Home » Business » New York Stock Exchange: Dow Closes Up Just 3.07 Points | RYT9

New York Stock Exchange: Dow Closes Up Just 3.07 Points | RYT9

The Dow Jones New York Stock Exchange closed slightly higher on Tuesday (November 29) on volatile trading. The market was put under pressure by falling shares of Apple and Amazon. Investors will listen to Federal Reserve Chairman Jerome Powell’s speech today for any indication of the direction of the Fed’s interest rate.

The Dow Jones Industrial Average closed at 33,852.53 points, up 3.07 points, or +0.01%, the S&P 500 closed at 3,957.63 points, down 6.31 points or -0.16 %, and the Nasdaq closed at 10,983.78 points, down 65.72 points or -0.59%. .

Mr. Powell should talk about monetary and fiscal policy. at the Brookings Institute today (November 30) at 1:30 pm US time or 1:30 am December 1, Thai time Mr. Powell will share his views on the direction of the US economy. including inflation and the labor market

Ron Saba, Horizon Investment Analyst Said Investors delayed trading before Powell delivered a keynote address at the Brookings Institution. Investors fear Mr. Powell is signaling something in this announcement.

Apple shares fell 2.1%, in their fourth consecutive session of decline, as Foxconn’s factory in the Chinese city of Zhengzhou collapsed. Apple, which supplies the iPhone, continues to experience manufacturing problems. from the application of the lockdown measures to contain the COVID-19 and the protests of the employees against the quarantine and the living conditions in the factory.

Counterpoint Research says customers who bought an iPhone 14 Pro in the US this year may have to wait up to 37 days to receive their order. which is significantly longer than the iPhone 13 Pro family, while Bloomberg news agency reported citing a source that the Foxconn strike could result in a drop in iPhone Pro production to 6 million units this year.

Shares of Amazon fell 1.63%, while other tech stocks also fell. Invidia shares fell 1.19%, Alphabet shares fell 0.9% and Tesla shares fell 1.14%.

However, energy stocks rose in tandem with WTI oil prices, buoyed by expectations that the Chinese government could ease COVID-19 restrictions. Exxon Mobil shares rose 0.66%, Chevron 1.53% and Halliburton 3.50%.

Shares of Chinese companies listed on the US stock market rose. China’s Securities and Exchange Commission has lifted its ban on real estate companies offering shares for capital raising. It aims to raise cash in the real estate sector, with Alibaba Group Holdings, Pinduoduo and JD.com all gaining more than 5%.

The Conference Board’s consumer sentiment index fell to 100.2 in November, the second consecutive drop, according to economic data released last night. Including worries about a recession.

Investors will be keeping an eye on the US nonfarm payrolls release on Friday. While analysts had expected jobs to rise by just 200,000 in November. after adding 261,000 jobs in October And the November unemployment rate is expected to hold at 3.7%.


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