{"id":13225,"date":"2022-05-13T01:56:08","date_gmt":"2022-05-13T01:56:08","guid":{"rendered":"https:\/\/harchi90.com\/dow-extends-losing-streak-as-fed-inflation-jitters-bite-by-investing-com\/"},"modified":"2022-05-13T01:56:08","modified_gmt":"2022-05-13T01:56:08","slug":"dow-extends-losing-streak-as-fed-inflation-jitters-bite-by-investing-com","status":"publish","type":"post","link":"https:\/\/harchi90.com\/dow-extends-losing-streak-as-fed-inflation-jitters-bite-by-investing-com\/","title":{"rendered":"Dow Extends Losing Streak as Fed, Inflation Jitters Bite By Investing.com"},"content":{"rendered":"
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\n\u00a9 Reuters. <\/span>
\n\n<\/div>\n

By Yasin Ebrahim<\/p>\n

Investing.com – The Dow extended its losing streak Thursday as an intraday reprieve was quickly reversed by selling pressure amid ongoing worries the Federal Reserve’s plan to curb inflation could tip the economy into recession. <\/p>\n

The fell 0.3%, or 103 points, to close in the red of the sixth-straight day. The slipped 0.05%, and the rose 0.1%.<\/p>\n

Tech closed above its lows of the session, as dip-buyers appeared to test waters following an intense selling intraday, but the appetite for big bullish bets on the sector remains sidelined by fears that elevated inflation will keep the Federal Reserve on a hawkish.<\/p>\n

Apple (NASDAQ :), Microsoft (NASDAQ \ud83d\ude42 and Alphabet (NASDAQ \ud83d\ude42 led the decline in big tech. Semiconductor stocks helped steady tech, however, as AMD (NASDAQ \ud83d\ude42 and NVIDIA (NASDAQ \ud83d\ude42 cut the bulk of their losses. <\/p>\n

for final demand increased 0.5% last month, in line with economists’ forecasts, and rose 11% for the through November, exceeding expectations for a 10.7% increase.<\/p>\n

\u201cNothing in yesterday’s or today’s report suggests the Committee will deviate from the implied increase of 50bps on June 15, although some are beginning to reconsider the possibility of 75bp increase,\u201d Stifel said in a note.<\/p>\n

Financials also participated in the broader market selloff, under pressure from banking stocks as Treasury yields continued to lose ground on jitters about the global growth outlook.<\/p>\n

Signature Bank <\/span><\/span> (NASDAQ :), Citigroup <\/span><\/span> (NYSE \ud83d\ude42 and Synchrony Financial (NYSE \ud83d\ude42 were among the biggest decliners, with the latter down more than 6%.<\/p>\n

Wolf Research downgraded Synchrony Financial to underperform from peer perform, citing a deteriorating credit outlook.<\/p>\n

Energy stocks pared losses to end just above the flatline following volatile action in oil prices as investors continue to weigh up the risk of a weaker demand backdrop against potential supply shortages.<\/p>\n

The earnings front, meanwhile, served up mixed quarterly results.<\/p>\n

WeWork <\/span><\/span> (NYSE \ud83d\ude42 narrowed its losses in the as a rebound in demand for office space following the pandemic-induced slump, sent its shares more than 10% higher.<\/p>\n

Walt Disney <\/span><\/span> (NYSE :), meanwhile, reported that missed on both the top and bottom lines, but streaming was a bright spot for the company as it topped 200 million subscribers. The stock ended the day down less than 1%.<\/p>\n

Beyond Meat (NASDAQ \ud83d\ude42 fell more than 4% after a wider loss than expected as rising costs dented margins.<\/p>\n

\u201cWith increasing competitive pressures, challenges in scaling the business, and intermediate-term capital needs, we believe investors should stay on the sidelines,\u201d Oppenheimer said in a note. <\/p>\n

Rivian Automotive <\/span><\/span> (NASDAQ \ud83d\ude42 jumped nearly 18% despite reporting quarterly results.<\/p>\n

“This quarter [for Rivian] was not without issues, but it does finally appear that Rivian is on the right track with strong demand and a supply chain that should produce 25k deliveries this year reaffirming its guidance, \u201dWedbush said in a note.<\/p>\n

The latest dip in markets has many debating whether stocks are close to reaching a bottom.<\/p>\n

Some on Wall Street have earmarked the 30-month moving average near 3,800 for the S&P 500 as the level that could attract dip buyers, but remain wary of suggesting that a bottom is close.<\/p>\n

“[W]and still believe the US equity markets are closing in on a significant low for the year, but again this process may take more time and see more damage done before that materializes, \u201dJanney Montgomery Scott said.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

\u00a9 Reuters. By Yasin Ebrahim Investing.com – The Dow extended its losing streak Thursday as an intraday reprieve was quickly reversed by selling pressure amid ongoing worries the Federal Reserve’s plan to curb inflation could tip the economy into recession. The fell 0.3%, or 103 points, to close in the red of the sixth-straight day. …<\/p>\n

Dow Extends Losing Streak as Fed, Inflation Jitters Bite By Investing.com<\/span> Read More »<\/a><\/p>\n","protected":false},"author":1,"featured_media":13226,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"default","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","spay_email":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[8],"tags":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/i-invdn-com.investing.com\/news\/LYNXNPEB670Y5_L.jpg?ssl=1","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"fifu_image_url":"https:\/\/i-invdn-com.investing.com\/news\/LYNXNPEB670Y5_L.jpg","_links":{"self":[{"href":"https:\/\/harchi90.com\/wp-json\/wp\/v2\/posts\/13225"}],"collection":[{"href":"https:\/\/harchi90.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/harchi90.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/harchi90.com\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/harchi90.com\/wp-json\/wp\/v2\/comments?post=13225"}],"version-history":[{"count":0,"href":"https:\/\/harchi90.com\/wp-json\/wp\/v2\/posts\/13225\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/harchi90.com\/wp-json\/wp\/v2\/media\/13226"}],"wp:attachment":[{"href":"https:\/\/harchi90.com\/wp-json\/wp\/v2\/media?parent=13225"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/harchi90.com\/wp-json\/wp\/v2\/categories?post=13225"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/harchi90.com\/wp-json\/wp\/v2\/tags?post=13225"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}