Written by Noel Randwich and Devik Jain
July 15 (Reuters) – The New York Stock Exchange ended in chaos on Thursday as the Nasdaq was affected by a decline in big tech stocks as investors took profits after the publication of the number of weekly unemployment lists in the United States. amidst inflation fears.
The Dow Jones index increased 0.15%, or 53.79 points, to 3,4987.02 points.
The largest S&P-500 index lost 14.27 points, or 0.33%, to 4,360.03 points.
The Nasdaq Composite Index, for its part, fell by 101.82 points (0.70%) to 14,543.13 points.
Amazon, Apple, and Facebook all fell, as did Nvidia and Tesla.
The S&P-500 tech sector fell, ending a four-session series of increases, as appetite for high-growth stocks this week drove the S&P-500 and Nasdaq to unprecedented levels.
Among other major sectors in the S&P-500, most fell, as energy suffered from lower crude oil prices after the announcement of the OPEC+ agreement on oil supplies.
Data released today shows that weekly jobless claims in the US fell to a sixteen-month low.
After being tested by parliamentary committees, US Federal Reserve Chairman Jerome Powell reiterated the central bank’s position that the current rise in inflation was a passing phenomenon.
However, many investors are concerned that prolonged inflation could prompt the Federal Reserve to tighten monetary policy sooner than expected.
“People are very worried about inflation, tax rates and elections (for Congress in 2022). These things are very much on people’s minds,” said Andrew Mays, chief investment officer at Meridian 6, referring to recent phone interviews with clients of the corporation.
With major US banks kicking off their quarterly earnings season this week, Morgan Stanley fell slightly during the session, despite larger-than-expected earnings in the second quarter.
Johnson & Johnson incurred losses after announcing the recall of five lines of spray sunscreen products in the United States after the discovery of a carcinogenic chemical in certain samples.
(French version by Jean Terzian)
“Unapologetic pop culture trailblazer. Freelance troublemaker. Food guru. Alcohol fanatic. Gamer. Explorer. Thinker.”