The main indices on Wall Street stabilized yesterday, after starting the first week with a decline, while Boeing shares fell by more than 8% after the temporary grounding of dozens of Boeing 737 Max 9 planes for examination.
Technology stocks rose, as Apple shares rose more than 1% from Evercore ISI’s advice to clients to buy on the decline last week, and Nvidia and Amazon shares also increased by more than 1%.
This week, traders will get greater clarity on the path of interest rate cuts from the central bank. The December CPI is due Thursday, while the Producer Price Index is due on Friday, and will show whether the Fed’s efforts to lower inflation to 2% are taking hold.
European
European stocks continue their weak start to the year, as rising government bond yields and a decline in energy stocks negatively affected risk appetite.
The European Stoxx 600 index fell 0.1% during trading.
Yields on European 10-year bonds and 10-year German bonds rose, tracking their American counterparts, for the third session in a row.
Falling expectations for an early US interest rate cut continued to support the dollar and bond yields ahead of the release of the consumer price inflation report on Thursday.
Shares of European oil and gas companies fell 1.4%, which had a significant negative impact on the STOXX 600 index, as oil prices fell.
On the data front, German industrial orders rose less than expected, while exports rose more than expected in November.
Shares of Danish jewelry company Pandora rose 2.5% after quarterly sales exceeded expectations.
2024-01-08 22:02:19
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