Stock prices without a clear direction on Wall Street, the market “horror factor” dropped to its lowest reading of the year: “Stock market fundamentals support growth”


New York

The headlines of the New York stock exchanges closed inconsistently on Friday.

The broad S&P 500 index and the technology-focused Nasdaq index rose rapidly on a weekly basis. The Nasdaq broke its record on Tuesday, Wednesday and Thursday.

On a weekly basis, the Dow Jones index rose 3.4 percent, the broad S&P 500 index rose 2.7 percent and the Nasdaq index rose 2.4 percent.

The Dow index, which tracks major U.S. companies, fell the worst last week, according to The Wall Sreet Journal, since October last year. Share prices fell as members of the Federal Reserve’s Open Market Committee signaled they would see possible rate hikes as early as 2023, when back in March, central bankers did not believe they would raise interest rates until 2024. Seven open market committee members will see the Fed raise interest rates as early as next year.

President Joe Biden the infrastructure rehabilitation program unveiled on Thursday was positively received in the stock market. The price tag for the eight-year infrastructure rehabilitation is $ 1.2 trillion, compared to $ 2.25 trillion for the plan announced by Biden in March.

The VIX index, which measures market volatility, was the “horror coefficient” when stock exchanges closed 2.2 percent, down 15.6 points after the stock market closed. Readings above 20 points indicate turmoil in the market. The reading is the lowest reading at the beginning of the year, according to The Wall Street Journal.

“It’s just normal for stock prices to fluctuate a bit from time to time. But stock market fundamentals support growth and stock ratios improve – this dominates the market, ”said the fund manager. Hani Redha financial company PineBridge Investmentsiltä commented on The Wall Street Journal.

Technology shares electric car manufacturer Teslan the share fell 1.2 percent, Microsoft stock fell 0.6 percent, online trading Amazon share 1.4 percent and Google parent company Alphabet C share 0.2 percent.

Energy stocks rose this week as crude oil rose. Occidental Petroleum rose 17.6 percent during the week, Marathon Oil 12 per cent and Devon Energy 11.3 percent.

The 10-year rate on U.S. government debt was on the rise after stock markets closed and was quoted at 1.529 percent.

The Dow Jones index rose 0.7 percent, the broad S&P 500 index rose 0.3 percent and the Nasdaq index fell 0.1 percent.


Source: Arvopaperi by www.arvopaperi.fi.

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