Wall Street Slips in Quiet Post-Holiday Trading
Login

Wall Street Slips in Quiet Post-Holiday Trading

Estimated Reading Time: 3 minutes
Article Rating:
Based on 1 vote
Login to rate this article.

Azeez Mustapha

Updated:

Wall Street is listless on Tuesday, coming back from a three-day weekend, with markets hovering near their record highs.

The S&P 500 remained mostly unchanged in afternoon trading, sitting just below its record high set a week ago. As of 1:04 p.m. Eastern time, the Dow Jones Industrial Average had fallen by 238 points, or 0.6%, while the Nasdaq composite was up 0.5% after reaching its latest all-time high.

U.S. Cellular saw a 5.9% increase after T-Mobile announced plans to purchase nearly all of the company. The deal is valued at $4.4 billion, including up to $2 billion in assumed debt.

Shares of T-Mobile US rose by 0.5%.GameStop surged 26.6% following the announcement that it had raised $933.4 million through a previously disclosed stock sale.

The company, whose stock price often moves more on investor enthusiasm than on changes to its profit outlook, stated it could use the funds for acquisitions, investments, or other general corporate purposes.
Wall Street Slips in Quiet Post-Holiday Trading Nvidia surged by an additional 6.9%, bringing its year-to-date gain to an impressive 129%. The surge follows its recent blowout profit report from last week, which alleviated concerns that the frenzy surrounding artificial intelligence technology on Wall Street had pushed prices to unsustainable levels.

The yield on the 10-year Treasury increased to 4.52% from 4.47% at the end of Friday. It reversed an earlier, slight decline following a report indicating that confidence among U.S. consumers is strengthening, contrary to economists’ expectations of a decline.

Robust spending by American consumers has been a key factor in the economy’s resilience, thus far defying recession forecasts.

However, signs of strain are emerging, particularly among lower-income households grappling with persistent inflation pressures.

Throughout the upcoming week, a series of reports are expected that could influence the Federal Reserve’s outlook, extending beyond Tuesday’s consumer confidence data.

The highlight of the week is expected to be on Friday when the government releases its latest monthly report on household spending and incomes earned, along with the preferred inflation measure by the Federal Reserve for April.

In global stock markets, indexes experienced modest declines across much of Europe and Asia. London’s FTSE 100 slipped 0.8%, while Tokyo’s Nikkei 225 edged down by 0.1%.

To have the best trading experience with us, open an account at Longhorn.

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$250 Min Deposit
9.8
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$50 Min Deposit
9
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9

Learn to Trade

Never Miss A Trade Again

step 1
Signal Notification

Real-time signal notifications whenever a signal is opened, closes or Updated

step 2
Get Alerts

Immediate alerts to your email and mobile phone.

step 3
Entry Price Levels

Entry price level for every signal Just choose one of our Top Brokers in the list above to get all this free.

Share with other traders!

telegram
Telegram
forex
Forex
crypto
Crypto
algo
Algo
news
News