Sunday, November 28, 2021

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    Nasdaq set a new record, but Dow sees more downsides

    After finishing the previous session on the other side of the unchanged line, the major US stock indexes are turning into another mixed performance on Friday morning trading. The Nasdaq hit a daytime high, but the Dow has fallen three times in a row.

    Currently, Nasdaq is off the day’s highs, but still up 70.18 points or 0.4% to 16,063.90. Meanwhile, the Dow fell 257.92 points (0.7%) at 35,613.03 and the S & P 500 fell 4.76 points (0.1%) at 4,699.78.

    The new Covid-19 concern is focused on circulating stocks as the brutal fourth wave of. coronavirus The pandemic spreads throughout Europe.

    Austria announced a complete national blockade of Covid-19 from Monday, while Germany announced further restrictions on unvaccinated people.

    The possibility of more European countries resurrecting a complete blockade has raised concerns that a pandemic could once again put pressure on the world. Economy..

    On the other hand, Nasdaq, which makes heavy use of high tech, technology Stocks following some bright earnings news.

    Intuit (INTU) stocks have skyrocketed after financial software companies reported better-than-expected first-quarter earnings and raised their full-year earnings forecasts.

    Cybersecurity firm Palo Alto Networks (PANW) also rose after reporting that first-quarter performance exceeded analysts’ expectations.

    Meanwhile, Applied Materials (AMAT) shares are under pressure after semiconductor equipment manufacturers reported their fourth-quarter performance, which provided lower-than-expected and disappointing guidance.

    However, due to the lack of key US economic data, some traders are on the sidelines, leaving some overall trade activity.

    Energy stocks have shown considerable weakness in the morning trading and have fallen sharply with oil prices. Crude oil delivered in December has plummeted from $ 2.41 a barrel to $ 76.56.

    The Philadelphia Oil Services Index is down 4.6%, the NYSE Arca Oil Index is down 3.6%, and the NYSE Arca Natural Gas Index is down 2.2%, reflecting the weaknesses of the energy sector.

    Bank stocks also show significant weaknesses, as reflected in the 2% downturn from the KBW Bank Index. The index fell to the lowest daytime level in more than a month.

    Concerns about the new Covid-19 have also contributed to the significant weakness of airline stock prices, with the NYSE Arca Airline Index down 1.8%.

    Meanwhile, software stocks are on a strong uptrend that day, with the Dow Jones US Software Index rising 1.2%.

    In overseas transactions, stocks market Hong Kong’s Hang Seng Index receded from the uptrend, falling 1.1%, but almost rose on Friday across the Asia-Pacific region. Japan’s Nikkei 225 Index rose 0.5% and China’s Shanghai Composite Index rose 1.1%.

    On that day, major European markets are also on a downtrend. France’s CAC 40 index has fallen 0.6%, while the UK’s FTSE 100 index and Germany’s DAX index have fallen 0.5% and 0.4%, respectively.

    In the bond market, government bonds have risen significantly, expanding the upward trend seen in the last two sessions. After that, the yield on the benchmark 10-year bond, which moves in the opposite direction of the price, drops 6.5 basis points to 1.524%.

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    Nasdaq set a new record, but Dow sees more downsides

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