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Dow loses ground above 36,000, but large-cap tech stocks outperform as yields fall

US stocks traded modestly lower on Wednesday, a day after a positive session on Wall Street, thanks in part to strong October retail sales data that put the major indexes within a significant gap. Notice the new record.

Persistent concerns about inflation and an economic recovery from COVID-19 have kept markets in check from a more pronounced rise in value, but a lack of alternatives and hope that consumers Users can continue to act as a pillar of the economic recovery that is supporting profitability and rotation into sectors of the market.

How to trade stock index futures?
  • Dow Jones Industrial Average
    DJIA,
    -0.36%

    traded around 64 points, or 0.2%, lower at 36,077.

  • S&P 500
    SPX,
    -0.04%

    was traded at 4,691, down 9 points, or 0.2%.

  • Nasdaq Composite Index
    COMP,
    + 0.05%

    fell 14 points, or 0.1% less, to 15,959.

Above Tuesday, the Dow rose 54 points, or 0.2%, to close at 36,142. The S&P 500 rose 18 points, or 0.4%, to 4,700 and the Nasdaq Composite added 120.01 points, or 0.8%, to end at 15,973.

What does the market drive?

Investors may be reluctant to push stocks to new highs on Wednesday after the Nasdaq Composite and S&P 500 ended yesterday’s session in all-time highs and the Dow hovered just above 1%. than the closing record.

Market participants were encouraged by better-than-expected October retail sales data and a flurry of third-quarter corporate earnings. Data shows retail sales up 1.7%, in addition to forecasts for a 1.5% increase and the biggest gain since March as households received billions of dollars in federal stimulus money.

Shares of rival Walmart Target
TGT,
-5.02%

Wednesday’s drop, even if the retailer beat quarterly earnings forecasts and raise forecasts, but warned about rising costs affecting profits.

Lowe’s shares
SHORT,
+ 0.99%

Strong increase on Wednesday, after home improvement retailer financial 3rd quarter profit and revenue report Beating expectations, same-store sales unexpectedly rose and lifted the company’s full-year outlook.

However, Visa
V,
-5.40%

fell sharply after Amazon
AMZN,
+ 0.98%

indicates it will stop accepting payments made using credit cards issued in the UK starting next year due to high commission costs.

Peter Cardillo, chief market economist at Spartan Capital, said: “While investors haven’t turned away from the stock market, the turnaround in our view is what drives the activity. market inequality,” said Peter Cardillo, chief market economist at Spartan Capital.

Meanwhile, buying enthusiasm may ease somewhat, as investors expect volume to fade in the final week of trading before the Thanksgiving holiday.

Wednesday’s action will feature a packed schedule of appearances by Federal Reserve members, with that list including New York Fed President John Williams, Fed Governor Michelle Bowman, San Francisco President Mary Daly and Fed President Charles Evans.

Oil prices fell as investors awaited inventory data from the Energy Information Administration to be released on Wednesday. Oil was also pressured by concerns about the possibility that both China and the United States could sell their joint oil reserves, following a virtual meeting between President Joe Biden and China’s Xi Jinping.

American Petroleum Institute reported by the end of Tuesday According to sources, US crude oil supplies increased by 655,000 barrels in the week ending Nov. 12. West Texas Intermediate Crude Oil
CL00,
-2.18%

down 0.9% to 80.08 USD/barrel, while Brent crude oil
BRN00,
-1.55%

down 1% to $81.54 per barrel.

How do other assets trade?
  • Yield on 10-year Treasury note
    TMUBMUSD10Y,
    1.619%

    unchanged at 1.64%. Yields and debt prices move in opposite directions.

  • US Dollar Index ICE
    DXY,
    -0.07%
    ,
    The monetary measure against a basket of six major players, is stable.

  • Stoxx Europe 600
    SXXP,
    + 0.14%

    trading 0.2% higher, while London’s FTSE 100
    UKX,
    -0.49%

    down 0.3%.

  • Shanghai Composite
    SHCOMP,
    + 0.44%

    up 0.4%, while the Hang Seng . index
    HSI,
    -0.25%

    down 0.2% and Japan’s Nikkei 225
    NIK,
    -0.40%

    down 0.4%

https://www.marketwatch.com/story/u-s-stock-futures-largely-tread-water-but-nasdaq-poised-for-more-gains-11637152538?rss=1&siteid=rss | Dow loses ground above 36,000, but large-cap tech stocks outperform as yields fall

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