Skip to content
Wall Street opens lower, eyes on Ukraine


The New York Stock Exchange opened lower on Thursday, undermined by increasing signs of escalation in the Ukrainian crisis, in a context already strained by the prospect of imminent monetary tightening.

In trade, the Dow Jones yielded 1.25%, the Nasdaq index, with a technological majority, 1.16%, and the broader S&P 500 index, 1.25%.

“The focus remains on the situation in Ukraine and Russia,” said Peter Cardillo of Spartan Capital. “It’s going to be another day of anxiety. »

US Ambassador to the UN Linda Thomas-Greenfield said on Thursday that Russia was “heading for an imminent invasion” of Ukraine.

Russia has announced new withdrawals of troops and equipment posted on the border with Ukraine, two days after a first signal which had been questioned by American diplomacy.

In addition, bombings have been observed in eastern Ukraine, where the Ukrainian army has been fighting pro-Russian separatists since 2014, with the two parties blaming each other for the deterioration of the conflict.

These latest developments benefited the bond market and the rate of 10-year US government bonds fell sharply to 1.96%, against 2.04% the previous day.

“The migration to safer assets is underway,” observed Peter Cardillo.

“Of course, the market that suffers the most is the Nasdaq”, rich in technology and growth stocks, traditionally shunned when the market loses its nerves.

Among them, the graphics card maker Nvidia which unscrewed at the start of the session (-6.83% to 247.01 dollars), despite better than expected results and a sales forecast significantly higher than analysts’ expectations.

“Dark clouds hang over the market,” Patrick O’Hare of Briefing.com commented in a note.

“Whether we’re talking about Ukraine, monetary tightening or earnings growth, it’s all shades of gray right now, which is why market behavior has been changeable. »

The few minor macroeconomic indicators released on Thursday did not change the market’s mood.

Weekly jobless claims have thus increased, more than expected, compared to the previous week, while manufacturing activity in the Philadelphia region has slowed more than economists expected.

On the rating, Walmart advanced (+ 3.18% to 137.78 dollars) thanks to quarterly results above expectations. The distribution giant has managed to gain market share in food in the United States, having chosen to be competitive in its prices despite the current inflationary pressure.

The American meal delivery platform DoorDash soared (+ 15.43% to 109.53 dollars) after the publication Wednesday after the stock market, of a turnover higher than expectations. Expected at the turn after being one of the big winners of the pandemic, the group says it anticipates strong growth in orders in 2022.

Hasbro benefited (+6.98% to 103.81 dollars) from the initiative of the investment company Alta Fox, holder of 2.5% of the capital of the toy specialist and which proposed its own candidates for the board of administration as well as an evolution of the company’s strategy.

The telecommunications group Cisco was also at the party (+4.13% to 56.49 dollars), after raising its objectives for its 2022 financial year (closed at the end of July).

]

Source

The article Wall Street opens lower, eye on Ukraine appeared first on zimo news.

zimonewszimonews Trans

Not all news on the site expresses the point of view of the site, but we transmit this news automatically and translate it through programmatic technology on the site and not from a human editor.