London, Tuesday, 26 April 2022
US Markets Summary
On Tuesday, US markets finished substantially lower as investors worried about economic growth and awaited results report. The Nasdaq Composite fell 4% to a new 52-week low, slipping deeper into bear territory and now trading at around 23% below its high.
The Dow Jones Industrial Average dropped over 800 points, while the S&P 500 fell 2.8 percent. The tech, consumer discretionary, and banking sectors were the hardest hit.
UPS was down 3% after a report showed quarterly earnings and revenue exceeded expectations but it shipped fewer packages than it did a year ago.
GE was down more than 11% after the company warned supply chain disruptions would pressure its business this year, and UPS was down 3% after a report showed quarterly earnings and revenue exceeded expectations but it shipped fewer packages than it did a year ago.
Tesla's stock also dropped more than 11% a day after Elon Musk, the company's CEO and major shareholder, announced the completion of a deal to buy Twitter.
U.S. Stock Market Indexes as at 4:00 p.m. ET
S&P 500: -120.92 (-2.81%) to 4,175.20
Nasdaq: -514.11 (-3.95%) to 12,490.74
Dow Jones: -810.01 (-2.38%) to 33,239.45
European Markets Summary
The benchmark DAX 30 fell more than 1% to close at a more than one-month low of about 13,750 on Tuesday, driven by defensive sectors such as consumer staples and healthcare.
A new coronavirus outbreak in China, as well as the Ukraine situation, are causing growth and inflation shocks around the world. A deteriorating global picture followed vigorous tightening by major central banks to control inflation, which is already at record highs.
On the corporate side, HSBC fell more than 5% after reporting a 27 percent drop in quarterly profit. AB Foods was down 5% after the business announced it would raise prices to deal with out-of-control inflation. In the meantime, Europe's regional Stoxx 600 stock index fell 0.9 percent to 441 points.
European Stock Market Indexes
STOXX Europe 600: -4 points, or 0.9%, to finish at 441.10 points
FTSE 100 in London: +5.65 points, or 0.08%, to 7,386
DAX 30 in Germany: -167 points, or 1.2%, to end the day at 13,756
CAC 40 in France: -34 points, or 0.54%, to close at 6,414
FTSE MIB 30 in Italy: -226 points, or 0.95%, to 23,681
IBEX 35 in Spain: worst performer of the day, -135 points, or 1.58%, to end the day at 8,439
Ten-year U.S. Treasury note: -5.4 bps to yield 2.7720%
U.S. Dollar Index (DXY): 102.34, +0.59 or +0.57% as on Apr 26, 2022 at 5:46 p.m. EDT
VIX volatility index: +6.50 (24.06%), 33.52 as on 26 Apr, 15:15 GMT-5
Crude Oil WTI (NYM $/bbl) Front Month:$101.71, + 3.17 or + 3.22% as on Apr 26, 2022 4:59 p.m. EDT
Brent Crude Oil Continuous Contract: $101.71 +3.17 or + 3.22% as on Apr 26, 2022 4:59 p.m. EDT
Gold: +5.88+0.31% at 1,905.58 an ounce as on April, 26 2022 at 18:02 NY Time
Silver: -0.18 -0.75% at $23.51 an ounce as on April, 26 2022 at 18:02 NY Time
Bitcoin: −2,101.50 (5.20%) at $ 38,337.70 as on 26 Apr, 22:00 UTC
Ethereum: −166.08 (5.52%) at $ 2,841.16 as on 26 Apr, 22:00 UTC
(Written and edited by: The Decision Maker)