Skip to content
Biography-Profile

Biography-Profile

Snap Into A Slim Business

Primary Menu
  • Insurance Regulatory
  • Insurance Journal
  • Insurance Insider
  • Business News
  • Yahoo Finance
  • About Us
    • Advertise Here
    • Contact Us
    • Privacy Policy
    • Sitemap
  • Home
  • Stocks dip as Wall Street struggles to sustain momentum
Stocks dip as Wall Street struggles to sustain momentum
  • Yahoo Finance

Stocks dip as Wall Street struggles to sustain momentum

By Fix bad Credit 2 months ago

U.S. stocks fell early Tuesday after a bounce last week snapped the longest losing streak for the S&P 500 in over 20 years.

The benchmark fell 0.8% following its best week since November 2020, and the Dow Jones Industrial tumbled 380 points, or 1.2%. The Nasdaq Composite declined 0.6%. The moves come after all three indexes logged weekly gains of more than 6%, clawing back from seven consecutive losing weeks for the S&P 500 and Nasdaq and eight weeks of losses for the Dow.

Meanwhile, oil futures charged higher amid reports Chinese authorities were poised to end a two-month COVID-19 lockdown in Shanghai and an agreement by EU leaders to stop purchases of crude oil and petroleum products from Russia. WTI crude oil futures climbed 3.6% to $118.70, while Brent crude oil futures rose 3.7% to $123.83.

Shares of movie theater giant AMC (AMC) jumped 10% in early trading following the debut of TOP GUN during Memorial Day weekend. U.S. theaters saw an estimated 122% year-over-year increase from last year’s holiday weekend, AMC said in a statement Tuesday, underscoring positive signs of a post-COVID recovery for the industry. The pre-market moves place AMC shares on pace for a fourth straight day of gains after the stock surged nearly 40% in the past three sessions.

Wall Street’s latest rally comes on the heels of a favorable batch of quarterly earnings in recent trading sessions which helped temporarily mitigate concerns over the toll of inflation on corporate profits. Signs from recent economic data that prices were peaking also helped buoy sentiment.

Still, stocks are sharply down for the year, and some strategists have been skeptical about whether a bottom has been established.

“Last week’s strength will prove to be another bear market rally in the end,” Morgan Stanley CIO Michael Wilson said in a note to clients.

Despite recovering some losses, stocks have had a volatile month, wrought by concerns over decades-high inflation and fears the Federal Reserve’s efforts to rein in surging prices by raising interest rates may tip the economy into a recession.

“The primary rationale ascribed to this particular rally beyond just an oversold bounce is that the Fed may be contemplating a pause in September,” Wilson wrote, adding that “inflation remains too high for the Fed’s liking and so whatever pivot investors might be hoping for will be too immaterial to change the downtrend in equity prices.”

This week, investors are expected to take their cue from a flurry of key employment data, including the all-important May jobs report due out Friday.

Earnings season has wound down, but more reports from companies including Salesforce.com (CRM), GameStop (GME) Chewy (CHWY), and HP (HPQ) remain in the queue through Friday.

—

9:30 a.m. ET: Stocks slip as Wall Street struggles to sustain momentum

Here’s where the major indexes traded at the start of Tuesday’s session:

  • S&P 500 (^GSPC): -14.99 (-0.36%) to 4,143.25

  • Dow (^DJI): -205.49 (-0.62%) to 33,007.47

  • Nasdaq (^IXIC): +390.43 (+3.33%) to 12,131.13

  • Crude (CL=F): +$3.85 (+3.35%) to $118.92 a barrel

  • Gold (GC=F): -$3.00 (-0.16%) to $1,854.30 per ounce

  • 10-year Treasury (^TNX): +9.9 bps to yield 2.8420%

—

7:14 a.m. ET: Futures slip after recovery rally caps weeks-long losing streak for stocks

Here were the main moves in early trading Tuesday to start the holiday-shortened week:

