xi's moments
Home | Americas

US stocks mixed as Nasdaq falls again

Updated: 2021-11-24 06:39

NEW YORK - Wall Street stocks were mixed Tuesday with energy and financial shares advancing, while the tech-rich Nasdaq fell amid worries about higher interest rates.

Analysts cited lingering doubts over inflation as a headwind for stocks, along with valuation concerns after indices hit records earlier in the fall.

The yield on the 10-year US Treasury note continued to rise.

"The focus has been on interest rates," said Sam Stovall of CFRA Research. "Right now, investors are trying to decide when the Fed is most likely to start raising interest rates."

The Dow Jones Industrial Average ended up 0.5 percent at 35,813.80, while the broad-based S&P 500 added 0.2 percent at 4,690.70.

But the Nasdaq dropped 0.5 percent to 15,775.14, with Tesla, Facebook and Netflix all retreating.

Large banks such as JPMorgan Chase and Wells Fargo advanced more than two percent on expectations of higher interest rates.

Oil giants Chevron and ExxonMobil also picked up more than two percent as oil prices rallied despite President Joe Biden's announcement of a plan to release crude from the Strategic Petroleum Reserve in tandem with five other countries.

Best Buy plunged 12.3 percent despite reporting better-than-expected results as analysts expressed disappointment with the electronics retailer's outlook.

AFP

Global Edition
BACK TO THE TOP
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349