Connect with us


End of mixed actions, oil prices rise despite the exit of crude |




Wall Street closed a wobbly trading day on Tuesday with a mixed finish for major stock indexes, as gains by banks and energy companies dampened losses elsewhere in the market.

The S&P 500 managed to rise 0.2% after fluctuating between small gains and losses for much of the day. The benchmark index had just suffered two consecutive declines after setting a record last Thursday. The Dow Jones Industrial Average rose 0.5%, while the Nasdaq composite closed down 0.5%.

Over 60% of S&P 500 stocks rose. Banks, energy stocks and housewares companies rose. These gains were tempered by losses in tech and communications stocks, and a mix of companies that rely on consumer spending.

The price of U.S. crude oil rose 2.3% and wholesale gasoline by 3.4% despite the fact that President Joe Biden ordered the release of 50 million barrels of oil from the strategic reserve of nations to help reduce energy costs. This decision was made in concert with other major oil-consuming nations.

Bond yields rose, adding to a general upward movement a day earlier, this helped spur a late afternoon sell-off in major tech and consumer-focused stocks. These stocks have seen their prices skyrocket during the pandemic and may look less attractive when bond yields rise sharply.

We also saw a continuation of the upward movement in the 10-year yield (Treasury) today, but that obviously didn’t seem to hold back the Dow Jones or the S&P 500, said Sam Stovall, chief investment strategist at CFRA. .

The S&P 500 gained 7.76 points to 4,690.70. The Dow Jones gained 194.55 points to 35,813.80. The Nasdaq lost 79.62 points to 15,775.14.

Small business stocks also lost ground. The Russell 2000 Index lost 3.49 points, or 0.1%, to 2,327.86.

Bond yields have increased. The 10-year Treasury yield rose to 1.68% from 1.63% on Monday night. It helped send the banks higher. JPMorgan Chase rose 2.4%.

Oil and gas companies made solid gains from rising energy prices. Devon Energy rose 5.6%.

Several travel-related businesses have gained traction as people prepare to travel for the Thanksgiving vacation. Hilton Worldwide grew 1.3 percent and Expedia Group gained 2.7 percent.

Retailers were mixed before the official start of the key holiday shopping season. Discount retailer Dollar Tree jumped 9.2% for the S&P 500’s biggest gain. Starbucks was up 1.9%. Best Buy fell 12.3%, the biggest drop in the S&P 500, as concerns about squeezing margins outweighed strong earnings.

Technology and communications companies have also weighed on the broader market. Adobe fell 1.3% and Intel fell 1.5%.

Zoom Video fell 14.7% per day after the video conferencing company reported that third-quarter revenue growth had slowed.

Stocks are expected to experience more mixed trading this week, with markets closing Thursday for Thanksgiving and then closing early Friday.

In this shortened holiday week, lower volume leads to higher volatility, Stovall said.

Nonetheless, Wall Street will receive some economic data on Wednesday that could give investors a better idea of ​​the pace and extent of the economic recovery. The Ministry of Labor will publish its weekly report on unemployment benefits. The Commerce Department releases data on the third quarter gross domestic product and its new home sales report for October.

Also on Wednesday, the Federal Reserve will release the minutes of its October interest rate meeting, potentially giving investors more details on central banks’ plan to start cutting bond purchases that helped keep low interest rates.

Investors watched to see if the pressure from rising inflation would prompt the Fed to step up its plans to cut bond purchases and increase its benchmark interest rate.

Copyright 2021 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission.




The mention sources can contact us to remove/changing this article

What Are The Main Benefits Of Comparing Car Insurance Quotes Online

LOS ANGELES, CA / ACCESSWIRE / June 24, 2020, / Compare-autoinsurance.Org has launched a new blog post that presents the main benefits of comparing multiple car insurance quotes. For more info and free online quotes, please visit https://compare-autoinsurance.Org/the-advantages-of-comparing-prices-with-car-insurance-quotes-online/ The modern society has numerous technological advantages. One important advantage is the speed at which information is sent and received. With the help of the internet, the shopping habits of many persons have drastically changed. The car insurance industry hasn't remained untouched by these changes. On the internet, drivers can compare insurance prices and find out which sellers have the best offers. View photos The advantages of comparing online car insurance quotes are the following: Online quotes can be obtained from anywhere and at any time. Unlike physical insurance agencies, websites don't have a specific schedule and they are available at any time. Drivers that have busy working schedules, can compare quotes from anywhere and at any time, even at midnight. Multiple choices. Almost all insurance providers, no matter if they are well-known brands or just local insurers, have an online presence. Online quotes will allow policyholders the chance to discover multiple insurance companies and check their prices. Drivers are no longer required to get quotes from just a few known insurance companies. Also, local and regional insurers can provide lower insurance rates for the same services. Accurate insurance estimates. Online quotes can only be accurate if the customers provide accurate and real info about their car models and driving history. Lying about past driving incidents can make the price estimates to be lower, but when dealing with an insurance company lying to them is useless. Usually, insurance companies will do research about a potential customer before granting him coverage. Online quotes can be sorted easily. Although drivers are recommended to not choose a policy just based on its price, drivers can easily sort quotes by insurance price. Using brokerage websites will allow drivers to get quotes from multiple insurers, thus making the comparison faster and easier. For additional info, money-saving tips, and free car insurance quotes, visit https://compare-autoinsurance.Org/ Compare-autoinsurance.Org is an online provider of life, home, health, and auto insurance quotes. This website is unique because it does not simply stick to one kind of insurance provider, but brings the clients the best deals from many different online insurance carriers. In this way, clients have access to offers from multiple carriers all in one place: this website. On this site, customers have access to quotes for insurance plans from various agencies, such as local or nationwide agencies, brand names insurance companies, etc. "Online quotes can easily help drivers obtain better car insurance deals. All they have to do is to complete an online form with accurate and real info, then compare prices", said Russell Rabichev, Marketing Director of Internet Marketing Company. CONTACT: Company Name: Internet Marketing CompanyPerson for contact Name: Gurgu CPhone Number: (818) 359-3898Email: [email protected]: https://compare-autoinsurance.Org/ SOURCE: Compare-autoinsurance.Org View source version on accesswire.Com:https://www.Accesswire.Com/595055/What-Are-The-Main-Benefits-Of-Comparing-Car-Insurance-Quotes-Online View photos


to request, modification Contact us at Here or [email protected]