Saturday , January 29 2022

US stocks on the market – Dow Jones fell by more than 230 points, business profits are not good, brings bad


US stocks fell in the middle square on Monday, and Dow Jones fell by over 230 points. Concerns about China's economic downturn have also affected the stock market atmosphere.

Taipei Time 00: 8

Dow Jones Industrial Average fell by 117.17 points or 0.49% to 23878.78 points.

The Nasdaq index dropped by 50.76 points or 0.74% to 6920.71.

The S&P 500 index fell by 12.86 points or 0.50% to 2583.40.

Facebook, Amazon, Apple, Netflix and Alphabet fell by at least 1%. S&P 500 technology stocks also fell by 1%.

In the first three quarters of last year, corporate profits have risen by at least 25%. CFRA Research estimates that S&P 500 companies are expected to grow by 12.6% in the fourth quarter.

Analysts say that in 2019, corporate profits will be more difficult to grow. As economic growth slows down, US dollar and oil prices are still low, and corporate profits are expected to grow by only 3% in 2019.

The fourth quarter earnings season started on Monday, and Citigroup reported stronger than expected earnings, but the bank also reported a 21% decline in fixed income sales.

Last week, the US's largest index rose sharply, and Dow Jones and S&P 500 finished three weeks in a row. In December last year, the stock market was sold and S&P 500 came to the short-selling market.

But Nicholas Colas, co-founder of DataTrek Research, believes the stock market is not yet clear.

He said: "Since the beginning of this year, S&P 500 has risen by 3.6%, mainly because the pressure from the new year's sales tax has come to an end. The biggest losers in the 2018 S&P 500 index, released last month, have increased this year. by 9.5%. "

He also said: "From now on, the US stock market must continue to grow to maintain its upward trend. The earnings season started this week and is the first challenge for the stock market. The Chinese-US trade issue will be addressed at the World Economic Forum's annual meeting after nine days."

China announced on Monday that an unexpected fall in imports and exports in December had worsened concerns about the slowdown in the world's second largest economy.

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