All the big US stock indexes continues to exhibit the mixed performance after their recent rally, which was supported by the latest consumer and producer inflation data. The Dow Jones Industrial Average, S&P 500 Index, and Nasdaq-100 continue to display fluctuating trends. This can be because the global markets are adjusting to the new economic information. As Dow Jones ends lower, the 30-stock index saw a decline of ~45.74 points, or 0.13%, to end the session at 34,945.47. As a result of this, the index has snapped a four-day winning streak. S&P 500 closed higher by ~0.12%, to close the session at 4,508.24. Nasdaq Composite ended higher too, inching up by ~0.07% and ending at 14,113.67.
Since Dow Jones ends lower mainly because of the several earnings releases. On this front, Cisco Systems closed the day lower, as the shares of the company fell by ~10%. This decline was the result of weak guidance which was given by the company for the current quarter and full financial year. Apart from this decline, shares of Walmart ended the day lower as the company’s stock slid ~8%. This decline was mainly due to the lower-than-expected forecast provided by the retail king for the full year. Both of these stocks led the declines in Dow Jones. The shares of Chevron fell by ~1.6% after the US crude oil prices declined by ~5%.
With the pause of November’s rally, stocks are still on their way to end the week on a positive note as 3 indexes are up ~2% each for the period. Earlier in the week, 2 inflation reports provided the much-needed support.
The economic data which has been released so far continues to confirm that, for now, we all are in the gentle deceleration phase, as we are heading back to the less inflation time without any proof of the strong contraction. Even though the Dow Jones ends lower, all the major averages are on pace for strong and massive gains for this month. The S&P 500 was up by over ~7%, while Dow Jones went up by ~5.7%. However, Nasdaq saw an increase of ~9.8%.
Elsewhere in the bonds market, the US 10-year yield fell, which ended at ~4.444%. The two- and 30-year yields saw declines. Apart from this, US Fed’s monthly measure of output and capacity utilization in manufacturers, miners and utilities saw the decline by more than the anticipations last month.
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