U.S. Indices Took Different Directions On Monday Amid Uncertainties

The U.S. stock market ended the trading session on Monday, December 21, with a fall in two of the three main indices. Serious worries about an especially infectious coronavirus mutation that emerged in the UK blocked hope about fiscal stimulus initiatives in the United States at the beginning of the week.

At the beginning of the week, reaching an agreement in the US Congress on a $900 billion fiscal stimulus package, made possible by vigorous talks and the removal of a central point of contention relating to the powers of the Fed, did not prevent the withdrawal of U.S. stocks. At the same time, the session was very volatile, and the indexes lost more than 1% throughout the day, but the situation was partly rectified by the end.

The blue-chip Dow Jones Industrial Average rose 37.40 points to 30,216.45 points at the end of the day, or 0.12 percent. The broad-market Standard & Poor’s 500 index dropped 14.49 points to 3,694.92 points, or 0.39 percent. The high-tech industries’ NASDAQ Composite index dropped by 13.12 points or 0.10 percent to 12,742.52 points.

On the commodities market, NYMEX’s January futures for light crude oil dropped by $1.36 to $47.74 per barrel, and COMEX’s January delivery gold price fell by $6.2 to a value of $1880.3 per troy ounce.

Less than a dozen stocks closed in the green as part of the blue-chip index, including Goldman Sachs, JPMorgan and Nike shares contributed more than 3.75 percent, and more than 1 percent was lost by IBM, Dow, Intel, Coca-Cola, Cisco and others. Part of U.S. Balanced, shares of Apple were up 1.2 percent.

Tesla shares, which entered the S&P 500 index as of today with a weight of 1.69%, were at the epicenter of volatility. Securities have dropped by 6.5%.

On the back of the company’s fiscal second-quarter earnings, which came in at $ 11.24 billion against the average Wall Street estimate of $ 10.56 billion, Nike stock rose 4.9 percent, and net income per share hit 78 cents and beat estimates by 16 cents.

Concerns over new air travel restrictions due to the appearance in the United Kingdom of a highly infectious coronavirus mutation also contributed to a decrease in the shareholdings of air carriers and cruise operators. Royal Caribbean shares retreated 0.65%, American Airlines-2.48%, and United Airlines-1.53%.

 

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