Wall Street ends lower but out of daily lows | News from the region

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US stocks ended lower but far from their lows of the day, with the Nasdaq staging a furious comeback at the end of the session as some investors appeared to be looking for bargains even though they worried about rising prices. interest rate. While the Nasdaq .IXIC trimmed losses in Monday afternoon’s trading, it had previously fallen as much as 10.37% below its intraday all-time high reached on November 22. In addition to watching bond yields rise, investors are also eagerly awaiting this week’s inflation data and what it will mean for the U.S. Federal Reserve’s tightening of monetary policy, according to Peter Tuz, chase chase. Investment Counsel. The analyst is also concerned about the impact of the latest coronavirus case numbers on the fourth quarter earnings season which begins later this week. “People remain concerned about the appearance of inflation and how the Fed is going to act to alleviate it,” Tuz said. As the Nasdaq sharply cut losses during the session, some investors showed up looking for bargains after the massive selloff earlier in the day, according to Rick Meckler, a partner at Cherry Lane Investments, an office of family investment in New Vernon, New Jersey. . “It’s the tension between the big market players who have moved from growth to value and retail investors who are only interested in names in technology,” Meckler said. “We’ve come to the point where you wonder if the roller coaster has peaked and is heading straight down. But basically there are a lot of buyers in this market who are buying at the bottom of the wave. According to preliminary data, the S&P 500 lost 6.03 points, or 0.13%, to end at 4,671.00 points, while the Nasdaq Composite gained 11.86 points, or 0.08%, to 14,947.76. The Dow Jones Industrial Average fell 166.65 points, or 0.46%, to 36,065.01. Traders have stepped up their rate hike expectations since the Fed minutes from the December meeting appeared to signal a rate hike earlier than expected. Goldman Sachs has said it expects the Fed to hike rates four times in 2022, compared to its previous forecast of three. Earlier, the benchmark 10-year Treasury yield hit its highest level in nearly two years on Monday. Nasdaq heavyweight Tesla fell earlier in the session, but the stock regained lost ground to trade higher late in the session. Meckler said retail investors appeared to be returning to the stock in search of a bargain after chief executive Elon Musk tweeted on Friday that the electric car maker would raise the U.S. price for its advanced driver assistant software. Nike shares fell after HSBC lowered the stock to “hold”. Associated Australian Press


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