On Wednesday, the Dow Jones index rose by 0.03 percent to 33,743 points, while the S&P 500 lost 0.02 percent of its value to 4,016 points. The Nasdaq index fell by 0.18 percent to 11,313 points.
For most of the day, these indices were moving in the negative area, only to reduce their losses near the end of trading. At the same time, the Dow Jones returned to the positive area, the Mina agency reports, referring to Hrportfolio.
Investors’ caution is a consequence of companies’ business results under pressure due to high inflation and slowing economic growth.
Reports have been published so far by 95 companies from the composition of the S&P 500 index, of which 67 percent recorded higher profits than expected.
Analysts estimate that companies’ earnings from the S&P 500 index in the fourth quarter of last year fell by three percent compared to the same period a year earlier. In comparison, analysts expected a 1.6 percent drop in earnings at the beginning of the year.
European stock markets also traded cautiously. The London FTSE index weakened by 0.16 percent, to 7,744 points, while the Frankfurt DAX slipped 0.08 percent, to 15,081 points, and the Paris CAC by 0.09 percent, to 7,043 points.
Dow Jones Rises
Wall Street notes the growth of the Dow Jones index, while the S&P 500 is in a slight decline due to the caution of investors for whom companies’ business results are not bad but not impressive either.
Today, the Dow Jones rose 0.31 percent to 33,743 points, while the S&P 500 lost 0.07 percent to 4,016 points. The Nasdaq index fell by 0.27 percent, to 11,334 points, the Mina agency reports, referring to Hrportfolio.
There were technical problems at the beginning of trading on the stock exchange, which affected the share prices of more than 80 companies, including Walmart and Nike, which led to an inquiry by the Securities and Exchange Commission (SEC).
After resolving technical issues, the investors focused on the companies’ business results. So far, 72 companies from the S&P 500 index have published reports, of which 65 percent have achieved higher profits than expected.