(RTTNews) – After trading with contrary instructions at the beginning of the session, the major U. S. inventory indices are not in the U. S. U. S. They continue to post a combined functionality at noon on Thursday. The Nasdaq showed a noticeable upward movement, while the Dow Jones slipped firmly into negative territory.
Currently, the tech-rich Nasdaq is down from its day-to-day ratings but held higher at 98. 47 issues or 0. 7% to 14,138. 16. Meanwhile, the Dow is down 285. 25 issues or 0. 8% to 33,748. 42 and the S
With the day’s drop, the Dow continues a recent downward trend, falling to its lowest intraday point in nearly a month.
The combined functionality on Wall Street comes as investors continue to assimilate yesterday’s announcement from the Federal Reserve, which saw the central bank expand its schedule for raising rates.
The temporary replacement comes as the Fed also forecasts much faster inflation for the value of core customers this year, although the backers have always attributed rising inflation to “transitory factors. “
He did not allude to a replacement in Fed officials’ thinking about the central bank’s asset acquisition program, however, new interest rate forecasts still recommend that a cut is most likely in the coming months.
The Fed’s asset acquisition program has been credited with helping equity markets during the coronavirus pandemic, and stocks hit record levels despite significant economic problems.
On the economic front, the Labor Department released a report that showed an unanticipated increase in initial job applications in the week ending June 12.
The buildup surprised economists, who expected task records to fall to 359,000 from the 376,000 first reported last week.
Work records fell in 8 of the last few weeks, falling to their lowest point since March 2020.
A separate report from the Federal Reserve Bank of Philadelphia showed that production activity in the Philadelphia domain grew at a slower rate in June.
Meanwhile, the Conference Board released a separate report that looks like a significant buildup on its index of key U. S. economic indicators. U. S.
Energy stocks fell sharply during the session, with a sharp drop in the value of crude oil weighing on the sector. Crude for July delivery fell from $1. 60 to $70. 55, consistent with the barrel.
Reflecting weakness in the electric sector, the Philadelphia oil services index was down 7. 3%, the NYSE Arca Oil index was down 3. 7% and the NYSE Arca natural gas index was down 3. 1%.
A drop in gold is also contributing to a big weakness in gold stocks, with the NYSE Arca Gold Bugs index falling 5. 7% to its lowest intraday point in more than a month.
The liquidation of gold stocks comes as the value of gold for delivery in August falls from $84. 50 to $1,776. 90 an ounce, while the value of the US dollar soars in reaction to the Fed’s announcement.
Banking, chemical and transportation stocks also experienced big weakness that day, while the tech-heavy Nasdaq continued to take advantage of the strength of semiconductor and software stocks.
Other markets
In foreign trade, stock markets in the Asia-Pacific region recorded a combined performance in Thursday’s session. Japan’s Nikkei 225 index fell 0. 9%, while China’s Shanghai Composite Index rose 0. 2%.
Major European markets also ended the day mixed. While Britain’s FTSE hundred index fell 0. 4%, Germany’s DAX index rose 0. 1% and France’s CAC 40 index rose 0. 2%.
In the bond market, Treasuries particularly recovered after suffering tensions following the Fed’s announcement. Subsequently, the yield on the benchmark ten-year bond, which is moving in the opposite direction to its price, has fallen 6. 3 basis issues to 1. 506%.