JohnLeeToday
2021-09-25
Higher lower?
Dow Jones, S&P 500 end with gains up after bumpy week, but Nike drags
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On the flip side, Facebook climbed 2% and Tesla rose 2.7%.\nThe S&P communication services sector climbed 0.7% and was the second-biggest sector gainer of the day after energy, up 0.8%.\nStocks bounced back from a sharp selloff at the start of the week tied in part to concerns over a default by China's Evergrande and its potential risk to global financial markets.\nOn Friday, Evergrande's electric car unit warned it faced an uncertain future unless it got a swift injection of cash, the clearest sign yet that the property developer's liquidity crisis is worsening in other parts of its business.\n\"You've had a good recovery from the lows\" this week, said Rick Meckler, partner, Cherry Lane Investments, a family investment office in New Vernon, New Jersey.\n\"With rates this low - even if they are going to move up slowly - and with the fiscal stimulus you'll probably see coming, I think investors still prefer stocks to any other asset class. Stocks remain in a weird way what investors see as the safe place.\"\nOn Wednesday, the Federal Reserve said it would reduce its monthly bond purchases \"soon\" and half of the Fed's policymakers projected borrowing costs will need to rise in 2022.\nThe Dow Jones Industrial Average rose 33.18 points, or 0.1%, to 34,798, the S&P 500 gained 6.5 points, or 0.15%, to 4,455.48 and the Nasdaq Composite dropped 4.55 points, or 0.03%, to 15,047.70.\nFor the week, the Dow was up 0.6%, the S&P 500 gained 0.5% and the Nasdaq was near flat.\nShares of cryptocurrency-related firms Coinbase Global, MicroStrategy Inc, Riot Blockchain and Marathon Patent Group fell after China's central bank put a ban on crypto trading and mining. \"It's been a very volatile week to say the least, so I think going into the last week of September the volatility is likely to continue especially with the end-of-the-quarter window dressing,\" said Peter Cardillo, chief market economist at Spartan Capital Securities in New York.\nInvestors are also looking for signs of progress on President Joe Biden's spending and budget bills.\nDeclining issues outnumbered advancing ones on the NYSE by a 1.50-to-1 ratio; on Nasdaq, a 1.40-to-1 ratio favored decliners.\nThe S&P 500 posted 21 new 52-week highs and 6 new lows; the Nasdaq Composite recorded 82 new highs and 73 new lows.\nVolume on US exchanges was 9.00 billion shares, compared with the 10.11 billion average for the full session over the last 20 trading days.","news_type":1},"isVote":1,"tweetType":1,"viewCount":284,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"CN","currentLanguage":"CN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":12,"xxTargetLangEnum":"ZH_CN"},"commentList":[],"isCommentEnd":true,"isTiger":false,"isWeiXinMini":false,"url":"/m/post/868021845"}
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