Stocks on Wall Street falter, clinging to weekly gains – Press Telegram


By DAMIAN J. TROISE

On Friday on Wall Street, stock prices fluctuated between a slight rise and a slight fall, and barely rose this week.

The weak show follows a two-day rally that helped quell the crisis earlier in the week. Investors face similar instability throughout September as they seek to gauge the continued economic recovery.

The S&P 500 fell 0.1% at 11:40 a.m. EST. The Dow Jones Industrial Average lost 40 points (0.1%) to 34,723, while the Nasdaq was down 0.4%.

The S & P500 share price rose slightly. Weak technology stocks offset the profits of banks and industrial companies. The index maintained a rise of 0.2% over the week.

Bond yields continued to rise. Yields on 10-year Treasuries fell from 1.41% Thursday night to 1.45%. As of Monday’s end of day, the return was 1.31%.

Nike was the last company to warn investors of low-profit supply chain issues. Stock prices fell 6.8%. Various industries are facing supply chain issues and investors are concerned about rising costs for businesses and consumers. Analysts warn that these issues could put pressure on corporate earnings for the next round.

Concerns over struggling Chinese real estate developer Evergrande also focus on emotions. Some Chinese banks are suffering from less than $ 310 billion in debt on Friday, revealing what Evergrande owes in an attempt to allay fears of a financial crisis. Evergrande said it negotiated details of interest payable to Chinese banks and other bondholders on Thursday, but did not provide details. The company has not yet announced whether it will pay out $ 83.5 million in foreign bonds on Thursday.

Japan’s Nikkei 225 rose 2.1%, but the European market fell and the Asian market almost fell.

Cryptocurrencies plummeted after all transactions, including cryptocurrencies, were declared illegal as China’s central bank stepped up campaigns to block the use of informal digital currency. Bitcoin was down 4% to $ 42,142.45, according to Coindesk. Nvidia, a chipmaker that makes the processors needed for crypto mining, fell 2.6%.

Wall Street Stocks Wobble, Hanging on to Weekly Gains – Press Telegram Source Link Wall Street Stocks Wobble, Hanging on to Weekly Gains – Press Telegram

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