May 26, 2022

US stock market = Dow rise, S & P falls, bank stocks recover

US stock market

The US stock market has been volatile, with 30 Dow Jones Industrial Averages rising, while 500 S & P stocks have fallen. Bank stocks that were being sold have recovered.

The S & P Bank Index, which had hit a 13-month low the day before, rose 1.18% after the US index 10-year bond yield hit a high of 2.73% for the first time in three years. It is 10.8% cheaper since the beginning of the year.

Bank giants are rising across the board. JP Morgan Chase rose 1.8%, Bank of America 0.7%, Citigroup 1.7% and Goldman Sachs 2.3%.

“We are entering a very long and significant period of value stocks outperforming growth stocks, just a cyclical adjustment,” said David Bernsen, Chief Investment Officer of the Bernsen Group. It’s not a long-term story. ”

The Russell 1000 Value Index rose 0.51%, while the Russell 1000 Growth Index fell 1.09%.

UBS Bank analyst Erica Najarian said if the Federal Reserve would “soft land” the US economy, slowing growth but positive growth, bank stocks would be rated ” “It’s sold too much,” he said, but if a sharp recession is imminent, holding bank stocks may become less attractive and may lead to reflexive bank stock sales.

Next week, the major US banks will enter the first-quarter earnings announcement season. Profit is expected to decline significantly in the same period of the previous year due to exceptionally strong trading performance.

The combined trading volume of the US exchange was about 10.37 billion shares.

In the week, S & P fell 1.16%, the Dow Jones Industrial Average fell 0.28%, and the Nasdaq Composite fell 3.86%. There is widespread belief that a rapid rate hike will lead to a recession.

On the 8th, Tesla, NVIDIA, and the alphabet were 1.9-4.5% cheaper. Higher US bond yields weighed on the rise in US bond yields, and large-cap stocks widened this week’s decline.

The NYSE FANG + Index, which consists of large technology-related stocks such as and Apple, is down 1.76%. The Philadelphia Semiconductor (SOX) index has also dropped 2.42%.

As for individual stocks, US online trading platform Robinhood Markets is down 6.88%. Goldman Sachs has lowered its investment decision. Meanwhile, Kroger, a major US supermarket chain whose investment decision has been raised, rose 2.99%.

On the New York Stock Exchange, the number of falling stocks exceeded the number of rising stocks by a ratio of 1.20: 1. Even in NASDAQ, the number of stocks that dropped by 1.66 to 1 was large.

Closed price% compared to the previous day Open price High price Low price code

Dow Jones Industrial Average 34721.12 +137.55 +0.40 34569.2 34908. 34470.

Robert Warner is a journalism graduate with keen interest in covering business news – specifically startups. He has as a keen eye for technologies and has predicted quite a few successful startups over the last couple of years. His goal with this website is to report accurately on all kinds of stock news, and have a great deal of passion for technical and active reporting. Robert is diligent and proactive when it comes to news reporting.