Trading Concept
  • Home
  • Trading News
  • Email Whitelisting
  • Privacy Policy
  • Home
  • Trading News
  • Email Whitelisting
  • Privacy Policy
No Result
View All Result
Trading Concept
No Result
View All Result
Home Trading News

Nasdaq rebounds after inflation-driven sell-off, Disney weighs on the Dow

by
November 11, 2021
in Trading News
0
0
SHARES
0
VIEWS
Share on FacebookShare on Twitter

RELATED POSTS

Freddie Mac House Price Index Increased in August to New High; Up 4.0% Year-over-year

Monday: ISM Manufacturing, Construction Spending

The Nasdaq Composite rebounded Thursday after hot inflation data and surging bond yields sparked a sell-off in technology stocks in the previous session.

The tech-heavy Nasdaq gained 0.5% to close at 15,704.28. The S&P 500 closed marginally higher at 4,649.27. The Dow Jones Industrial Average shed 158.71 points, or 0.4%, to 35,921.23 — pulled down by Disney‘s 7% drop.

“We’re going to have this push and pull where we get these headline numbers that shock the markets a bit, like with inflation yesterday,” BMO Wealth Management chief investment strategist Yung-Yu Ma said.

Some tech names rose Thursday after October’s consumer price index reading pushed up bond yields Wednesday. The spike in rates pressured growth pockets of the equity market.

Nvidia climbed 3.2%, and AMD added 4.4%.

Loading chart…

Shares of commodity producers in the S&P 500 gained as investors bet on sustained inflation. The Materials Select Sector SPDR Fund hit a fresh intraday all-time high. Mining company Freeport-McMoRan ran up 9% and steel producer Nucor rose 2.7%.

On the downside, Disney shares fell after the media giant missed on the top and bottom lines of its quarterly results. Disney+ subscribers also came in short of estimates.

The bond market was closed Thursday for Veterans Day.

Wednesday’s inflation report showed the consumer price index, which tracks a basket of products ranging from gasoline and health care to groceries and rents, rose 6.2% in October from a year ago, hitting its highest level in three decades.

“Inflation remains stubbornly high, to the surprise of many that expected prices to come back to earth sooner,” LPL Financial chief market strategist Ryan Detrick said. “The truth is you can’t shut down a $20 trillion economy and not feel some bumps as it restarts, but we are hopeful the supply chain issues will resolve over the coming quarters and inflation should calm down as well.”

Following the CPI data, traders moved up their expectations for when the first Fed rate hike would occur. The Fed funds futures market now sees greater odds of the central bank’s first full rate hike coming in July 2022.

ShareTweetPin

Related Posts

Freddie Mac House Price Index Increased in August to New High; Up 4.0% Year-over-year

by
October 2, 2023
0

by Calculated Risk on 10/01/2023 10:11:00 AM Today, in the Calculated Risk Real Estate Newsletter: Freddie Mac House Price Index...

Monday: ISM Manufacturing, Construction Spending

by
October 2, 2023
0

by Calculated Risk on 10/01/2023 07:06:00 PM Weekend: o Schedule for Week of October 1, 2023 Monday: o At 10:00...

These 5 Stocks Are Setting Up This Buying Opportunity After Strong Runs

by
October 1, 2023
0

Post Content

7 Stock Picks You Might Not Have Heard About. Why They’re ‘Best-of-Breed Bisons.’

by
October 1, 2023
0

Here are 7 Stock Picks You Might Not Have Heard About. Why They’re Best-of-Breed Bisons. | Barron's D.A. Davidson, a...

Best China Stocks: These Two Are Flashing Buy Signals Now

by
October 1, 2023
0

Post Content

Next Post

Virginia pharmacy incorrectly administers Covid vaccine to 112 kids, officials pull remaining doses

Stock futures rise slightly as Wall Street looks to avoid losing week amid high inflation

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

email

Get the daily email about stock.

Please Enter Your Email Address:



By opting in you agree to our Privacy Policy. You also agree to receive emails from us and our affiliates. Remember that you can opt-out any time, we hate spam too!

MOST VIEWED

  • WHO says Covid vaccine booster programs will prolong pandemic

    0 shares
    Share 0 Tweet 0
  • Forget Tesla — this auto stock is the one to buy right now, analyst says

    0 shares
    Share 0 Tweet 0
  • Spin or Split? AT&T Has a Big Decision to Make on Discovery Stake.

    0 shares
    Share 0 Tweet 0
  • Here’s how Carl Icahn is positioning for a possible recession in America

    0 shares
    Share 0 Tweet 0
  • Some lawmakers and their families are betting thousands of dollars on crypto

    0 shares
    Share 0 Tweet 0
  • Home
  • Trading News
  • Email Whitelisting
  • Privacy Policy
All rights reserved by tradingconcept.net
No Result
View All Result
  • Email Whitelisting
  • Home
  • Privacy Policy

All rights reserved by www.tradingconcept.net