The markets suddenly objected after the issuance of important data. Gold and stock prices fluctuate while the dollar fluctuates.
During this trading period, the US stock indices fell today, Thursday, as a result of the frequent selling operations that began on Wednesday, with the release of US economic data affecting the policy of the US Central Bank.
The S&P 500 fell 0.4%, while the Nasdaq Composite was flat. The Dow Jones Industrial Average fell 50 points, or 0.15%.
The benchmark 10-year Treasury yield traded around 4.1% and reached its highest level since November 2022. The real estate sector was hit hard by higher interest rates, falling more than 1%.
The busy earnings week continued, as chip maker Qualcomm (NASDAQ:QCOM) posted a 10% loss on missing third-quarter revenue projections and issuing discouraging guidance. With regard to PayPal Holdings Inc (NASDAQ:PYPL), its stock fell 10% after the results were published, while shares of Biotechnology Moderna (NASDAQ:MRNA) rose 1.5% on encouraging earnings expectations for the “Covid” vaccine.
The earnings of the two leading technology companies, Apple and Amazon, will be announced after the markets close. To date, about 79% of S&P 500 companies have released their most recent quarterly reports, and about 82% of them have exceeded forecasts, according to FactSet.
Lucid Motors shares fell 0.65% to $6.85 a share. On the other hand, Tesla shares fell by 0.13%, while Alibaba Group Holding Ltd. ADR rose by 2.3%.
The purchasing managers’ index in the non-manufacturing sector, which was issued by the Institute for Supply Management, scored forty-one hundred and seven points, while experts’ expectations were that it would reach fifty-three points. In the previous measurement, he scored the fifty-nine point.
The services PMI recorded 52.3 points, while expectations were for 52.4 points, and the previous reading was 54.4 points.
Regarding factory orders, it increased by 2.3%, while it was expected to increase by 2.2%, and the previous reading was 0.3%, but it was revised to 0.4%.
According to expert forecasts, 227 thousand jobless claims were registered, but it was 221 thousand in the previous week.
