Wall Street settled mixed but with records

Wall Street settled mixed but with records

Wall Street settled in the mixed territory. However, the Dow Jones and the selective S&P 500 extended their records. 

The Dow Jones grew by 0.31% or 110.02 points, to 35,625.40, and the S&P 500 advanced by 0.26% or 11.71 points, to 4,479, 71.

The Nasdaq market lost 0.20% or 29.14, to 14,793.76. 

The New York stock market seemed to put aside concerns the global stock market has been disturbed by. The latest data for industrial production and retail sales in China delayed growth and hit the Asian stock markets. 

Analysts state that investors have their sights set on several US retail quarterly results to be delivered this week, including Home Depot and Walmart, which ended slightly higher today. 

The S&P 500 multiplied from its pandemic bottom

This Monday, the S&P 500 two-folded the value of its most critical moment after the pandemic broke out when it bottomed out at 2,237.40 points on March 23, 2020.

According to CNBC, this is the fastest bullish “rally” of the S&P 500 since World War II. It typically takes about 1,000 sessions to achieve such a bounce.

Gloomy data from the Chinese economy initially cooled investors.

The situation in Afghanistan, where the Taliban forces took control, had also triggered geopolitical angst in the market in the morning. However, it has not become a factor of fear. 

The unexpected decline in industrial production in New York weighed on the mood of early trade.

On the S$P, seven of the eleven sectors settled in the green, led by health increasing by 1.13%. Public services followed it, gaining 0.65%, and information technology added 0,44%. 

The energy sector slipped by 1.83% after the slide in oil prices. 

Investors positioned themselves before several financial results from companies, including Walmart, increasing by 0.82%. DIY giant Home Depot added 1.13%.

Tesla lost 4.32% to $686.17. The American road safety agency declared Monday the opening of a preliminary investigation into the driving assistant known as “Autopilot,” after eleven accidents. 

The COVID vaccine maker Moderna has dropped 4.08% to $373.96 after rising some 250% this year. 

ContextLogic, the parent company of Wish, plunged by 9% after a double-digit decline at the end of the week. Last week, the group had announced quarterly sales down.