Photo = REUTERS
Major indices were mixed in the New York Stock Exchange, but the Dow rebounded at an all-time high. The atmosphere is taking a break from the recent rising rally.
On the 10th (local time) on the New York Stock Exchange (NYSE), the Dow Jones 30 Industrial Average rose 61.97 points (0.2%) from the battlefield to 31,437.80. The Standard & Poor’s (S&P) 500 index fell 1.35 points (0.03%) from the battlefield to 3,909.88, while the technology stocks Nasdaq index fell 35.16 points (0.25%) to 13,972.53.
The mayor paid attention to Jerome Powell’s speech, the Fed Chairman’s speech, the performance of companies, and the price index.
Chairman Powell reaffirmed his previous position, saying, “We will continue to maintain ultra-low interest rates until we achieve full employment.” “I will not withdraw from the Fed’s support until the pandemic crisis is overcome,” he said. “It is not time to think about shrinking the balance sheet yet.” He mentioned that’patient and relaxed monetary policy stance’ is important for economic recovery. However, it is not different from the previous position, and no new opinions have emerged. The market also said, “There was nothing surprising in Powell’s remarks.”
Companies reported their performance better than the market expected. Twitter, Rift, and Coca-Cola are representative. Twitter said in January that the number of users increased more than the average over the past four years, and the stock price soared 13%. “We are considering investing in Bitcoin,” said Ned Segal, Twitter’s Chief Financial Officer. Lift share price also rose 4.8%.
On the other hand, Tesla plunged 5.26% and shares of major companies such as Amazon (-0.56%), Microsoft (-0.39%) and Apple (-0.46%) fell. As a result, the Nasdaq and S&P 500 indexes were also weak.
The inflation rate in the US has been stable. The Ministry of Labor announced that the consumer price index (CPI) for January rose 0.3% from the previous month. It fell in line with the 0.3% rise in expert forecasts compiled by The Wall Street Journal. The January CPI rose 1.4% year-on-year, lower than the market forecast (1.5%). The source CPI remained unchanged in January at 0% compared to the previous month. Concerns about inflation raised by some of the markets have subsided.
The volatility index (VIX) on the Chicago Options Exchange (CBOE), also called the fear index, rose 1.66% to 21.99 on the previous trading day.
Hankyung.com reporter Kim Hana [email protected]
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