omdok
No Result
View All Result
Wednesday, June 29, 2022
  • Login
  • Home
  • World
  • Economy
  • Business
  • Markets
  • Tech
  • Real Estate
Subscribe
omdok
  • Home
  • World
  • Economy
  • Business
  • Markets
  • Tech
  • Real Estate
No Result
View All Result
omdok
No Result
View All Result
Home Markets

Dow Jones stock markets futures now yesterday, S&P tgt wmt stock price

May 20, 2022
in Markets
148 8
In Hong Kong, stocks of Chinese internet companies dragged down wider benchmarks.

In Hong Kong, stocks of Chinese internet companies dragged down wider benchmarks.

31
SHARES
3.1k
VIEWS
Share on FacebookShare on Twitter

Thursday, the S&P 500 goes down again, getting closer to a bear market.

Thursday, the S&P 500 dropped, and the benchmark moved closer to a bear market. Investors kept selling stocks because they were afraid that the Federal Reserve’s plan to raise interest rates to fight high inflation would cause the economy to fall into a recession.

After falling 4% on Wednesday, the broad market index fell another 0.58 percent to 3,900.79. The index is about 19% below its all-time high from January, which puts it on the edge of a bear market.

The Dow Jones Industrial Average fell 236.94 points, or 0.75 percent, to 31,253.13. This happened a day after it also lost 1,164 points in one day, which was the biggest drop since 2020. The Nasdaq Composite fell by 0.26 percent to 11,388.50, after falling by 4.7% on Wednesday.

Greg Bassuk, CEO of AXS Investments, said, “The main lesson for investors is to be ready for more volatility for a while.” “We think that investors will be talking about volatility for the rest of Q2 and, well, for the rest of 2022.”

Both the S&P 500 and the Nasdaq are down more than 3% for the week, while the Dow is down 2.9%. Part of what caused these losses was back-to-back quarterly reports from Target and Walmart, which showed that higher fuel costs and less demand from customers were hurting results at a time when inflation was at its highest level in decades. Even though Target shares fell by 24% on Wednesday, they fell by 5.1% again on Thursday.

“The sharp sell-off in these companies (and other goods/consumer companies this quarter) shows that inflationary pressures are finally having an effect on earnings,” Maneesh S. Deshpande, head of U.S. equity strategy at Barclays, said in a note on Thursday. “Despite higher inflation for a good part of a year, [S&P 500] margins and future earnings have stayed strong, but that doesn’t seem to be the case anymore.”

Cisco was the latest big company to fall because of its results. On Thursday, the tech giant fell by 13.7%. Cisco said after the bell on Wednesday that its quarterly sales fell short of what analysts had expected, and it warned that sales for the next quarter would also fall short.

Dow Jones stock markets futures now yesterday, S&P tgt wmt stock price
Dow Jones stock markets futures now yesterday, S&P tgt wmt stock price
In the other hand, some tech stocks went up again, which helped the S&P 500 and the Nasdaq Composite at different times during trading on Thursday. Shares of software company Synopsys went up by 10.3% on Thursday after the company beat its earnings forecast. Shares of the cloud company Datadog went up by 9.6%.Thursday, Nvidia and Amazon also got close to being in the black.

Stocks have been under pressure all year, and investors first moved away from expensive tech stocks that didn’t make much money. But since then, the sell-off has spread to more parts of the economy, such as banks and stores, as investors became more worried about a recession.

On Thursday, a number of well-known stocks in the S&P 500 fell to new 52-week lows. Target stock is trading at prices that haven’t been this low since November 2020. The price of Walmart shares is at its lowest level since July 2020. Bank of America and Charles Schwab’s stocks fell to their lowest point since February 2021. Intel stock has hit lows that haven’t been seen since October 2017.

“The problem now is that it seems like there’s nowhere to hide,” BTIG’s chief market technician, Jonathan Krinsky, wrote. On Wednesday, he said, “They came for consumer names, but they still sold beaten-down growth. In other words, money is moving into cash instead of from one sector to another.”

Stock Markets Plummet, Dow On Pace For Biggest Single Day Drop Since 2020

Krinsky said, “It won’t be a straight line, but this shows that it’s much easier to sell rallies in bear markets than to buy dips.”

Several Wall Street strategists gave very bad predictions for stocks if the Fed’s rate hikes caused a recession. GDP fell by 1.4% in the first quarter, so things are already starting to slow down.

Deutsche Bank cut its official goal for the S&P 500 overnight, but said that a recession would bring even bigger losses.

In a note, Binky Chadha, the chief global strategist at Deutsche Bank, said, “If we slide into a recession soon, we see the market selling off much more than average, i.e., into the upper half of the historical range, and given the high initial overvaluation, -35% to -40% or S&P 500 3000.”

This week, Federal Reserve Chair Jerome Powell said again at a Wall Street Journal conference that “there won’t be any hesitation” to bring down inflation.

The Labor Department said Thursday that the number of weekly jobless claims in the U.S. rose to 218,000 for the week ending May 14. This is another sign that economic growth is slowing.

Tags: Market Stories

Market News

After a video of a Melbourne store shelf with nothing but broccoli stalks went viral, a supermarket in Australia has started to crack down on "vegetable thieves."
Business

Broccoli theft, melbourne woman Jenn Shaw filmed inside a Coles

by adminmi
June 29, 2022
0

After a viral video of broccoli being "stolen," a grocery store starts to take action. After a video of a...

Read more
Daniel H. Weiss, the president and CEO of the Metropolitan Museum of Art, will be there in August 2020 when the museum reopens after a pandemic shutdown.

Daniel H. Weiss would step down as MET president and chief executive in June 2023

June 29, 2022
Income tax 551 rates 2022/23, does taxable income include super

Income tax 551 rates 2022/23, does taxable income include super

June 27, 2022
Hackers who want to take advantage of flaws in the world of decentralized finance are now focusing on so-called blockchain bridges.

Hackers stolen $100 million in cryptocurrency from Horizon blockchain bridge

June 25, 2022
Bad weather is making it hard to get things.

Why is lettuce and snow pea vegetable so expensive in Woolworths Australia

June 24, 2022
Real Estate

Statement builders pty ltd and affordable modular homes central coast

June 29, 2022

Categories

  • Business
  • Cryptocurrency
  • Economy
  • Gadget
  • Markets
  • Politics
  • Real Estate
  • Startup
  • Tech
  • Uncategorized
  • World

Site Navigation

  • Home
  • Advertisement
  • Contact Us
  • Privacy & Policy
  • Other Links
omdok

About the latest trends in the business world in-depth features on a variety of topics. Focus on the intersection between business and pop culture and between business and politics.

omdok.com © 2021 all rights reserved

No Result
View All Result
  • Advertisement
  • Contact Us
  • Homepages
  • World
  • Economy
  • Business
  • Markets
  • Tech
  • Real Estate

omdok.com © 2021 all rights reserved

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Go to mobile version