Wall Street ended Tuesday in red numbers after a sharp drop in the hour leading up to the closing date, as concerns about global economic growth dampened investor appetite for risky assets and the market braced for significant inflation numbers.
“Growth is slowing down and central banks are still in a mode of austerity and I think that worries the markets,” says Keith Lerner at Trust.
The New York Leading Indexes ended as follows:
The S&P 500 fell 0.92% to 3,818.88.
Nasdaq fell 0.87% to 11273.15.
The Dow Jones Industrial Average fell 0.62 percent to 30,976.84.
Investors seemed to shy away from riskier assets in favor of traditional safe havens such as US government bonds and the dollar. The 10-year US government bond yield fell to 2.965 percent on Wednesday. The VIX, also known as the Fear Index, rose 1.11 percent to 27.28.
movements
Monday night it became known that the differenceCEO Sonia Singhal resigned with immediate effect, having held the position since the beginning of 2020. According to CNBC, Gap expects sales in the second quarter of this year’s accounting to drop to just under ten percent. The news was not well received on Wall Street, with the stock closing down 4.97 percent.
Tuesday morning PepsiCo their quarterly numbers. The company’s revenue increased 5.2 percent to $20.23 billion in the second quarter, 3.5 percent more than Bloomberg Terminal forecast. On Wall Street, the stock closed 0.57 percent lower, after rising in pre-trading.
Boeing The stock rose 7.56 percent after delivering the largest number of monthly flights since March 2019. Boeing delivered 51 flights in June, representing Highest monthly level since March 2019.
Financial giants JPMorgan, Morgan Stanley, Wells Fargo and Citigroup will present their numbers this weekend.
precise
The National Federation of Independent Business’s US sentiment index finished at 89.5 points in June, down from 93.2 points in May. The indicator shows sentiment among small American companies.
“Investors are now waiting for a torrent of corporate results, as well as the latest inflation numbers on Wednesday. It is natural to assume that market volatility will continue in light of the upcoming news flow,” Roger Berntsen wrote in an update from Nordnet.
Inflation figures are also closely watched this week as US authorities release June inflation figures on Wednesday. Overall inflation, including food and energy, is expected to rise to 8.8% from the 8.6% corn level, according to Dow Jones estimates.
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