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After the marked rise in global stock markets at the end of last week, the leading indices on Wall Street continued in the same direction from opening on Monday. At around eight o’clock, on the other hand, the three leading indices turned upside down. This is how the stock market day ended.
- The broad S&P 500 index fell 0.78 percent.
- The industry-heavy Dow Jones index fell 0.61 percent.
- The Nasdaq technology index fell 0.81 percent.
The S&P 500 index started the trading day with an increase of 0.75 percent, while the Dow Jones index rose 0.5 percent. Nasdaq led by rising as much as 1.35 percent.
Last week came the news that inflation in June was 9.1 percent. US inflation is now at its highest level since 1981. In the wake of this news, an interest rate hike from the Federal Reserve of 100 basis points was priced in.
Recent optimism came after Federal Reserve member Waller stated that the US Federal Reserve’s main plan is still to raise interest rates by 75 basis points in July.
All three leading indices rose around one percent at the best on Monday, before turning to decline.
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Stock market rally
There is great excitement among investors for the coming week when a number of companies present their reports for the second quarter.
US investment bank Goldman Sachs posted $ 7.73 earnings per share in the second quarter of 2022, according to the company’s quarterly report on Monday. This exceeded analysts’ expectations of earnings per share of $ 7.25. The stock is up 2.62 percent.
Another company that presents its quarterly figures this week is the streaming service Netflix. The share has fallen almost 70 percent on the stock exchange so far this year after the company in the previous quarter announced a fall in subscribers for the first time. The company announced on Wednesday last week that they will initiate a collaboration with the technology giant Microsoft. The collaboration is linked to an advertising support subscription that Netflix will roll out later this year. The stock is up 4.87 percent. (Terms)Copyright Dagens Næringsliv AS and / or our suppliers. We would like you to share our cases using a link, which leads directly to our pages. Copying or other use of all or part of the content may only take place with written permission or as permitted by law. For additional terms se her.
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