Wall Street closed lower this Wednesday, in a context in which companies became more pessimistic about the futureaccording to a Federal Reserve survey from the United States.
The report comes as central bankers ponder how long they will have to keep interest rates at current levels.
In this context The Dow Jones Industrial Index ended at 38441.54 points, losing 1.1%, the S&P500 stood at 5266.95 points, dropping 0.7%, and the Nasdaq Composite depreciated 0.6%.
The Fed’s latest survey of the state of the economy also showed that the labor market continues to gradually cool toward more current levels.
The research, which is published approximately every six weeks, comes at a time when monetary policymakers still do not know when to start an interest rate cutting cycle.
“National economic activity continued to expand however conditions varied across sectors and districts,” the Fed said in its survey known as the “Beige Book”which surveyed business contacts in the central bank’s 12 districts through May 20.
“Overall outlook turned somewhat more pessimistic amid reports of rising uncertainty and increased downside risk“he emphasized.
According to the Beige Book, most Federal Reserve districts recorded slight or moderate growth in activity, while two recorded no change.
Meanwhile, US stock futures skidded on Wednesday, as Investors sense that the Federal Reserve may keep interest rates elevated for longer than expected.
Which Stocks Led Gains and Losses on Wall Street?
The actions of Nvidia they were slightly up 0.8% following the tech giant’s 7% gains in the previous session.
The actions of American Airlines plunged 13.54% after cutting its second-quarter earnings forecast due to a more muted outlook on travel demand. Delta Air Lines and Southwest Airlines also declined.
The titles of Robin Hood rose 3% after the trading platform announced a $1 billion share buyback.
The actions of Marathon Oil rose 9% after energy giant ConocoPhillips, which fell 3.5%, agreed to buy the Houston-based company in an all-stock deal valued at $17.1 billion that would boost the company’s shale assets. company.
The actions of Dick’s Sporting Goods They rose 16% after the retailer raised its guidance for the rest of the year after customers spent more on new sneakers and sports equipment at its department stores.
The ADRs of BHP Group rose 1% after the mining giant asked for more time to hold talks with Anglo American, which Anglo subsequently denied, as a deadline for a formal offer looms. BHP no longer intends to make a firm offer.
He CAVA Group was volatile after the Mediterranean food chain reported a decline in customer traffic in the first quarter, overshadowing the rise in its annual sales outlook and closed with a 7% gain.
UnitedHealth Group fell 4.5% after warning of risks to its business from Medicaid during a presentation. You stop him Centene. Molina Healthcare, Humana and Elevance Health also fell.
Toast skidded about 6.5% after it updated its profit growth and expansion target from two to three years during an investor presentation, disappointing most who were banking on faster growth.
Source: Ambito
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