Home Stock US stocks fell when investors were engulfed in profit storm

US stocks fell when investors were engulfed in profit storm

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.

  • S&P 500

    down 10.29 points, or 0.3%, down to 4,152.97.

  • Nasdaq Synthesis

    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.

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“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.

See: Why the rise of COVID-19 cases is keeping Morgan Stanley bullish on risky assets

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?

See: Tobacco stockpiles turned to ash after reports that the Biden administration may require a nicotine cut.

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
    + 0.01%
    The monetary measure against a basket of six major players, unchanged.

  • Oil contract higher, with US benchmarks

    up 0.3% at $ 63.63 / barrel.

  • Gold futures contract
    + 0.33%

    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
    + 0.10%

    0.1% increase, while the Shanghai Composite

    down 0.1% and Japan’s Nikkei 225

    2% discount.



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