The Dow ended up just 3.07 points.

The New York Dow Jones Stock Exchange closed slightly higher on Tuesday (Nov. 29) amid volatile trading. The market was weighed down by a drop in Apple stocks and Amazon stocks. Investors will be watching Federal Reserve Chairman Jerome Powell’s speech today for any indication of the Fed’s interest rate direction.

  • The Dow Jones Industrial Average closed at 33,852.53 points, up 3.07 points or +0.01%,
  • The S&P500 index closed at 3,957.63 points, down 6.31 points or -0.16% and
  • The Nasdaq Index closed at 10,983.78, down 65.72 points or -0.59%.

Mr. Powell is scheduled to speak on monetary and fiscal policy. at the Brookings Institution today (November 30) at 1:30 pm US time or 1:30 am on December 1, Thai time Mr. Powell shares his views on the direction of the US economy. including inflation and the labor market

Ron Saba, an analyst at Horizon investment, said investors suspended trading ahead of Powell’s keynote speech at the Brookings Institution. Investors are concerned that Mr. Powell noting anything in this publication.

Apple shares fell 2.1 percent, their fourth straight session of decline, as the Foxconn factory in the Chinese city of Zhengzhou crashed. Apple, which supplies the iPhone, continues to experience production problems. from imposing lockdown measures to contain COVID-19 and the protests by workers against the quarantine and living conditions in the factory.

Counterpoint Research says customers who bought an iPhone 14 Pro in the US this year may have to wait up to 37 days to receive their order. which is significantly longer than the iPhone 13 Pro family, while the Bloomberg news agency has indicated that it has identified a source that Foxconn’s strike could lead to a drop in iPhone Pro production to 6 million units this year.

Amazon shares fell 1.63 percent, while other technology stocks also fell. Invidia shares were down 1.19%, Alphabet shares were down 0.9% and Tesla shares were down 1.14%.

However, energy stocks rallied alongside WTI oil prices, supported by expectations that the Chinese government could ease restrictions on COVID-19. Exxon Mobil shares were up 0.66%, Chevron was up 1.53%, and Halliburton was up 3.50%.

Shares of Chinese companies listed on the US stock market rose. The China Securities and Exchange Commission has lifted a ban on real estate companies offering stocks for capital raising. It aims to boost liquidity in the real estate sector, with Alibaba Group Holdings, Pinduoduo and all gaining more than 5%.

In economic data released late last night, the Conference Board’s index of consumer sentiment fell to 100.2 in November, the second straight decline. Consecutively affected by rising energy prices Including worries about a recession.

Investors will be keeping an eye on the US nonfarm payrolls release on Friday. Although analysts had expected jobs to increase by just 200,000 in November. after adding 261,000 jobs in October And November’s unemployment rate is expected to hold at 3.7%.

By InfoQuest News Agency (30 Nov ’22)

Tags: dowjones , Dow Jones , Stock Market , New York Stock Exchange

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