Analytical Reviews

Bekommen Sie die neuesten wirtschaftlichen Nachrichten von ForexMart, einschließlich Updates aus Finanzmarkt, Zentralbankpolitiksankündigungen, finanzielle Indikatoren und andere relevante Nachrichten, die die Branche beeinflussen können.

Disclaimer:  Information provided here to retail and professional clients does not contain and should not be construed as containing investment advice or an investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance.

Wall Street fell after the publication of weak economic data


February, 28 2024
watermark Economic news

On Wednesday, the US stock market showed a decline as investors continue to analyze corporate financial reports and disappointing data on the growth of the US economy.


Thus, the Dow Jones Industrial Average decreased by 0.5% to 38,875.80, the S&P 500 fell by 0.3% to 5,069.02, and the NASDAQ Composite fell by 0.4% to 15,958.23 points.


Investors are still worried about the possibility of the US Federal Reserve maintaining a high interest rate for a long time. This week, the focus is on a number of key economic indicators that may influence the Fed's future actions.


Recently published data showed that the US economy showed strong growth in the fourth quarter due to high consumer spending, but the beginning of the new year seems to be characterized by a slight slowdown. According to the data, US GDP grew by 3.2% per annum last quarter, which is slightly lower than the previous figure of 3.3% and lower than the growth of 4.9% in the previous quarter.


However, the most anticipated event of the week will be tomorrow's publication of data on the PCE price index, which is the Fed's preferred inflation indicator and is likely to have an impact on interest rate forecasts.


Fed members are also expected to speak in the coming days, after several officials confirmed that the bank is in no hurry to change monetary policy.


Investors are also evaluating the profit data for the fourth quarter. For example, shares of TJX Companies fell slightly by 0.2% after the retailer reported sales growth in the fourth quarter, but presented soft forecasts for the future.


After the close of trading, Salesforce will present its quarterly figures. Shares of Beyond Meat Inc rose by more than 55% due to strong quarterly profit figures and a forecast for an increase in margins.


E-commerce site eBay grew by 6% due to exceeding profit expectations, while Ambarella increased by 8% due to less expected losses.


On the other hand, shares of online dating company Bumble fell 10% due to weak revenue forecasts, and Urban Outfitters lost 8% due to disappointing results.


hinterlassen

ForexMart is authorized and regulated in various jurisdictions.

(Reg No.23071, IBC 2015) with a registered office at Shamrock Lodge, Murray Road, Kingstown, Saint Vincent and the Grenadines

Restricted Regions: the United States of America, North Korea, Sudan, Syria and some other regions.


© 2015-2024 Tradomart SV Ltd.
Top Top
Risk Warning:
Foreign exchange is highly speculative and complex in nature, and may not be suitable for all investors. Forex trading may result in a substantial gain or loss. Therefore, it is not advisable to invest money you cannot afford to lose. Before using the services offered by ForexMart, please acknowledge the risks associated with forex trading. Seek independent financial advice if necessary. Please note that neither past performance nor forecasts are reliable indicators of future results.
Foreign exchange is highly speculative and complex in nature, and may not be suitable for all investors. Forex trading may result in a substantial gain or loss. Therefore, it is not advisable to invest money you cannot afford to lose. Before using the services offered by ForexMart, please acknowledge the risks associated with forex trading. Seek independent financial advice if necessary. Please note that neither past performance nor forecasts are reliable indicators of future results.