Wall Street closed the last session of the week in negative territory, with technology standing next to losses, weighed by the latest data on US consumer confidence, which fell to its lowest level in six months.
The Dow Jones Industrial Average ended the session slightly lower, down 0.02% to 33300.62 points. On the other hand, the Standard & Poor’s 500 Index (S&P 500) fell by 0.16%, to 4,124.08 points.
The Nasdaq Technology Composite fell 0.35% 12284.74 points.
Tesla shares fell 2.97% on the same day Elon Musk announced the name of the new Twitter CEO Linda Yaccarino.
On the other hand, Apple shares fell 0.54%, Microsoft 0.37%, and Amazon 1.71%. The global “benchmark” technology sector declined 0.9%.
US consumer confidence fell in May to its lowest level in November.
In addition, investors remain vigilant and concerned about the indebtedness of the United States, at a time when it is necessary to raise the country’s debt ceiling, under the penalty of entering the country into a state of “default” on June 1st.
The Congressional Budget Office confirmed on Friday that the United States faces a “significant risk” of “default” in the first two weeks of June, if there is no increase in the debt limit.
Investors were still digesting Michelle Bowman’s latest pronouncement. The US Federal Reserve (Fed) member said that the central bank will likely need to raise interest rates more if inflation remains high.
On the earnings front, shares of First Solar rose 26.48% after the solar panel maker acquired Sweden’s Evolar AB.
Meanwhile, News Corp gained 8.48% after the media group reported fiscal third-quarter results that beat market estimates.
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