US stocks suffered a fall Monday on Tuesday, with investors drowning in a heap of business results as earnings season began to flourish.
What are the key indicators doing?
Dow Jones industrial average
decreased by 146.32 points, or 0.4%, to 33,931.31.
down 10.29 points, or 0.3%, down to 4,152.97.
down 28.09 points, or 0.2%, down to trading at 13,886.68.
Stocks suffered modest losses on Monday, with the Dow down 123.04 points, or 0.4%, while the S&P 500 fell 0.5% as both indices retreated from their close. record closing was announced on Friday. Nasdaq Composite fell 1%.
What drives the market?
The earnings report, which had a strong start to the quarter, will remain under scrutiny as investors gauge the strength of the economic recovery from the COVID-19 pandemic, analysts said. analysts said. Companies’ guidance on prospects for the coming year could be even more important in determining the direction of the market.
“The company’s outlook could indicate whether upside momentum from last year’s lows can continue,” said Charalambos Pissouros, senior market analyst at JFD Group.
“In our opinion, with most major central banks assuming any spike in inflation this year could be temporary and pledge to keep their monetary policy. They are more lax, we believe that even if earnings are a bit disappointing, there is a good chance for stocks to bounce back and continue north, ”he said.
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A rise in new COVID-19 cases even as the vaccine rollout continues to be thought to affect psychology, analysts said. The US has recorded an average of 67,175 new cases every day for the past week, 4% increase compared to the average two weeks ago. However, the number of new cases globally almost hits a record of more than 750,000 on Sunday and Monday, according to the Washington Post, as India and Brazil are still hot spots.
Fiona Cincotta, senior financial market analyst at City Index, said: “Concerns are growing that the spread of the currency outside of the US could hinder the global economic recovery and lead to it. guidelines of American companies – especially multinational companies ”.
Which companies to focus on?
expected Tuesday will deliver Annual updates for the premium iPad, along with other new products, and showcasing the option to subscribe to your podcast at events in New York. Apple shares rose 0.1%.
Shares of International trading machines Corp.
gained 4% after the tech giant topped Wall Street estimates with unexpected increases in revenue, Record four-quarters of the sales decline.
United Airlines Holdings Inc.
lost more than $ 1.3 billion in the first three months of 2021But executives say the revised cash-flow index has turned positive and promised that new international routes to vaccinated-enabled countries will help the airline recover from its demise. outbreak of the COVID-19 pandemic. Shares fell more than 7%.
Johnson & Johnson
onTuesday reports first quarter earnings and sales that top expectation, on the grounds of strength in the pharmaceutical business and continued recovery in the medical device sector. Shares rose 1.4%.
Shares of Abbott Laboratory
fell 4%, even though the company delivered results beat income expectations in a quarter where its COVID-19 test sales accounted for 20% of total sales.
Shares of Procter & Gamble Co.
It fell 0.4 percent after the consumer staple reported its fiscal third-quarter earnings beat estimates and said they would raise prices for certain product categories.
Shares of South Kansas City
are planning to acquire railway operator for about 30 billion dollars, this figure will be highest Canada Pacific Railway Ltd.’s
have agreed to previously on the acquisition bid.
Shares of Philip Morris International Inc. AFTERNOON up 0.6% after tobacco sellers reported first quarter profits and sales beat expectationsgrowth in hot-dried tobacco shipments helped offset the drop in cigarette shipments.
What are other markets doing?
The yield on a 10-year Treasury note
fell 0.5 basis points to 1.589% in the bond market remain in merge mode Following a recent short-term rebound saw yields retreat from their 14-month highs. Yields and bond prices move in opposite directions.
ICE US Dollar Index
The monetary measure against a basket of six major players, unchanged.
up 0.3% at $ 63.63 / barrel.
Gold futures contract
Delete the original weakness to push higher, up 0.4% to $ 1,777 / ounce.
In Europe, Stoxx 600
and FTSE 100 of London
are down 1.5%.
In Asia, Hong Kong’s Hang Seng Index
0.1% increase, while the Shanghai Composite
down 0.1% and Japan’s Nikkei 225