Dow Jones rises in start of week full of corporate earnings; Microsoft pressures Nasdaq

(Image: REUTERS/Andrew Kelly/File Photo)

the index dow jones rose on Monday, as investors geared up for the monetary policy meeting of the Federal Reserve and for the dissemination of results of some of the largest companies in the United States this week, seeking to assess the impact of dollar strong and give inflation high.

Meanwhile, the Nasdaq recorded losses, reflecting a decline in the shares of the Microsoft.

Apple Inc, Inc, Alphabet Inc, Microsoft Corp and Meta Platforms Inc, which together account for $8.9 trillion in market capitalization, or a quarter of the total S&P 500will release their quarterly results this week.

“The really big part of the results season is here. So with confidence recovering now, it could also quickly dissipate if we have disappointments with companies like Google and Microsoft on Tuesday,” said Dennis Dick, retail trader at Triple D Trading.

Stocks of high-growth companies had mixed performance in the first hour of trading.

Microsoft was down 0.5% after the Wells Fargo cut the price target for the company’s shares, citing inflation, interest rate hikes and a stronger dollar as risks to its balance sheet.

A stronger dollar is seen as a hindrance for US companies, especially those with large global operations. The currency index against strong pairs recently hit 20-year highs.

The Fed is expected to make another 0.75 percentage point hike in its interest rate at the end of its two-day policy meeting on Wednesday.

The focus of investors will also be on the institution’s chair’s press conference, Jerome Powellafter the central bank’s decision, looking for clues about the authorities’ thinking about the next rate increases. feesamid fears that aggressive tightening could push the economy into recession.

At 11:48 (GMT), the S&P 500 index was down 0.13% to 3,956.64 points, while the Dow Jones was up 0.22% to 31,971.06 points. The Nasdaq Composite technology index fell 0.58% to 11,765.11 points.

Money Times is Top 10 in Investments!

It is with great pleasure that we share with you, our reader, that the money times was certified as one of the 10 largest Brazilian initiatives in the Digital Universe in Investments. By open voting and a group of experts, the iBest Award will define the top three in the 2022 category. If you rely on our content to take care of your investments and keep you informed, VOTE HERE!

Source: Moneytimes

Share this article:

Leave a Reply

most popular