The decline prevailed in US stock indices at the beginning of trading on Wednesday, despite the decline in the yield on 10-year Treasury bonds below 3.9%, the lowest level since July, with anticipation of the release of economic data to reveal more about the world’s largest economies.
At the beginning of the session, the Dow Jones Index fell by 0.2%, or 69 points, at 37,488 points, at 05:40 pm Mecca time.
While the S&P 500 index fell by 0.15%, or 6 points, at 4,762 points, the Nasdaq index settled at 15,005 points.
FedEx (New York: FDX) shares fell by 9.95% at $252.10, after the American shipping company’s business results showed a decline in revenues for the fifth consecutive quarter with continued weak demand, to record $22.2 billion during the second quarter of the fiscal year 2024. Came below expectations.
This comes after “Dow Jones” achieved five record closings in a row, and “Nasdaq” ended yesterday’s trading above the level of 15,000 points for the first time since January 2022, while “S&P 500” approached its record closing that it recorded about two years ago.
After the session ends, Micron Technology’s (Nasdaq: MU) business results report will be issued during the first quarter of the fiscal year 2024, and the chipmaker’s quarterly performance is expected to be negatively affected by weak consumer spending, due to inflationary pressures and growing concerns about the global economic slowdown.
Later today, investors will look forward to December US consumer confidence data, as well as learn more about the US housing market with the November Existing Home Sales announcement.
2023-12-20 16:08:13
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