The main stock indices of the US market are trading at a loss this Wednesday. Wall Street it retreats moderately after the publication of mixed data from the US economy and amid an advance in US Treasury yields.
The market benchmark index, the S&P 500 out of 500 components, it loses -0.22% at the level of 4,680.61 units. The Dow Jones, made up of the shares of 30 industrial giants, moves -0.27% to 35,718.84 points. The Nasdaq, with a high technological component, yields -0.34% to 15,720.86 points.
“Concerns about inflation and supply chain failures are the focus of attention. The latest victim is The Gap, whose stock loses more than 22% after modifying its earnings estimate for the year downwards, before global supply problems, “explained the firm eToro.
The United States economy grew 2.1% in the third quarter, in the second estimate of the Department of Commerce. This means a slowdown compared to the previous quarter due to the Covid-19. Additionally, durable goods orders fell for the second month in a row in October.
On the other hand, US consumer spending rose more than expected in October, as households bought without showing signs of containment yet due to high inflation. Despite improving economic expectations, the data also contributes to the bet on rate hikes.
Contrary to the stock market movement, Treasury yields continue to approach their highs this year.
Reference-www.eleconomista.com.mx