Wall Street volatility continues as stocks close lower Financial Market News

Wall Street rose sharply on Thursday as the S&P 500 again avoided confirmation of the rally at the end of the rally, a sell-off and a recovery-marked session as investors combined positive economic news with corporate profits, geopolitical unrest and the possibility of more grassroots. US Federal Reserve.

The Dow Jones Industrial Average fell 7.31 points, or 0.02 percentage points, to close at 34,160.78 points. The S&P 500 lost 23.42 points, or 0.54 percent, to end the session at 4,326.51, and the high-tech Nasdaq Composite Index fell 189.34 points or 1.4 percent to 13,352.78.

The three major U.S. stock market indices have hit uncertainty in recent days, marked by large fluctuations and higher volatility.

The smaller chapters have been more memorable, with Russell 2000 now below 20 per cent above the November 8 record, and since then the index has officially confirmed that it has been in the bear market.

“This is a market for schizophrenia,” said Tim Ghriskey, a senior portfolio strategist at Ingalls & Snyder in New York. “There are those who think that everything negative has been discounted and that the worst is yet to come.”

“It’s a time of great uncertainty; It’s been like this for a whole month, ”added Ghriskey.

Among the economic data released on Thursday, the U.S. Department of Commerce reported fourth-quarter gross domestic product growth as the U.S. economy grew at the fastest pace in nearly four decades in 2021.

A statement from the Fed’s Federal Reserve Market Commission on Wednesday saw markets near key interest rates near zero, and in a session of Fed Chairman Jerome Powell’s subsequent questions and answers, he raised the possibility of further rate hikes this year. expected earlier, starting in March.

The Fed funds futures market is priced up nearly five percent this year after Powell notes.

Geopolitical tensions erupted as Russia continued to gather troops along the Ukrainian border and diplomats struggled to avoid conflict in the region.

The fourth-quarter reporting season has progressed, according to 145 S&P 500 companies. Of these, 79 percent reported high consensus results, according to Refinitiv data.

Analysts see total year-over-year fourth-quarter earnings growth of 24.2 percent for the S&P 500 for each Refinitiv.

“The numbers, and especially the guidelines, have been less inspiring and that’s a limiting factor so far this week,” said Chuck Carlson, Hammond, chief executive of Horizon Investment Services in Indiana.

The challenges of the supply chain, the engine that drives inflation since the resurgence of the global health crisis, have been a recurring theme this season of profit.

Intel Corp. cited this issue as the reason for its disappointing first-quarter earnings forecast, which led to a drop in shares.

Intel’s poor outlook weighed on the broader sector, significantly lowering the Philadelphia SE semiconductor index significantly.

Shares of Tesla Inc were down after the company warned that supply problems would persist through 2022. Shares of rival Lucid Group and Rivian Automotive also ended lower.

Netflix Inc. has announced that billionaire investor William Ackman has raised a new $ 1 billion stake in the company.

Apple Inc.’s results were expected after the market closed.