After a day with great volatility, Wall Street closed this Monday, June 5, lower due to profit taking, after a solid week ended on Friday, which led to nasdaq to score his sixth consecutive weekly rise, the best streak since the pre-pandemic.
He S&P 500 and the nasdaq remain this Monday, June 5, close to the highs reached in the previous session, while Manzana hits an all-time high and investors were assessing the odds that the Federal Reserve pause on interest rate hikes at your next meeting.
The index Dow Jones it lost 0.6% to 33,562.60 points. While the technological nasdaq remained almost stable with a slight fall of 0.1% to 13,229.43 units, while the S&P 500 it fell 0.2% to 4,273.75 points.
He activity index in the services sector in United States disappointed and set the tone for the day this Monday. It was 50.3%, below expectations and also slightly below April (51.9%).
“The services sector ends up showing signs of weakness (…), which could become more noticeable in the coming months”, considered Edward Moiaof oanda.
On the other hand, the industrial orders they increased 0.4% in April over May, half what was expected and below the 0.6% in March.
Among the values of the day, Apple Inc. had smooth sailing during the first part of the day, before the presentation of its first “mixed” (virtual and augmented) reality headset, called VisionProa field in which the irruption of the manufacturer of the iphone for years and which is currently dominated by Goal (Facebook, Instagram, Quest).
“Blending digital content with the real world will allow us to create new experiences like we’ve never seen before”said the CEO of Apple, Tim Cookby introducing this “revolutionary new product”, which resembles a pair of ski goggles.
Apple stands at a record for market capitalization, of more than US$2.8 trillion, despite the fact that the apple firm lost 0.8% after the announcement of the marketing price of the new product.
Meta, Apple’s big competitor in the metaverse with headsets starting at $500 and commanding 80% of the market, dropped 0.5%.
Wall Street earnings last week
Wall Street rose on Friday after a report showed wage growth had moderated in May, raising hopes the Fed could skip a rate hike next week, while investors welcomed a Washington deal that would avoided a catastrophic debt default.
Awaiting next week’s key inflation data, traders estimate at 76% the probability that the Fed will decide to hold rates at their monetary policy meeting on June 13 and 14, according to the tool fedwatch of CME Groupalthough they expect another rise in July.
The S&P 500 closed at a nine-month high on Friday and the tech-heavy Nasdaq hit a one-year high, after reports of jobs and earnings from big companies have outperformed the broader market this year.
Source: Ambito
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