Benchmark equities ended slightly higher than yesterday while most of the stocks are lost in direction as Wednesday market session closed. Throughout the session, the major indexes continued to see-saw between gains and losses, which proves the market’s volatility at the moment while investors are waiting for the economic data reports that are expected to come in later this week.
Another factor contributing to the unstable market is the lingering fear over inflation despite the FOMC’s statement of it being short-term and not impacting enough to change the existing policies.
A choppy market continued for most of the stocks but despite these, Zoom Video Communications (ZM) stocks managed to jump in value right after they released their Q1 earnings report that overwhelmed the estimates.
This movement partially help wash over concerns on growth slowdown for software companies as pre-pandemic settings for normal activities continue to improve.
- The Dow Jones Industrial Average slightly higher at 34,600.77 with an increase of 25.46 points or 0.07%.
- NASDAQ Composite Index improved by 19.85 points or 0.14% and ended 13,756.33.
- The S&P 500 Index was little changed at 4,208.20 gaining 6.16 points or 0.15%.
- Japan’s Nikkei 225 gained by 035% or 102.16 points and closed to 29,048.23.
- Hong Kong’s Han Sen stepped down at 29,238.66 points or 0.20% loss.
- S. 2 Year Treasury yield decreased by 0.002 basis points or 1.35% and closed at 0.147.
- S. 5 Year Treasury yield went up by 0.003 basis points or 0.40% at 0.795.
- S. 10 Year Treasury yield gained 0.002 basis points or 0.11% and ended 1.589.
Crude went up while metal went down for commodities.
- Gold up to $1,907.76 per ounce after gaining $3.52 or 0.18%
- Silver currently at $28.08 per ounce with a 0.48% gain or $0.14.
- Western Texas Intermediate Crude climbed 0.68% and now at $69.30 per barrel.
- Brent crude at $71.84 per barrel after jumping by 0.69%.
Currency exchange looks like this on Wednesday:
- S. Dollar Index up by 0.05% at 89.95.
- Euro down by 0.07% closing 1.22020 vs USD.
- Yen increased by 0.14% at 109.682 against USD.
- British Pound down by 0.01% at 1.4167 versus USD.
- Canadian Dollars gained 0.5% at 1.20418 vs USD.