Oil prices continue to fall: Wall Street is on the water

Oil prices continue to fall
Wall Street is treading water

Investors in US stock markets continue to ignore any comment from a Fed member for clues about the next rate hike. But the most recent sentences are not leading. And so the indices are treading water or going back slightly.

The US stock markets continued their downward movement and closed again at a discount. For days, the focus was on US interest rate policy. Of the Dow Jones index closed almost unchanged at 33,547 points. Of the S&P 500 recorded 0.3 percent lower. For the Nasdaq composite also fell by 0.3 percent.

S&P 500 3,946.73

After hopes that the US Federal Reserve would take a more dovish stance on impending rate hikes recently drove markets, statements from Fed members have now caused some disillusionment. They favor higher interest rates than previously expected by the market. Traders also pointed out that better-than-expected US retail sales data the day before had sparked new inflation concerns, with fears that the US Federal Reserve might hike rates again decisively.

In terms of economics, the Philadelphia Fed Index for November was significantly worse than expected. Weekly initial claims for U.S. unemployment benefits are down. Residential construction starts fell slightly more than expected in October, while the fall in building permits was less pronounced than expected.

Oil prices continue to fall

The foreign exchange market recovered dollars some of the recent donations. The dollar index rose 0.4 percent. The dollar’s rally this year is likely to reverse in 2023 when the Federal Reserve’s cycle of rate hikes comes to an end, analysts at HSBC said. Some of the dollar’s safe haven appeal may wane if the Federal Reserve pauses in tightening monetary policy. However, global growth will remain weak for some time, US interest rates are attractive and vulnerabilities in other countries remain high.

the oil prices showed up again with significant deductions. Brent oil was down 3.3 percent and WTI was down 4.2 percent. Concerns about demand from China continue to weigh on prices, according to Peak Trading Research. Other participants pointed to concerns about the recession.

At the bond market US interest rates moved back up after the sharp fall the previous day. Volatility is likely to remain high as investors try to anticipate how far Fed interest rates will rise and at what rate, one observer said.

Two retailer stocks were looking for good summer numbers

The provider of network equipment Cisco systems increased sales more than expected in the first quarter of 2022/23. The outlook for the full year has been raised. The stock gained 5.0 percent. The titles of Nvidia down 1.5 percent. Although the graphics processor developer missed the market’s earnings expectations in the third quarter, it outperformed in terms of revenue.

Bath and body works made a price jump of 24.4 percent upwards. The retailer raised its full-year earnings outlook following the release of its third-quarter results. sound increased by 3.0 percent. The speaker manufacturer reported a slowdown in sales, but it was less dramatic than feared. The shares of Macy’s a 15.0 percent increase after the department store chain beat consensus estimates for the third quarter and raised full-year profit expectations.

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