Nasdaq returns upwards, but Dow gives background

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After ending the previous session on the other side of the unchanged line, the major US stock index is turning into another mixed performance on Thursday morning trading. While the Dow was retreating, tech-heavy Nasdaq rebounded after closing Wednesday’s trading slightly lower.

Currently, Nasdaq is up 59.06 points or 0.4% to 15,180.74. The S & P 500 also joined Nasdaq in the positive territory, rising 1.02 points (less than a tenth percent) to 4,537.21 and the Dow down 84.33 points (0.2%) to 35,525.01.

The Dow’s modest withdrawal will occur after the Best Equity Index hits a daytime high during a trading session on Wednesday.

The stock price of IBM Corp. (IBM) has plummeted and weighs heavily on the Dow. Technology giants have fallen 7.1% after reporting weaker earnings than expected in the third quarter.

Meanwhile, Tesla’s (TSLA) share has risen significantly after electric vehicle makers reported better-than-expected results in the third quarter.

AT & T (T) is also on the rise after telecommunications giants reported third-quarter results, surpassing estimates on both the top and bottom lines.

Traders are also digesting the latest batch of U.S. economic data, including reports from the Ministry of Labor that their first claims for U.S. unemployment allowance fell unexpectedly in the week ending October 16. ..

The Ministry of Labor said the first unemployment claims fell to 290,000, down 6,000 from last week’s revised level of 296,000.

The slight decline surprised economists who were expecting unemployed claims from 293,000 to 300,000, which were first reported last week.

Due to an unexpected drop, unemployed billing has fallen to its lowest level again since it reached 256,000 in the week ending March 14, 2020.

The US Open also released a report in September showing that existing home sales far exceeded expectations.

According to the NAR, existing home sales fell 2.0% to 5.88 million in August and then increased 7.0% to 6.29 million annually in September. Economists expected existing home sales to grow 3.6% to a percentage of 6.09 million.

Existing home sales reached the highest annual rate since January, but still fell 2.3 percent compared to the same month last year.

Reflects poor performance by a wider audience marketMost of the major sectors have shown modest movements on the day.

Steel stocks are showing a significant downtrend, but the NYSE Arca Steel Index is down 2.6%.

Oil services and natural gas inventories are also on the decline that day, showing strength between computer hardware and transportation inventories.

In overseas trading, the stock market in the Asia-Pacific region fluctuated in the trading on Thursday. Japan’s Nikkei 225 Index fell 1.9%, while China’s Shanghai Composite Index rose 0.2%.

Meanwhile, all major European markets have moved down that day. The UK’s FTSE 100 index has fallen 0.3%, while the French CAC 40 index and the German DAX index have both fallen 0.1%.

In the bond market, government bonds have been under pressure since the last session ended almost flat. As a result, the yield on benchmark 10-year bonds, which move in the opposite direction of the price, rises 3.5 basis points to 1.671%.

Contact for comments and feedback: editorial@rttnews.com

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Nasdaq returns upwards, but Dow gives background

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The post Nasdaq returns upwards, but Dow gives background appeared first on Eminetra.

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