NY stock closed without direction in the face of a complex economic recovery. finance

NY stock closed without direction in the face of a complex economic recovery.  finance

trio main stock index From wall Street finished his work without a direction On this Wednesday (29). The move comes partly as concerns about recovery from yesterday’s losses and partly economic recovery.

or index Dow Jones ended the day up 0.26% at 34,390.72 points, while S&P 500 rose 0.16% to 4,359.46 points, and Nasdaq A decline of 0.24% was recorded at 14,512.44 points. Indices started the day with an upward trend, lost some momentum after speeches by central bankers at a panel of the European Central Bank (ECB), started rising but lost strength again, closing the day on the Nasdaq with being. decline.

Today, the heads of monetary authorities from Japan, the United Kingdom, the European Union and the United States met in a meeting promoted by the European Central Bank (ECB). in the program, Jerome Powell, do the president federal Reserve (irrigated, US Central Bank) commented that high inflation is transient, it does not mean that it will fall quickly. The head of the US Monetary Authority also said that “it is supply that is limiting the recovery, so we face an unusual problem”.

After the meeting, index gains slipped, while DXY Dollar Index, which was already up 0.54% in the morning, gained further momentum and was trading at 94.405 points, up 0.68%, this afternoon. income already (Yield) The ten-year T-note, which fell in the morning, changed its signal in the afternoon, skidded and started trading at 1.527%, down from 1.534% of the previous close.

“It seems like investors just want to eliminate the debt cap drama and focus on the global economic recovery, which is set to happen as delta risks ease and vaccination rates improve around the world. continues.” Edward Moya, senior analyst Oanda, said in a statement.

Given the fear of a more complex economic recovery, the segments that stood out among the sector indices of the S&P 500 were public services, with a gain of 1.30%, and consumer goods, with an advance of 0.87% — both are usually defensive positions for investors. no wonder food multinational Tyson Foods finished 3.44% and kraft henzo up 2.48%.

On the loss side, the area of Technology Another loss of 0.10% was recorded. In-spite of this, Netflix Advanced 2.63% after studio acquisition announcement Night School Studiohandjob game maker.

— Photo: Sergeytokmakov/Pixabay

About the author: Sarah Gracie

Sarahis a reporter covering Amazon. She previously covered tech and transportation, and she broke stories on Uber's finances, self-driving car program, and cultural crisis. Before that, she covered cybersecurity in finance. Sarah's work has appeared in The Wall Street Journal, Bloomberg, Politico, and the Houston Chronicle.

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