Analyst Views
U.S. bourses declined significantly in Wednesday's trading after bowing to negative sentiments due to the latest minutes from the Federal Reserve's December meeting which signalled that policymakers are concerned about inflation broadening, which could accelerate planned rate hikes this year. The Dow Jones Industrial Average, which hit a record earlier, closed down 392 points or 1%, while the S&P 500 and Nasdaq Composite dropped 1.9% and 3.3%, respectively.
| Ticker |
Security |
Last |
Change |
Change % |
| I:DJI |
DOW JONES AVERAGES |
36407.11 |
-392.54 |
-1.07% |
| SP500 |
S&P 500 |
4700.58 |
-92.96 |
-1.94% |
| I:COMP |
NASDAQ COMPOSITE INDEX |
15100.174159 |
-522.54 |
-3.34% |
Tech Stocks, Investroes shyed away from tech stock, pressing the sell buttons. Other tech giants fell including Apple, Facebook and Google, which posted its largest percentage drop since March.
| Ticker |
Security |
Last |
Change |
Change % |
| AAPL |
APPLE INC. |
174.92 |
-4.78 |
-2.66% |
| FB |
META PLATFORMS INC. |
324.17 |
-12.36 |
-3.67% |
| GOOGL |
ALPHABET INC. |
2,755.50 |
-132.49 |
-4.59% |
Commodities, Oil also rose over 1% to $77.85 per barrel, giving ExxonMobil and Chevron gains.
| Ticker |
Security |
Last |
Change |
Change % |
| USO |
UNITED STATES OIL FUND L.P. |
55.43 |
-0.16 |
-0.29% |
| XOM |
EXXON MOBIL CORP. |
66.75 |
+0.82 |
+1.24% |
| CVX |
CHEVRON CORP. |
122.22 |
+0.79 |
+0.65% |
Labour Hire on the Upside, The payroll processing firm ADP reported the creation of 807,000 private-sector jobs, more than double the 400,000 estimate. Also, the final Markit services PMI for December came in at a reading of 57.
Automakers, remained in focus after General Motors CEO Mary Barra unveiled the electric Chevy Silverado at the Consumer Electronics Show.
| Ticker |
Security |
Last |
Change |
Change % |
| GM |
GENERAL MOTORS CO. |
62.74 |
-3.00 |
-4.56% |
| F |
FORD MOTOR CO. |
23.65 |
-0.66 |
-2.72% |
| TSLA |
TESLA INC. |
1,088.12 |
-61.47 |
-5.35% |
GM and Ford are both racing to lead the EV transformation among traditional automakers. On Tuesday, Ford announced it will double the production of its electric F-150 truck. Tesla shares slipped.
Retail Market, Walmart is stepping up its home delivery push with plans to expand to 30 million homes this year. It also plans to hire 3,000 drivers. The move takes aim at retail giant Amazon. The retailer also disclosed it will work with GM and Brightdrop to develop a fleet of electric delivery trucks.
| Ticker |
Security |
Last |
Change |
Change % |
| WMT |
WALMART INC. |
143.92 |
+1.92 |
+1.35% |
In the European market, the market opened with a slump across board in response to sell-off in the US market and FED minutes, London's FTSE slide by 0.92% to 7,447.69 while Germany's DAX slip by 1.32% to 16,057.29 and France's CAC also followed the same suit sliding by 1.36% to 7,276.37.
Asian Market, The Asian market trading was mixed, the market opened with Japanese Nikkei sliding by 2.88% to 28,487.87, Hong Kong's Hang Seng jumped by 0.72% to 23,072.85 while China Shanghai dipped by 0.25% to 3,586.08
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