Tuesday, May 17, 2022

U.S. Indices Marked Record High In November, Slightly Retreated On Monday

The primary U.S. stock indices ended trading in negative territory on Monday, November 30, rectifying the development observed a week earlier.


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The November dynamics of U.S. indicators in general were optimistic, with the Dow growing by 11.84 percent for the month, which is the highest rise in the indicator since January 1987, and the S&P 500 and Nasdaq increased by 10.75 percent and 11.8 percent respectively last month.


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Secondary statistics released yesterday showed that US pending home sales increased by 20.2 percent y/y in October, while estimates were of +20.5 percent y/y. The Dallas Federal Reserve Industry Business Activity Index dropped from 19.8 points in October to 12 points in November.

Meanwhile, the former Fed Chair Janet Yellen has been formally nominated by Joe Biden to the post of Treasury Secretary. The news was included in the scheduled appointments table released by the Transition Committee.

The blue-chip Dow Jones Industrial Average fell 0.91 percent to 29,638 points at the end of the day The S&P 500 broad-based index dropped 0.46 percent to 3,621 points, and the high-tech NASDAQ index fell 0.07 percent to close at 12,198 points.

At the end of trading on the NYMEX, the price of light crude oil futures for January delivery dropped by $0.19 to $ 45.34 per barrel. At the end of trading on COMEX, the price of gold futures for January delivery, dropped by $6.80 to $1,778.0 per troy ounce. In exchange, the yield on 10-year Treasury bonds was 0.84 percent.

Moderna Inc’s (MRNA) market capitalization increased by 20.24 percent to $152.74 due to news that it will submit a request for permission to the US FDA and European Medicines Agency (EMA) to use its vaccine developed for COVID-19.

At the same time, IHS Markit’s (INFO) stock “recovered” 7.43 percent to $99.46 amid reports that its rival S&P Global agreed to acquire the company for around $44 billion in stock, including $4.8 billion in debt. In exchange, S&P Global (SPGI) shares closed up 2.99 percent to $351.78.

For Apple (AAPL), the session was successful, as shares of iPhone maker rose by 2.11 percent to $119.05.

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