S&P 500 ends down; Apple dips ahead of quarterly report
Apple led a tech-driven pullback as investors awaited earnings and watched oil prices and election uncertainty for market direction.
- Wall Street's main indexes opened higher on Monday as technology and AI-related stocks steadied following October's decline, while crude oil prices dropped sharply amid growing hopes of a US-Iran peace deal.
- The price for Brent crude fell 7.4 per cent to $105.03, providing relief to fuel-heavy companies as investors sought stability after months of market turbulence.
- Alphabet rose 1.3 per cent, recovering from a more than 12 per cent drop Thursday, while Nvidia gained 1.1 per cent following a 4.2 per cent slide on Friday.
- Growth for U.S. manufacturing exceeded economist expectations last month, while a survey by the Institute for Supply Management showed inflation rising at a slower pace.
- Investors remain cautious as worries grow that Big Tech's $315 billion debt binge into AI data centers may not yield sufficient productivity or profit to justify the spending.
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92 Articles
(New York = Yonhap News) Correspondent Kim Yeon-sook = Major indices of the New York stock market closed mixed on the 2nd (local time).
Although international oil prices plummeted on expectations of negotiations between the U.S. and Iran, the New York stock market closed mixed. As technology stocks, including semiconductors, declined, the Nasdaq and S&P 500 indices gave back their early gains. On the 2nd (local time), the Dow Jones 30 Industrial Average closed at 51,983.98 on the New York Stock Exchange, up 213.67 points (0.41%) from the previous close. S&P
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S&P 500 Closes Lower as Tech Stocks Slide Despite Oil Price Plunge on U.S.-Iran Peace Hopes
Wall Street ended Monday's session mixed as falling oil prices raised hopes of easing inflation, but weakness in technology shares weighed on the S&P 500 ... The post S&P 500 Closes Lower as Tech Stocks Slide Despite Oil Price Plunge on U.S.-Iran Peace Hopes first appeared on [your]NEWS.
Mixed trends prevailed today on the New York Stock Exchange, against the backdrop of the significant decline in oil prices and the strong pressure on shares of companies in the technology sector. In particular, the Dow Jones industrial average closed with a rise of 213.67 points (+0.41%), at 51,983.98 points. The Nasdaq index, which is dominated by technology company stocks, closed with a fall of 272.68 points (-1.07%), at 25,164.31 points. The …
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