US Stock Diary｜Dow falls 100 points, new stocks rise by double digits
All three major Wall Street indexes fell, with the Dow Jones Industrial Average falling about 100 points. The market is waiting to see the interest rate meeting, and it is generally expected that interest rates will remain unchanged this time, but there is still a chance of raising interest rates again this year. The interest rate on the 10-year U.S. Treasury note rose, reaching its highest level since 2007. Another new stock listing performed well. Instacart, a grocery delivery company, closed up 12% on its first day of trading.
U.S. stocks and foreign currencies real-time quotes and news from many countries can be viewed at any time
Market conditions on September 19 (Tuesday)
l The Dow Jones index fell 106.57 points, or 0.31%, to 34,517.73 points.
l The S&P 500 index fell 9.58 points, or 0.22%, to 4,443.95 points.
l The Nasdaq index fell 32.05 points or 0.23% to 13,678.19 points.
l New York oil futures for October delivery closed at US$91.20 a barrel, down US$0.28 or 0.3%.
l New York December gold futures closed at US$1,953.70 an ounce, up US$0.3 or less than 0.1%.
l The U.S. 10-year Treasury bond yield closed at 4.365%, up 4.6 points.
The U.S. Federal Reserve holds a two-day interest rate meeting and will announce the results on Wednesday. The market generally believes that interest rates will remain unchanged.
Goldman Sachs predicts that in the latest interest rate dot plot released by the Federal Reserve, a slight majority of officials will be inclined to raise interest rates again. In addition, the Federal Reserve raised its forecast for U.S. economic growth in 2023 from 1% to 2.1% to reflect the resilience of the U.S. economy.
Laura Cooper, senior macro investment strategist at BlackRock iShares EMEA, said that due to continued inflationary pressure, the Federal Reserve will maintain interest rates in a restrictive range in 2024.
On the eve of the announcement of the results of the interest rate discussion, the interest rate on the 10-year U.S. Treasury bond rose to 4.365%, a new high since 2007.
Arm, a chip design company that performed well on its first day of listing, fell for three consecutive trading days. It closed down 4.88% on Tuesday to US$55.17, down about 20% from its listing high of US$69. Financial services firm Bernstein rated the company “underperform” with a price target of $46, saying the company may not be a beneficiary of the field of artificial intelligence as some investors expect.
Instacart, a grocery delivery company, went public with an issue price of $30. It rose as much as 40% to $42 and closed at $33.7, up 12%.
Disney announced that it would double its investment in cruise ships and theme parks, and its stock price fell more than 3%.
2023-09-19 21:22:11
#Stock #DiaryDow #falls #points #stocks #rise #double #digits
