The S&P 500 is at its lowest levels at the end of May. Microsoft and Nvidia give strength to Nasdaq
North American stock markets ended the day mixed, as investors prepare for a week full of Big Tech accounts and monitor developments in the conflict in the Middle East.
North American stock markets closed mixed on Monday, as investors braced for a week of reckoning from tech giants.
The S&P 500 index, a benchmark for the region, lost 0.17% to… 4,217.04 Point, the lowest value since the end of May, the Dow Jones Industrial Average fell 0.58 % to 32,936.41 points.
The Nasdaq Composite was the only one to close with gains, rising 0.27% to… 13,018.33 points. Among the major moves, Microsoft rose 0.81% to $329.32, and Nvidia grew 3.84% to $429.75, thanks to news that it is using Arm technology to develop “chips” that will challenge rival Intel.
The stock market has been under pressure due to geopolitical uncertainty due to the war between Israel and the Islamist Hamas movement, as well as restrictive monetary policy and deteriorating sovereign debt yields, which… Make bonds more attractive.
The full impact of the most aggressive monetary policy campaign in decades has yet to be felt and will continue to be a drag on financial markets next year, JPMorgan Chase’s Marko Kolanovic told Bloomberg.
The week will be crucial in terms of the results of so-called “Big Tech”, as Microsoft and Alphabet, the owner of Facebook, Instagram and WhatsApp, present their third-quarter accounts on Tuesday. On Wednesday it’s Meta’s turn and the day after Amazon.
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