The Dow Jones Industrial Average fell lower after opening higher on Tuesday as key indicators retreated in the wake of a gruesome remark by a Federal Reserve governor.
About an hour before the close, the Dow Jones industrial average was down about 0.6% while the Nasdaq was down 2.1%, which turned negative. The S&P 500 is down 1.1% and the Russell 2000 is down 1.6%. At the same time on Monday, the volume was lower and higher on NYSE vs Nasdaq.
Investors have weighed in on Hawke’s remarks by Federal Reserve Governor Lyle Brainard, who said policymakers were prepared to be aggressive with balance-sheet cuts to help control inflation. “I think we can all agree that inflation is very high and that reducing inflation is the most important thing,” Brainard told a Minneapolis Fed conference.
Meanwhile, the service index of the Institute for Supply Management for March came in at 58.3, in line with the forecast. This is an improvement from the previous month’s 56.5 on the index, which surveys more than 375 service providers in 16 industries.
US Stock Market Today Overview
|Indicator||Symbol||Price||Profit loss||% Change|
|S&P 500||(0S & P5)||4533.45||-49.19||-1.07|
Last updated: 3:10 PM ET 4/5/2022
Dow Jones today
Among the Dow Jones leaders, Boeing (BA) and Salesforce.com (CRM) dragged on with a loss of over 4%.
On the contrary, Johnson & Johnson (JNJ) rose 1% and traded within the buy zone from the 173.72 double-bottom base. United Health Group (UNH) led the way with a gain of about 2%. Shares traded up from the 501.03 double bottom to the upper edge of the buy zone
The indices rose significantly from their lows in early March, when the new uptrend began. Last week, the indicators returned to digest strong gains. This week, it seems that work is going on bypassing the index.
The Nasdaq is below resistance at its 200-day line, while the Dow Jones and S&P 500 are both above this level.
Meanwhile, the benchmark 10-year Treasury note yield rose more than 5 basis points to 2.55%. After trading flat, West Texas Intermediate crude oil prices continued to trade near $ 101 per barrel after rising about 1.5% on Tuesday. The product rose 4% to $ 103 on Monday.
The S&P 500 sector has mixed transactions. On the downside, consumer discretionary and technology stocks have lost 1.5% or more. Utilities, real estate and healthcare – all defense sectors – led the way with gains of more than 1%.
Growth stocks innovator IBD 50 ETF (FFTY), a benchmark for growth stocks, showing a loss of about 3.3% on Tuesday. After finally recovering this territory in mid-March, the indicator was again testing support at the 50-day line.
Twitter stock pops up on Elon Musk News
Twitter (TWTR) The social media company said after the previous profit reached 2% in the afternoon transaction. Tesla (TSLA) CEO Elon Musk will join its board of directors. Mask bought a 9.2% stake in Twitter after the news broke on Monday.
Twitter shares rose more than 27% in a very heavy volume on Monday, almost recovering the 200-day line for the first time since October 22. This is the biggest single profit in the history of the company. As TWTR briefly recovered this area of support on Tuesday, the stock finally fell below it in the afternoon trade.
Meanwhile, Tesla stock is down 2.3% as it operates on a cup basis with 1,208.10 by points.