39 percent, and CTO Realty Fury up 0.11%.

In the technology sector, Nvidia was up 2.92 percent, Meta Platforms (Facebook) was up 1.13 percent, Intel was up 1.34 percent, and Micron Technology was up 0.94 percent.

HP Inc. jumped 10.10% and Dale Technologies rose 4.81% after both companies posted better-than-expected third-quarter results on strong demand for PCs.

Zoom Video Communications shares were up 0.8 percent after ARK Investment Management, run by Katie Wood, bought about $133 million in Zoom on Tuesday, indicating that Katie would have a higher stake in the company. Wood remains positive on the video conferencing company’s business outlook.

Tesla shares jumped 0.63% despite the U.S. Securities and Exchange Commission (SEC) saying Elon Musk sold 934,000 Tesla shares on Tuesday (Nov 23). Valued at $1.05 billion This brings Musk’s total share sale this month to $9.85 billion.

US authorities released strong economic data last night. This included gross domestic product (GDP) for the third quarter of 2021, which grew 2.1%, higher than the first estimate of 2.0%.

The number of first-time claims for unemployment benefits fell 71,000 to 199,000 last week. That was the lowest level since Nov. 15, 1969. The general personal consumption expenditure (PCE) price index, which includes food and energy, rose 5.0 percent year-on-year in October. This is the largest increase since November 1990.

However, US orders for durable goods, such as planes, cars and heavy machinery that last three years or more, fell 0.5% in October, after falling 0.4% in September.

  • The New York Stock Exchange will be closed today (25 Nov) for Thanksgiving. (Thanksgiving Day) and will be open for trading for only half a day on Friday, Nov. 26.

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