  • S&P 500 futures (ES=F): -15.05 (-0.36%) to 4,140.75

  • Dow futures (YM=F): -130.00 (-0.39%) to 33,028.00

  • Nasdaq futures (NQ=F): -3.00 (-0.02%) to 12,674.75

  • Crude (CL=F): +$3.63 (+3.15%) to $118.70

  • Gold (GC=F): -$5.60 (-0.03%) to $1,851.70 per ounce

  • 10-year Treasury (^TNX): -1.3 bps to yield 2.7430%

A person walks through the Wall Street subway station near the New York Stock Exchange (NYSE) in New York on May 27, 2022. (Photo by Angela Weiss / AFP) (Photo by ANGELA WEISS/AFP via Getty Images)

A person walks through the Wall Street subway station near the New York Stock Exchange (NYSE) in New York on May 27, 2022. (Photo by Angela Weiss / AFP) (Photo by ANGELA WEISS/AFP via Getty Images)

—

Alexandra Semenova is a reporter for Yahoo Finance. Follow her on Twitter @alexandraandnyc

Read the latest financial and business news from Yahoo Finance

Follow Yahoo Finance on Twitter, Instagram, YouTube, Facebook, Flipboard, and LinkedIn

Tags: "Succeeded His Business", 2 Of Cups Business, 525 Business 5 Bankruptcies, Accounting Business Letter To Client, Bracken Business Communications Clinic, Business Account No Deposit, Business Administration Fafsa, Business Balance Sheet Explained, Business Card, Business Card Printing La Plata, Business Card To Secret Website, Business Cards Media Bar, Business Central Png, Business Coaching Site Cloudfront, Business Contract Lawyer 47201, Business Marketing Pearson Quizlet, Business Milleage Leager 18, Business Mobile Broadand Plans, Business Plan For Supplement Company, Business Plan Loan Originayor, Disrupting Digital Business Harvard, Ffiec Business Continuity Templates, Gauge Ear Piercing Business, Good Openings For Business Letters, Holton Investment Business, Indiana Wesleyan University Business, Indianapolis Business Times, List Business In Search Engines, List My Business Yahoo, Lunch Susbcription Business Model, Morgan Hill Business Liocense Renewal, Nee Small Business Bill Signed, Negotiating Business Acquisitions Practical Law, Networking Trends Small Business, New Business In Shorewood Il, School Business Officer Being Unethical, Small Business Administration Mass, Small Business Comunity, Small Business Corporation South Africa, Small Business Depew Llc, Small Business Medical Offices Chicago, Small Business Office Lakewood Nj, Small Business Plans Verizon, Small Business Storage Array, Small Business Sucess Stories, South Florida Business Journal Twitter, Torrington Ct, United Business Tech Response Sla, United Domestic Business Food, Video Business Woman Bukkake, Ways To Improve Business Technologyreddit

Continue Reading

Previous Nvidia’s ‘transformation’ is ‘underappreciated,’ BofA analysts say
Next Talking Biz News Today – June 1, 2022

Recent Posts

  • Need A Enterprise Idea? Right here Are fifty five.
  • Manager Of Tauranga Cycle Retailer Speaks Out After E
  • Opening A Bitcoin Wallet the Anonymous Way!
  • Straightforward Business Concepts To Start In Weeks!
  • How To Create An SEARCH ENGINE MARKETING Technique For 2020 Template Included

Archives

  • August 2022
  • July 2022
  • June 2022
  • May 2022
  • April 2022
  • March 2022
  • February 2022
  • January 2022
  • December 2021
  • November 2021
  • October 2021
  • September 2021
  • August 2021
  • July 2021
  • June 2021
  • May 2021
  • April 2021
  • March 2021
  • February 2021
  • January 2021
  • December 2020
  • November 2020
  • October 2020
  • September 2020
  • July 2020
  • June 2020
  • May 2020
  • April 2020
  • March 2020
  • January 2020
  • November 2019
  • October 2019
  • September 2019
  • August 2019
  • July 2019
  • May 2019
  • April 2019
  • March 2019
  • February 2019
  • January 2019
  • December 2018
  • November 2018
  • October 2018

Categories

  • Advertise
  • Business News
  • Crypto News
  • Insurance Insider
  • Insurance Journal
  • Insurance Regulatory
  • software
  • Yahoo Finance

bayar.ooo

Intellifluence Trusted Blogger

BL

TL

biography-profile.com © All rights reserved. | Magazine 7 by AF themes.