2023-08-21 23:48:43
Editor’s Picks, Stock News6:42pm2023-08-22
The Dow Jones New York Stock Exchange closed slightly lower on Monday (Aug. 21) while the Nasdaq soared more than 200 points, supported by buying in Nvidia, the top US chipmaker. Before the company releases results on Wednesday. As investors keep an eye on the Federal Reserve’s annual meeting in Jackson Hole this week.
The Dow Jones Industrial Average closed at 34,463.69 points, down 36.97 points or -0.11%, the S&P 500 closed at 4,399.77 points, up 30.06 points or +0.69%, and the Nasdaq Index closed at 13,497.59 points, up 206.81 points or +1.56%.
The Dow Jones closed the market weaker. After the 10-year US Treasury yield rose to 4.34%, the highest level in 16 years or since 2007, as investors worried that the Fed would hold interest rates higher than expected to stem inflation. This will affect businesses and consumers.
The Nasdaq and S&P 500 closed in positive territory, led by a 8.47 percent gain in India stocks to close at $469.67 following HSBC analysts said a rally in technology and chipmaker stocks, however. Raised price target for India stock to $780.
Investors expect Nvidia’s fiscal 2024 second-quarter results, due to be released on Wednesday, will be stronger than analysts had expected. by since the beginning of this year Shares of Nvidia have soared 220%, buoyed by optimism that Nvidia will benefit as more companies increase spending on artificial intelligence (AI) chips.
On May 15, the past India revealed that Earnings per share in Feb-April First-quarter fiscal 2024 earnings were $1.09, above analysts’ expectations of $0.92, and revenue of $7.19 billion. That was above analysts’ expectations of $6.52 billion.
Investors will be watching Federal Reserve Chairman Jerome Powell’s speech at the Fed’s annual meeting in Jackson Hole, Wyoming, on Friday, Aug. 25, to assess interest rate trends. of the Fed The conference in Jackson Hole will run from Aug. 24 to Aug. 26 under the theme “Structural Shifts in the Global Economy.”
By InfoQuest News Agency (22 Aug. 23)
Tags: dowjones, Dow Jones, Stock Market, New York Stock Exchange
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