Monday , July 4 2022

Dow starts the week with an increase of almost 200 points ::


Dow started the week with an increase of almost 200 points

Photo: Reuters

US markets have begun a stock market mostly in the green area, thanks to the financial sector and the strong performance of Berkshire Hathaway, CNBC reported.

Blue Chip Index Dow Jones Industrial Average increased by 190.87 points (0.76%), reaching 25461.70 points. In its turn, the large scale S & P 500 increased by 0.56% to 2738.31 points.

Shares Class B no Berkshire Hathaway rose 4.7%, following a conglomerate announcement last week last week that it bought nearly $ 1 billion in high-end markets. The financial sector as a whole grew by 1.4%.

On the other hand Citigroup, Bank of America and J.P. Morgan chase increased by 2.09%, 0.31% and 0.66%, respectively.

The impact on the performance of Dow was also Chevron, which increased prices by 3.7%.

Taking this into account Nasdaq composite the session ended in a negative territory with a drop of 0.4% to a level of 7328.85 points. The main reason for the promotions was Apple and Amazon, which fell by 2.8% and 2.3% respectively.

Apple's decline is due to the fact that Rosenblatt Securities downgraded the company's rating, as it was expected that iPhone phones would be smaller. Amazon stocks fell after President Donald Trump said the administration was investigating alleged violations of antitrust by the trader.

Wall Street investors also expect to hold a temporary presidential election for Congress on Tuesday, which could also trigger shocks in capital markets.

The Democratic Party is expected to regain control over the House of Representatives, while Republicans will retain a small majority of the Senate. Such a result is considered to be a positive market, since US shares are traditionally well-functioning if the parties have shared power.

If the Republicans retain their majority in both chambers, it could give the stock a short-term incentive, as the tax reduction option will increase.

"There is a lot of news that investors will have to rush out this week," informs Ryan Nauman, Informa's Financial Intelligence Market Strategist, who says that even more instability is coming on the election day.

Investors are still affected by the uncertainty of the trading stage. On Monday, Chinese President Ciang Jinpin spoke in his speech again resisted protectionist policies and promised China to continue to open the world.

About commodity markets oil cheaper American variety WTI are traded at $ 62.78 per barrel, which is 0.57% lower. International standard Brent amounted to 72.72 US dollars per barrel, which is 0.15% less.

Gold did not notice significant price changes, reducing by at least 0.02% to $ 1233 per troy ounce.

With US government securities, profit margins decline. Up to 10 year bonds that's 3,195%, and inside 30 years old – 3.43%.

On the eve of the US election dollar lost weight. Dollar index, which reported the US currency resistance to a basket of competing currencies, fell 0.23% to 96.32 points. Last week it reached the highest level since June 2017 at 97.20 points

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