May 28, 2022

Balkan Travellers

Comprehensive up-to-date news coverage, aggregated from sources all over the world

The Dow is down 653 points, and the S&P is back below 4K for the first time since 2021

The Dow is down 653 points, and the S&P is back below 4K for the first time since 2021

US stocks fell sharply on Monday, push Standard & Poor’s 500 Below the 4000 key level as investors brace for another week of volatility amid a fresh report on inflation, as well as the conclusion of the first-quarter earnings season.

ribbon protection else they change they change %
Me: DJI Dow Jones averages 32245.7 -653.67 -1.99%
SP500 Standard & Poor’s 500 3991.24 -132.10 -3.20%
I: COMP Nasdaq Composite Index 11623.2484 -521.41 -4.29%

The Dow Jones Industrial Average is down more than 600 points, or 2%, the Nasdaq Composite is down 4%, and the S&P is down to levels not seen since April 2021.

Big-cap technology contributed the bulk of the sale, with Apple and AMD among the biggest losers.

Benefits of Tyson foods such as beef, chicken and beef prices

ribbon protection else they change they change %
AAPL Apple company 152.44 -4.84 -3.08%
AMD Advanced Micro Devices Company 86.36 -8.98 -9.42%

The 10-year Treasury yield remained above 3%. Currently, 436 companies in the S&P 500, or nearly 90% of the benchmark, have published results for January through March, and so far the numbers have come in well ahead of expectations.

In earnings, Tyson Foods bucked the sale as higher prices for beef, chicken and pork helped drive sales at the meat processor.

ribbon protection else they change they change %
TSN Tyson Foods Co 92.84 +2.02 + 2.22%

Shares of Rivian fell after Ford cut its stake in the electric car maker by 8%.

ribbon protection else they change they change %
countryside RIVIAN AUTOMOTIVE INC. 22.78 -6.01 -20.88%
F Ford Motor Company. 13.37 -0.84 -5.91%

Uber shares lost ground after the company assured FOX Business that it would cut hiring and focus on cost control.

ribbon protection else they change they change %
Uber Uber technology company 23.05 -3.02 -11.58%

Richard Branson’s Virgin Galactic fell after Trust Securities analyst Michale Ciarmoli cut its target price from $24 to $8 a share after the space company delayed its commercial travel plans until 2023.

ribbon protection else they change they change %
SPCE Virgin Galactic Holdings Inc. 6.07 -0.73 -10.74%

battered US stocks may not be bargaining as investors brace for inflation data

Oil was lower along with gold, with US crude oscillating at $103 a barrel and the yellow metal at $1,857 an ounce.

China remains an outsider in an ever-expanding world

ribbon protection else they change they change %
USO United States Petroleum Fund LP 76.57 -5.56 -6.77%
GLD SPDR Gold Stock Confidence – EUR ACC 172.89 -2.59 -1.48%

With crude oil lower, so did major oil companies including Marathon, ExxonMobil and Chevron, as lockdown fears in China threaten demand.

ribbon protection else they change they change %
MRO Marathon Oil Company. 24.22 -3.93 -13.96%
CVX Chevron Corporation. 159.38 -11.44 -6.70%
XOM EXXON MOBIL CORP. 84.49 -7.23 -7.88%

Gas prices, per AAA, were again trading above $4.30 per gallon.

Bitcoin also fell to the $31,000 level.

Get your FOX business on the go by clicking here

The Associated Press contributed to this report.

See also  How is Netflix's password-sharing campaign likely to work