U.S. stock market downward pressure remains large
2022-09-28 11:00uSMART

Major U.S. stock indexes closed mixed on Tuesday U.S. time, with the Nasdaq shaking off a losing streak and the S&P 500 closing at its lowest level in nearly two years, its longest losing streak since February 2020. The Dow Jones Industrial Average closed down 125.82 points or 0.43% at 29,134.99. The S&P 500 closed down 0.21% at 3,647.29; The Nasdaq closed 0.25% higher at 10,829.50



US Markets closed lower for the fifth consecutive session, with the S&P 500 touching a two-year low

EU Markets continued falling, with the pound and bond markets reacting to UK’s fiscal policy

Asia Markets were mixed, while China’s industrial profits for January to August retreated 2.1% YoY



Gold prices rebounded from a 2.5 year low, trading above $1,620/oz at time of writing as the rally in the dollar paused     

WTI Crude Oil recovered from a nine-month low due to supply curbs in the Gulf of Mexico and a softer dollar



Norwegian Cruise Line(NCLH.US) and Royal Caribbean(RCL.US) rose 4% following Canada’s decision to ease COVID-19 restrictions starting October

Moderna(MRNA.US) climbed 2% after the Food and Drug Administration approved five additional batches of COVID booster shots

Keurig Dr Pepper(KDP.US) tumbled 3.5% after Goldman Sachs downgraded it from buy to neutral due to rising inflation concerns

Hertz (HTZ.US)jumped 4.4% having announced its partnership with BP’s electrical vehicle charging unit



Today’s Earnings:

  • Paychex (PAYX.US)
  • Vail Resorts(MTN.US)


Economic Calendar (29 September 2022)

  • Singapore PPI YoY (August)
  • Euro Area Consumer Confidence (September)



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