New York .- Wall Street ended in the red on Wednesday, fretting over mixed US economic growth and employment data and significant responses to tech companies’ earnings reports.
At the close of trading, the Dow Jones dropped by 0.22% to 42,141 points; the S&P 500 fell by 0.33% to 5,813, and the Nasdaq decreased by 0.56% to 18,607.
Macro-economically, recent figures present a mixed picture: US economic growth slowed more than expected, while Wednesday’s payroll data pointed towards a stronger-than-anticipated labor market.
Preliminary GDP figures suggest that the annual growth rate between July and September was 2.8%, down from the previous period’s 3% growth rate.
Additionally, October’s latest ADP private payroll report revealed that job creation reached its highest level in over a year: 233,000 jobs.
In corporate news, Alphabet saw a 2.8% increase after reporting on Tuesday a 38% year-over-year increase in profits, driven by its advertising business and cloud services.
Meanwhile, the forum platform Reddit surged 42% after reporting its first profitable quarter in its 20-year history, thanks to advertising and data licensing deals.
Other significant movements included Super Micro Computer (-33%), due to uncertainties about the firm’s financial accounts, and AMD (-10%), due to revenues falling short of expectations.
Investors will react to Microsoft and Meta’s results on Thursday, which are being released at the end of Wednesday’s session.
By sector, the biggest losses were in technology companies (-1.34%), while the communication sector saw the largest gains (0.99%).
Among the Dow Jones’ 30 listed companies, notable declines included Intel (-2.6%) and IBM (-2.6%), whereas Visa (2.9%) and American Express (1.3%) experienced gains.
In other markets, the price of Texas intermediate oil (WTI) rose to $68.61, the yield of the 10-year bond increased to 4.292%, gold rose to $2,798 an ounce, and the euro was exchanged at 1.0858.
creditos de las imagenes de este post: Deultimominuto.net
