HP jumps out after Buffett's Berkshire unleashed a strike
The S&P 500 came to an abrupt end on Thursday, when Microsoft and Tesla rallied a recent meeting as investors anticipated a possible Ukrainian war with the Federal Reserve.
Profits from Microsoft Corp, Tesla Inc and Apple Inc helped lift the S&P 500.
Also backing the S&P 500, Pfizer Inc escaped after it bought the privately owned ReViral Ltd worth $ 525 million, its second acquisition in less than six months to upgrade its drug portfolio.
S&P traded losses most of the day before the meeting near the end of the session.
"We do not know how Ukraine will resolve itself. We do not know how this hawkish Fed will affect the economy. We do not know if he can move around in a soft spot. The equivalent of the whipsaw market, ”said Dennis Dick, a trader. "If you follow the trends, it means you are lost in this market because the whole market is a chop."
Shares of mega-cap growth came under pressure earlier this week after Fed policymakers' comments and minutes of a central bank meeting in March called for the immediate removal of renewal measures imposed during the violence.
President of St. Minutes released Wednesday show that Fed officials have "generally agreed" to cut up to $ 95 billion a month on the supply of central bank assets as the Ukrainian military provokes an increase in US interest rates since 2018.
"Investor recognition remains that the Fed is not yet in good shape and we will confront them with wanting to do more to continue regulating inflation," said Anastasia Amoroso, chief investment strategist.
Traders now see a 88.9% chance of a 50-point increase in a state bank meeting next month.
American companies will begin reporting first-quarter results in the coming weeks, with banks starting the season next week. Analysts on average expect S&P 500 corporate profits to grow by 6.4% in the quarter of March, according to data. That compares with more than 30% growth over the last quarter. Of the 11 S&P 500 sector indicators, sales were among the lowest, while the health sector index was among the most profitable.
Adding to the warning, Russian Foreign Minister Sergei Lavrov said Ukraine had introduced to Moscow a peace deal containing "unacceptable" items, while the US Senate voted to remove Russia's "favorite" trade status from a single bill and curb oil imports. in another.
According to preliminary data, the S&P 500 scored 17.83 points, or 0.40%, to finish at 4,498.98 points, while the Nasdaq Composite scored 5.78 points, or 0.04%, to 13,894.60. The Dow Jones Industrial Average rose 93.50 points, or 0.27%, to 34,590.01.
As investors are concerned about the effect of rising interest rates, growth stocks with high interest rates are not performing very well so far by 2022.
In economic terms, the data showed the number of Americans applying for new unemployment benefits declined last week, indicating a further strengthening of labor market conditions towards the second quarter that could contribute to keeping inflation higher.
Among other retailers, HP Inc escaped after Warren Buffett's Berkshire Hathaway Inc revealed that it had purchased nearly 121 million shares in a personal computer and printing company.
Costco Wholesale Corp met after a retailer late Wednesday reported an increase in sales in March.
American Airlines Group Inc, Delta Air Lines Inc., Southwest Airlines Co and United Airlines Holdings Inc collapsed after Barclays warned of a recent rise in oil prices that hurt the first quarter's earnings.
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Courtesy Grizler.com
