New York Stock Market, Technology Stock Performance and FOMC, Slight Fall

Input 2021.01.27 07:03 | Revision 2021.01.27 07:12

In the US New York Stock Exchange, major indexes ended slightly lower on the 26th (local time) while watching the results of large technology stocks and the results of the Federal Open Markets Committee (FOMC) meeting.

On the New York Stock Exchange (NYSE), the Dow Jones 30 Industrial Average closed at 3937.04, down 22.96 points (0.07%) from the previous day. , The NASDAQ index, which is centered on technology stocks, fell 9.93 points (0.07%) and ended at 10,3626.06.

The stock market showed fluctuations in the stock market ahead of the announcement of the performance of large technology stocks, and then closed the deal at the weak bond market.

On this day, many companies announced their earnings, which influenced the stock price fluctuations. 3M, General Electric (GE) and Johnson & Johnson (J&J), which exceeded expectations, rose to the 2~3% range. On the other hand, American Express, whose net profit fell 15% in the fourth quarter, fell 4%, and Verizon’s stock price fell by more than 3%.

However, according to the financial information company Refinitiv, 86.9% of the 84 companies that disclosed their results by the morning of the day were analyzed to exceed analyst expectations. After the market closes, Microsoft, Starbucks, and Texas Instruments will announce their results. On the 27th, major technology stocks such as Apple, Tesla, and Facebook are expected to announce their earnings.

Investors’ eyes are drawing on Jerome Powell’s chairman of the Federal Reserve System (Fed) as the first Federal Open Markets Committee (FOMC) meeting this year is being held from that day. On the 14th, Fed Chairman Powell said, “The timing of an interest rate hike is not very imminent, and employment and inflation (inflation) are far from the target, and now is not the time to talk about an exit strategy.”

The stock price of’Game Stop’, an online game company that American individual investors are enthusiastic about, soared 92.7% this day. Analysts analyzed that there is a’short squeeze’ phenomenon in which the short selling forces that bet on the decline in the stock price of GameStop added to the buy.

The US economic indicators were mixed. According to S&P Core Logic Case-Sealer, the US housing price index in November of last year rose 9.5% compared to the previous year. The price increase rate is the highest since February 2014.

The consumer confidence index for January rose from 87.1 in the previous month to 89.3. It exceeded the expert’s estimate of 88.0.

On the other hand, the January manufacturing index for the Richmond Federal Reserve in January fell from 19 last month to 14, below the market forecast of 17.