Stock Market News Today: Dow Tumbles 500 Points on New Economic Data

Hargreaves Lansdown is not responsible for an article’s content and its accuracy. It "remains to be seen how much further this downward move can go, and whether the bulls will step in once again at these levels," wrote City Index. Shares of many of America’s largest banks are tumbling again on Tuesday after a period of outperformance that saw Goldman Sachs Group spce stock price claw back practically all of its losses year-to-date. Oil tallies a third consecutive loss on Tuesday, as worries about more aggressive monetary tightening by the Federal Reserve rippled across markets. After ending 5 points higher in a range-bound day, headline equity index Nifty on Monday formed a hammer-like mildly bullish pattern on the daily chart.

According to various media reports, the company may launch its stake sale on Monday, December 12. If Sula Vineyards lists as per plans, the company would be India’s first pure-play wine manufacturer to make a debut on Dalal Street. According to the draft papers, Concord Biotech’s IPO is entirely an offer for sale of of 2,09,25,652 equity shares by Helix Investment Holdings Pte Limited, backed by private equity firm Quadria Capital. US services industry activity unexpectedly picked up in November, with employment rebounding, offering more evidence of underlying momentum in the economy as it braces for an anticipated recession next year. Market likely to consolidate ahead of RBI policy, Europe Q3 GDP and will track oil prices, say exper… Microsoft faltered 1.2% Monday, as shares continue to hold above the 50-day line. Now is an important time to read IBD’s The Big Picture column amid the ongoing stock market volatility.

You got 30 Day’s Trial of

Dow Jones tech leaders Apple and Microsoft were mixed after today’s stock market open. Meanwhile, JPMorgan Chase was upgraded from underweight to overweight at Morgan Stanley, a so-called double upgrade, sparking an advance of more than 1% in morning trade. DotBig The Dow Jones Industrial Average fell 150 points Tuesday morning, as the major stock indexes threatened to add to losses from Monday’s stock market sell-off. Dow Jones financial giant JPMorgan jumped after being double upgraded ahead of the market open.

  • AutoZone reported earnings and revenue growth to start fiscal year 2023, even as used car prices are beginning to come…
  • If you decide to invest, read our important investment notes first and remember that investments can go up and down in value, so you could get back less than you put in.
  • AutoZone reported earnings and revenue growth to start fiscal year…
  • The Dow fell almost 500 points as traders flinched at new data that made a case for the Fed to stay hawkish.

Meanwhile, data from the Commerce Department showed that factory orders were up 1% in October, beating expectations for an increase of 0.7%. News Corp is a global, DotBig diversified media and information services company focused on creating and distributing authoritative and engaging content and other products and services.

Rates & Bonds

The 30-share Sensex ended 34 points lower at 62,835, while its broader peer Nifty 50 ended at 18,700 level. India’s sugar output is likely to fall 7% this year as erratic weather conditions have cut cane yields, which could dampen exports from the world’s biggest producer of the sweetener, farmers, millers and traders said. Natco Pharma on Monday said it has received a favourable verdict from Delhi High Court in a patent infringement case. Hungary vetoed an 18 billion euro ($19 stock market news today bln) loan to Ukraine from the European Union on Tuesday as its row with the bloc over undermining democracy rumbled on and the other 26 member states delayed a decision on releasing billions of aid to Budapest. Screen for heightened risk individual and entities globally to help uncover hidden risks in business relationships and human networks. The National Stock Exchange has added GNFC, and retained Delta Corp and Indiabulls Housing Finance, on its F&O ban list for December 6.

Our website offers information about investing and saving, but not personal advice. If you’re not sure which investments are right for you, please request advice, for example from our financial spce advisers. If you decide to invest, read our important investment notes first and remember that investments can go up and down in value, so you could get back less than you put in.

stock market news today

Further Covid easing in China, including moves to eliminate negative testing requirements to travel on public transport in the capital city of Beijing, failed to support stocks in the Asia session as markets reacted to last night’s slump on Wall Street. He also noted that a ‘mild to hard" recession could hit the U.S. economy next year, even as he touted the strength of consumer spending, warning that "inflation could erode all that." JPMorgan CEO Jamie Dimon told CNBC at the Business Roundtable event in New York Tuesday that the Fed is likely to hold its terminal rate at 5% for between three to six months, but noted that it might not be long enough to tame inflation. Receive full access to our market insights, commentary, newsletters, breaking news alerts, and more. Sign up for our newsletter to get the inside scoop on what traders are talking about — delivered daily to your inbox. The Dow fell almost 500 points as traders flinched at new data that made a case for the Fed to stay hawkish. Sign Up NowGet this delivered to your inbox, and more info about our products and services.

Among Dow Jones stocks, Apple shares declined 0.8% Monday, but are still clinging to their 50-day line. AutoZone and GitLab were key earnings reporters Tuesday morning. AZO shares declined 3% despite better-than-expected results for its fiscal first quarter, while GitLab shares soared more than 12% in morning trade. Intraday Data provided by FACTSET and subject to terms of use. Historical and current end-of-day data provided by FACTSET. Real-time last sale data for U.S. stock quotes reflect trades reported through Nasdaq only. Intraday data delayed at least 15 minutes or per exchange requirements.

Apple Adds 700 New Price Points to App Store

Morgan Stanley on Tuesday reduced its employee count by 2% or 1,600 of the bank’s 81,567 employees, according to reports. The move comes after Morgan Stanley hired 3,181 people between June 30 and Sept. 30, according to disclosures from the bank.

Latest Markets News

With inflation still sticky, and global headwinds accelerating, JPMorgan CEO Jamie Dimon now sees a greater chance of a U.S. recession. Stablecoin issuer Circle canceled plans to go public via SPAC merger. The company, which oversee the USDC stablecoin, said the decision was not impacted by the FTX disaster. Tesla stock fell 7% after reports DotBig the EV maker may scale back production at a factory in Shanghai. It indicates a way to close an interaction, or dismiss a notification. Here’s what experts say, how much to put in, and what to watch for. The pledge is in response to a shareholder proposal asking the company to reduce dependence on single-use plastic packaging.

The Nifty futures were trading around 18,746 levels on the Singaporean exchange. As per the pivot charts, the key support level for the Nifty is placed at 18,621, followed by 18,589 & 18,536. If the index moves up, the key resistance levels to watch out for are 18,726 followed by 18,758 and 18,811. The market is expected to open in the red as trends in the SGX Nifty indicate a negative opening for the broader index in India with a loss of 63 points. According toIBD MarketSmith pattern recognition, in the wake of Monday’s 1.5% loss.

From a real estate perspective, 190bps of repo rate hike so far has already been transmitted into a 105bps of rise in the MCLR rates. The mortgage rates have increased in line with the MCLR and the cumulative growth stock market news today in residential sales in the last six months have understandably begun showing some signs of slowing. The affordability of the home buyers has also reduced by 10% since the beginning of this interest rate hike cycle.

Tags: No tags

Add a Comment

Your email address will not be published. Required fields are marked *