The three main Wall Street indexes ended Tuesday’s trading with losses. Stock market benchmarks fell in a market that continues to cautiously assess the risks to the economy from the prolonged U.S. government shutdown.
The Dow Jones Industrial Average, composed of the shares of 30 giants, lost 0.20% to end at 46,602.98 points. The S&P 500, composed of the most valuable companies, fell 0.38% to 6,714.59 units. The Nasdaq Composite technology index fell 0.67% to 22,788.36.
The U.S. federal government shutdown entered its seventh day on Tuesday. Yesterday, the Senate rejected another spending proposal, bringing the total to five. The shutdown leaves investors without key references, such as the non-farm payroll report.
In addition to the government shutdown, corrections in two major technology stocks put pressure on the indices. Tesla (-4.50%) fell after launching a cheaper version of its Model Y on Tuesday, and Oracle (-2.37%) declined due to doubts about its GPU business.
“Oracle started October on the wrong foot due to a weak report on its chip leasing operations with Nvidia. The information adds fuel to the debates about an AI bubble,” said Andrés Espinosa, business development manager at Excent Capital.
Tomorrow, the minutes from the Federal Reserve’s most recent monetary policy meeting are expected to be released. Today, central bank governor Stephen Miran stated that the calm bond market is a sign of support for an aggressive interest rate cut.
Seven of the 11 main sectors of the S&P 500 closed the day with gains, led by consumer goods. Among the declines, discretionary consumer goods companies were hit hardest, affected by Tesla. In the Dow Jones index, Nike (-3.18%) led the losses.
Fuente: Yahoo!Noticias
