New York stocks: Consolidation after recent pullback – February 14, 2024 at 8:04 pm

NEW YORK (awp International) – Investors in the US stock market on Wednesday digested their losses from the previous day. On Tuesday they brought disappointing US inflation figures back down to earth. The data fueled concerns in the market that the expected monetary policy reversal by the US Federal Reserve could be a long time coming. However, stock markets have also been very strong lately.

The leading Dow Jones Industrial Average was up 0.09 percent at 38,307.73 two hours before the close on Wednesday. The benchmark S&P 500 rose 0.48 percent to 4,976.81 points. The tech-heavy Nasdaq 100 gained 0.64 percent to 17,713.19 points.

Crypto stocks gained strongly as Bitcoin continued its rally. Shares of Coinbase, Marathon Digital and Riot Platforms rose as much as 14 percent.

Shares of ride-hailing service and food delivery company Uber rose nearly twelve percent. Planned share buybacks provided impetus. Shares of rival Lyft also rose about 31 percent. The ride-hailing agent positively surprised market participants with its forecasts.

According to quarterly figures and an overview, shares of accommodation site Airbnb fell by about two percent. Shares in food maker Kraft Heinz also lost more than six percent after it released trading figures. Online broker Robinhood's papers went in the other direction with a plus twelve percent, according to quarterly figures./ajx/he

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