Wall Street closes with mixed results under pressure from big technology


indexes S&P 500 and Nasdaq ended lower on Monday as investors continued to assess recent quarterly results from amazon Y Meta Platformsowner of Facebook, while Peloton rose after knowing the interest of potential buyers, including Amazon itself.

The S&P 500 lost 16.66 points, or 0.37%, to 4,483.87 units, while the nasdaq it fell 82.34 points, or 0.58%, to 14,015.67 units. The Dow Jones Industrial Average it rose 1.39 points to 35,091.13 units, almost unchanged.

Amazon.com Inc. it rose for much of the session, after its market capitalization grew by about $190 billion on Friday, thanks to its extraordinary results.

Meta Platforms fell, deepening losses after its gloomy forecasts last week caused a record plunge in the social media company’s stock value.

Goal was one of the companies that weighed more in the S&P 500while Nvidia raised the index more than any other.

Peloton Interactive Inc. rose after learning that amazon Y Nike they are exploring possible buyout offers by the exercise bike manufacturer.

The S&P 500 it continues to lose more than 5% so far in 2022, with investors worried that the US Federal Reserve will raise interest rates faster than expected.

“Buying the dip was a foregone conclusion until 2022. There are no more guaranteed buys in the dip,” said Jake Dolllarhide, CEO of Longbow Asset Management. “We are seeing corrections in the indices and individual stocks on a daily and weekly basis.”

kg



Leave a Comment