Magical Trade
Friday, February 3, 2023
  • Home
  • Trade News
  • Email Whitelisting
  • Privacy Policy
No Result
View All Result
  • Home
  • Trade News
  • Email Whitelisting
  • Privacy Policy
No Result
View All Result
Magical Trade
No Result
View All Result
Home Trade News

Nasdaq rebounds after inflation-driven sell-off, Disney weighs on the Dow

by
November 11, 2021
in Trade News
0
0
SHARES
1
VIEWS
Share on FacebookShare on Twitter

RELATED POSTS

Amazon beats on fourth-quarter revenue but provides light guidance

Amazon’s advertising business grew 19%, while Google and Meta both deal with slowdowns

The Nasdaq Composite rebounded Thursday after hot inflation data and surging bond yields sparked a sell-off in technology stocks Wednesday.

The tech-heavy Nasdaq Composite gained 0.5% at 15,704.28. The S&P 500 closed 0.06% higher at 4,649.27. The Dow Jones Industrial Average shed 158.71 points, or 0.44%, to 35,921.23, led to the downside by Disney‘s 7% drop.

“We’re going to have this push and pull where we get these headline numbers that shock the markets a bit, like with inflation yesterday,” said Yung-Yu Ma, chief investment strategist at BMO Wealth Management.

Tech names rallied Thursday after October’s consumer price reading pushed up bond yields Wednesday. The spike in rates pressured growth pockets of the equity market.

Nvidia rose more than 3% and AMD each added more than 4%. Big Tech stocks like Facebook-parent Meta and Google-parent Alphabet both traded in positive territory.

Shares of commodity producers in the S&P 500 gained as investors bet on sustained inflation. The Materials Select Sector SPDR Fund hit a fresh intraday all-time high. Mining company Freeport-McMoRan ran up more than 9% and steel producer Nucor rose more than 3%.

On the downside, Disney shares fell more than 7% after the media giant missed on the top and bottom lines of its quarterly results. Disney+ subscribers also came in short of estimates.

The bond market was closed Thursday for Veterans Day.

Wednesday’s inflation report showed the consumer price index, which tracks a basket of products ranging from gasoline and health care to groceries and rents, rose 6.2% in October from a year ago, hitting its highest level in three decades.

“Inflation remains stubbornly high, to the surprise of many that expected prices to come back to earth sooner,” said Ryan Detrick, chief market strategist for LPL Financial. “The truth is you can’t shut down a $20 trillion economy and not feel some bumps as it restarts, but we are hopeful the supply chain issues will resolve over the coming quarters and inflation should calm down as well.”

Following the CPI data, traders moved up their expectations for when the first Fed rate hike would occur. The Fed funds futures market now sees greater odds of the central bank’s first full rate hike coming in July 2022.

ShareTweetPin

Related Posts

Amazon beats on fourth-quarter revenue but provides light guidance

by
February 3, 2023
0

In this article AMZN Follow your favorite stocksCREATE FREE ACCOUNT Andy Jassy, CEO of Amazon and then CEO of Amazon...

Amazon’s advertising business grew 19%, while Google and Meta both deal with slowdowns

by
February 3, 2023
0

In this article AMZN Follow your favorite stocksCREATE FREE ACCOUNT The regulator was concerned with Amazon's dual role as both...

Stocks moving in after-hours: Amazon, Alphabet, Apple

by
February 3, 2023
0

S&P 500 4,179.76 +60.55(+1.47%)   Dow 30 34,053.94 -39.02(-0.11%)   Nasdaq 12,200.82 +384.50(+3.25%)   Russell 2000 2,001.22 +40.41(+2.06%)   Crude...

Starbucks misses expectations as China Covid surge hurts international sales

by
February 2, 2023
0

In this article SBUX Follow your favorite stocksCREATE FREE ACCOUNT A Starbucks store is seen inside the Tom Bradley terminal...

Stocks making the biggest moves after hours: Apple, Amazon, Ford and more

by
February 2, 2023
0

In this article AMZNSBUXFAAPLGOOGL Follow your favorite stocksCREATE FREE ACCOUNT "Chinese companies are getting pretty competitive for iPhone assemblers. China...

Next Post

Rivian founder R.J. Scaringe is worth $2.2 billion after his company's two-day IPO pop

Nasdaq rebounds after inflation-driven sell-off, Disney weighs on the Dow

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

email

Get the daily email about stock.

Please Enter Your Email Address:



By opting in you agree to our Privacy Policy. You also agree to receive emails from us and our affiliates. Remember that you can opt-out any time, we hate spam too!

MOST VIEWED

  • Fund manager believes FAANG is dead — says now it’s all about MANTA

    0 shares
    Share 0 Tweet 0
  • Forget Tesla — this auto stock is the one to buy right now, analyst says

    0 shares
    Share 0 Tweet 0
  • Bank of America names its top global tech stocks — including one it says has upside of 100%

    0 shares
    Share 0 Tweet 0
  • This idiot-proof portfolio has beaten traditional stocks and bonds over 50 years

    0 shares
    Share 0 Tweet 0
  • Josh Brown says Nvidia’s potential is ‘scary’ ahead of a potential AI boom

    0 shares
    Share 0 Tweet 0
  • Home
  • Trade News
  • Email Whitelisting
  • Privacy Policy
All rights reserved by www.magicaltrade.net
No Result
View All Result
  • Email Whitelisting
  • Home
  • Privacy Policy

All rights reserved by www.magicaltrade.net