Wall Street closed mixed with Dow Jones falling by 0.36%

Wall Street closed mixed on Wednesday. The US Fed kept the monetary policy intact in an attempt to accommodate an economy that still needs to improve substantially. However, the market did not show any clear direction.

The Dow Jones lost 0.36% or 127.59 points, to 34,930.93.

The selective S&P 500 dropped a slight 0.02% or 0.82 units to 4,400.64.

Meanwhile, the Nasdaq market composite index ended in the green, advancing by 0.70% or 102.01 points, ending at 14,762.58.

The Fed kept interest rates near 0%

Fed Chairman Jerome Powell announced that interest rates would remain near 0% despite the high inflation in the US. According to the Fed, the economy of the world’s leading power is not strong enough yet. Powell stated that the country is still a long way from registering substantial progress towards the maximum employment target.

The US central bank director also stressed the advance of the delta variant of the coronavirus. However, he pointed out that it does not pose a severe threat to the US economy.

According to Anu Gaggar from Commonwealth, the markets are applauding the Fed’s continued patience.

Around 89% of companies listed in the S&P 500 have already revealed their financial results that have exceeded expectations.

By sector, the energy sector posted its highest gain adding 0.97%. Meanwhile, telecommunications increased by 0.75% and health gained 0.38%. As for the largest losses, consumer goods essentials dropped the most, yielding 0.87%. Also, public services shed 0.69%, and real estate lost 0.63%.

Among the 30 prominent companies listed on the Dow Jones, Boeing led profits surging by 4.18%. Caterpillar added 0.73%, and Walgreens Boots Alliance increased by 0.62%. On the other hand, McDonald’s led losses yielding 1.86%. Meanwhile, Travelers shed 1.71%, and American Express declined by 1.69%.

Nikkei gains due to the Nasdaq’s advance

The Nikkei gained on Thursday thanks to a rise in technology. The Tokyo Stock Exchange benefited from the advance of the Nasdaq on Wall Street on Wednesday.

The Nikkei added 0.73% or 200.76 points to 27,782.42. Meanwhile, the broader Topix index gained 7.78 points or 0.41%, at 1,927.43.

Advantest presented good quarterly results and soared by 7.33% today. Meanwhile, Nissan Motor, the vehicle manufacturer, surged by 5.76%.

However, analysts stay cautious, given the repeated records of new daily infections of Covid-19 in Tokyo during the Olympic Games.

The precision instruments, shipping and electrical devices sectors led earnings today.

Olympus, the manufacturer of optical and imaging equipment, advanced by 1.84%. Besides, Nikon, the manufacturer of photographic equipment, closed with a rise of 0.58%.

The shipping company Mitsui OSK Lines grew by 1.61%. Meanwhile, Mitsubishi Electric increased its value by 0.7%, and Toshiba added 1.62%.

Textile giant Fast Retailing gained 0.9%. Moreover,  the world’s largest car producer, Toyota Motor, enjoyed a rise of 0.53%.

The business volume in the first section amounted to 2,579 trillion yen, compared to 1,037 trillion yen the day before.

Seoul improved thanks to good corporate results

The Seoul Stock Exchange advanced thanks to the good financial results for the second quarter, presented by some of the main companies in the world. 

The Kospi gained 0.18%, or 5.79 points, to 3,242.65. Meanwhile, the Kosdaq technology index rose by 0.82% or 8.45 points to 1,044.13.

Samsung Electronics presented a balance sheet beating its historical record for the second quarter.

Thus, the main values ​​of the Kospi closed in mixed territory today.

Samsung Electronics fell by 0.25%, while the world’s second-largest memory chipmaker SK Hynix, closed flat.

In the biopharmaceutical sector, Samsung Biologics climbed by 0.55%. Its competitor Celltrion also closed unchanged.

Naver lost 0.74% while Kakao, the most popular national messaging application operator, enjoyed a 3.4% rise.

Hyundai Motor, the main car manufacturer in the country, declined by 0.22%.