24hoursworld

Wall Street operates unevenly, but closes February with falls

Wall Street operates unevenly, but closes February with falls

The Industrial Average Dow Jones it lost 124.40 points, or 0.4%, to 32,765.37. In the month, the index showed a contraction of 1,336.23 points, 3.9%.

He S&P 500 gains 2.73 points, or 0.07%, to 3,984.51 units. In February it lost 35.82 units, 2.3%.

Five of the top 11 sectors of the S&P 500 were down on Tuesdaywith defensive utilities and consumer staples leading the losses.

He Nasdaq Composite, with a strong technological component, rose 38.41 points, or 0.4%, to 11,505.29 units, supported by Meta Platforms and Applied Materials. In the month, the index lost 78.83 units, 0.7%.

Operators have started assess the possibility of a further rate hike of 50 basis points in MarchAlthough the odds remain low, around 23%, according to Federal Reserve Funds futures, which also suggest rates will peak at 5.41% in September, up from 4.57% today.

BofA Global Research warned that the Federal Reserve could even raise rates to almost 6%.

He two-year treasury yieldwhich follows investor expectations about the path of the cost of credit, rose to 4.82%trading just below the nearly four-month high reached in the previous session.

“We’re talking about stronger inflation in the economy and higher interest rates for longer. Markets continue to think that sometime in the next 12 months there will be rate cuts, and the evidence doesn’t support that,” he said. michael hewsonChief Analyst at CMC Markets.

Source: Ambito

Leave a Reply

Your email address will not be published. Required fields are marked *

Latest Posts