Business & Investment

Nasdaq is profitable, but S & P 500, Dow is declining despite hotter than expected retail sales

The US Equity Benchmark ended a mixed day, with the Federal Reserve Board’s activity indicators in the Philadelphia area showing an unexpected rise in August, and the Nasdaq Composite Index Recorded a slight rise.

How to trade stocks
  • Dow
    DJIA

    It fell by 63.07 points (0.2%) to 34,751.32.

  • S & P 500
    SPX

    It was low at 6.95 points, or 0.2%, 4,473.75, which ended.

  • Nasdaq Composite Index
    COMP

    He scored 20.39 points, or 0.1%, and finished at 15,181.92.

30 Dow Jones Industrial Averages rose 236.82 points (0.7%) on Wednesday to 34,814.39, S & P 500
SPX

Nasdaq Composite Index, up 0.9%
COMP

It increased by 0.8%.

What moved the market

Data showed August retail sales increased 0.7%, Against the forecast of a 0.7% decline. Excluding automobiles, sales were expected to increase by 1.8%, compared to 0.2%.

Apart from this, the Philadelphia Federated Bank’s activity index soared from 19.4 a month ago to 30.7 in September.At the same time, the data showed the first claim for unemployment allowance Rise more than expected Although the number of ongoing complaints decreased during the week ending September 11.

“We haven’t yet confirmed that a disruption of consumer sentiment could reduce retail sales. FxPro senior market analyst Alex Kuptsikevich said in an email comment that other indicators were released at the same time as the sales report. Also gives hope for something better.

However, stocks struggled to recover, the S & P 500 and Nasdaq ended in a negative territory, and analysts pointed out that the rise in retail sales headlines was partially offset by data cuts in July.

The rally in the second half of the session temporarily helped push all three major stock indices into the positive territory, but only the Nasdaq Composite closed on the green, rising for the second straight day.

Edward Moya, senior market analyst at OANDA, said: Going back to some of their favorite stocks, after everything has been processed, American consumers are too strong to bet on this stock market. “

Historically, September has tended to be a weak month for US equities, with the Dow down 1.55% and the S & P 500 down 0.93% until the first 10 trading days of September, according to Dow Jones market data. .. Friday also brings about a so-called quadruple witch day, when stock options, individual stock futures, stock index futures, and stock index options all expire and volatility occurs.

look: Stock Market Investors Support “Four Witches” This Friday

The coronavirus delta mutant has hit some US states, Discussion about the need for booster shots The Food and Drug Administration states that the vaccines currently being administered provide adequate protection against serious illness and death from COVID-19, but vaccine manufacturers continue. Moderna Inc..
MRNA

The effect is said to diminish over time.

Which company was the focus on?
  • Share Cisco Systems Inc.
    CSCO

    It fell 0.4% after the company forecast earnings late Wednesday Grow 5% to 7% It easily exceeded analysts’ expectations over the next four fiscal years.

  • Beyond Meat Ink
    BYND

    Shares fell 2.3% after Piper Sandler analyst Michael Raybury. Turned bearish Plant-based meat companies can be too optimistic because of weak growth prospects and concerns about the food service industry’s sales outlook.

  • AMC Entertainment Holdings Co., Ltd.
    AMC

    Announced to accept Bitcoin in August
    BTCUSD

    For online tickets and discount purchases by the end of the year.In a tweet on Wednesday, CEO Adam Aaron said Ethereum
    ETHUSD,

    Litecoin
    LTCUSD

    And Bitcoin Cash
    BCHUSD
    Is also accepted.. Share fell 1.7% after falling 9.4% in the previous two sessions.

How were the other assets carried?
  • NS 10-Year Government Bond Yield
    BX: TMUBMUSD10Y

    It increased by 2.9 basis points to 1.331%. Yields and debt prices move in opposite directions.

  • ICE USD Index
    DXY,

    Currency readings for the baskets of the six major rivals jumped 0.3% to 92.84.

  • Oil futures pulled back From 7-week highs on US benchmarks
    CL00

    Gold futures on the New York Mercantile Exchange flat at $ 72.61 a barrel
    GC00

    $ 38.10, down 2.1% Settle for $ 1,756.70 an ounceThis was the steepest rate of bullion per day and the dollar’s depreciation since August 6.

  • For European stocks, Stocks Europe 600
    XX: SXXP

    0.4% increase, FTSE 100
    UK: UKX

    It increased by 0.2%.

  • In Asia, Shanghai Composite
    CN: SHCOMP

    Hang Seng Index in Hong Kong, down 1.3%
    HK: HSI

    Japan’s Nikkei 225 fell 1.5%
    JP: NIK

    Lost 0.6%.

Nasdaq is profitable, but S & P 500, Dow is declining despite hotter than expected retail sales

http://www.marketwatch.com/news/story.asp?guid=%7B20C05575-04D4-B545-763E-A007A0766948%7D&siteid=rss&rss=1 Nasdaq is profitable, but S & P 500, Dow is declining despite hotter than expected retail sales

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