Home » Business » US Market Roundup: Dow Jones Down in Third Consecutive Session, Nasdaq Composite Achieves Highest Close in 8 Months

US Market Roundup: Dow Jones Down in Third Consecutive Session, Nasdaq Composite Achieves Highest Close in 8 Months


The Dow Jones is down for the third consecutive session
The Nasdaq Composite achieved its highest close in more than 8 months

The major US indices closed mixed on Wednesday’s session after inflation data for April came in better than expected.

The Consumer Price Index rose 4.9% in April, compared to expectations of 5%, renewing hopes that the Fed’s rate hike cycle is coming to an end.

Talks about raising the federal government’s $31.4 trillion debt ceiling also entered a new phase on Wednesday as some potential areas of compromise emerged after the White House meeting on Tuesday.

US indicators:

The Dow Jones index declined by 0.09%, equivalent to 30 points, recording its third daily decline in a row, pressured by the decline in American Express and Chevron shares by 3% and 1.3%, respectively.

While the S&P 500 index rose by 0.4%, the Nasdaq Composite Index rose by more than 1%, recording its highest close in more than 8 months, specifically since late August 2022.

Technology stocks recorded a remarkable recovery after the technology sector rose by 1.5% in the S&P 500 and by 1.6% in the Nasdaq index.

Alphabet share:

Alphabet stock jumped more than 4% in Wednesday’s session, its highest close in more than 8 months.

The company achieved market gains of about $56 billion in one day, raising its market value to more than $1.4 trillion.

And Alphabet announced it was adding more artificial intelligence services to its core search product in response to competition from Microsoft.

Airbnb stock:

Airbnb stock fell nearly 11%, posting its biggest daily loss in more than 6 months, due to weak booking expectations as well as lower average daily prices in the second quarter.

2023-05-10 23:32:20
#Alphabet #achieves #market #gains #billion #day #Airbnb #shares #record #largest #daily #loss #months

×
Avatar
AI Chatbot
World Today News Chatbot
Hello, would you like to find out more details about

The Dow Jones is down for the third consecutive session
The Nasdaq Composite achieved its highest close in more than 8 months

Technology stocks recorded a remarkable recovery after the technology sector rose by 1.5% in the S&P 500 and by 1.6% in the Nasdaq index.</p>\r\n<p></p>\r\n<h4><br/>Alphabet share:</h4>\r\n<p>Alphabet stock jumped more than 4% in Wednesday's session, its highest close in more than 8 months.</p>\r\n<p>The company achieved market gains of about $56 billion in one day, raising its market value to more than $1.4 trillion. </p>\r\n<p>And Alphabet announced it was adding more artificial intelligence services to its core search product in response to competition from Microsoft.</p>\r\n<p><img src="https://backend.admin.prod.cnbcarabia.com/s3Content/16107103bd07.png" width="100%"/></p>\r\n<h4>Airbnb stock:</h4>\r\n<p>Airbnb stock fell nearly 11%, posting its biggest daily loss in more than 6 months, due to weak booking expectations as well as lower average daily prices in the second quarter.</p>\r\n<p> </p>\r\n<p><img src="https://backend.admin.prod.cnbcarabia.com/s3Content/d19bc18b4a.png" width="100%"/></p>\r\n<p> </p></div></div> \r\n2023-05-10 23:32:20 \r\n #Alphabet #achieves #market #gains #billion #day #Airbnb #shares #record #largest #daily #loss #months ?">
 

By using this chatbot, you consent to the collection and use of your data as outlined in our Privacy Policy. Your data will only be used to assist with your inquiry.

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.