The US stock market was closed on Monday due to the President’s Day holiday. today again the tension between Russia, Ukraine and the rest of the West is once again quoted. Russian President Vladimir Putin said on Monday that he would recognize the independence of Ukraine’s two breakaway regions, which could undermine peace talks with President Joe Biden. That announcement was followed by news that Biden was going to order sanctions on Ukraine’s breakaway regions, with the European Union promising to take further action. Later, Putin ordered the entry of forces into the two breakaway regions.
The news came after the White House said Sunday that Biden has agreed “in principle” to meet with Putin in a new effort to de-escalate the situation between Russia and Ukraine through diplomacy. White House press secretary Jen Psaki said the summit between the two leaders would follow a meeting between Secretary of State Antony Blinken and his Russian counterpart Sergey Lavrov.
This Tuesday, the main American indices open lower. The Dow Jones lost 0.53% to 33,898, the S&P500 fell 0.42% to 4,330.72 and the Nasdaq Composite dropped 0.67% to 13,457 points.
Within the DOW JONES, Chevron (2.39%), Procter & Gamble (0.53%) and Walgreens (0.39%) are the values that rise the most. Home Depot (-3.72%), Boeing Co (-2.15%) and Apple (-1.18%) are the ones that fall the most.
The declines in the Dow come in the case of Home Depot after it reported quarterly profit of $3.21 per share, three cents above estimates, and said it sees earnings and revenue growth this year. .
For its part, today we learned that Manzana would delay its folding screen iPhone until 2025. Previous rumors suggested that there was little left to see the first iPhone with a flexible screen. But we would have to wait longer with Apple.
On the Nasdaq important rises for Imperial Pet (5.92%), Guardforce (23.41%) and Nuvectis Pharma (22.61). Meanwhile, the biggest decreases are for Color Star (-47.67%), Zosano Pharma (-34.23%) and Allarity Thrp (-28.30%).
Macy’s also reported fiscal fourth-quarter profit and sales, which beat analysts’ estimates, and said a strategic review has prompted the retailer to speed up its turnaround plans. Over the Christmas period, the department store chain said it had gained some 7.2 million new customers. Chief Executive Officer Jeff Gennette said the department store chain was able to deliver strong results despite disruptions related to Covid-19, supply chain issues, labor shortages and high inflation. . In the fourth quarter, earnings per share came in at $2.45 adjusted, versus $2 expected, while revenue came in at $8.67 billion, above estimates. Shares rise 5.76% in the first minutes of the session.
Houghton Mifflin Harcourt has said it would be acquired by Veritas Capital in a deal worth $21 a share, representing a nearly 16% premium to Friday’s close. The transaction is expected to be completed in the second quarter. Rises of 14.90% on the stock market today.
Wall Street braces for end of corporate earnings season, with eBay among the companies being published this week. Earnings season has been strong so far: Of the more than 400 S&P 500 companies that have posted fourth-quarter earnings, 77.7% have beat analyst expectations, according to FactSet.
The market also looks towards the FED
Traders are also keeping an eye on the Federal Reserve as the US central bank is expected to hike rates several times starting next month. Traders are betting there is a 100% chance the Fed will hike rates after the March 15-16 meeting, with expectations leaning toward a 0.25 percentage point move, according to CME Group’s FedWatch tool. .
Expectations of tighter monetary policy have pressured equities, especially those in interest-rate sensitive sectors such as technology, and pushed the Treasury yield up sharply to start 2022. The benchmark 10-year Treasury ended last week around 1.93% after briefly topping 2%. The 10-year yield started trading in 2022 at around 1.51%.
“All eyes are on the Fed”Strategas investment strategist Ryan Grabinski wrote in a note published Friday. “As of today, the market expects the Fed to raise interest rates at almost every meeting this year. Despite that, we leave monetary policy as supportive for now because the Fed continues to buy Treasuries (a stock accommodative policy).”
The oil prices They are higher in today’s trading, with Brent rising 2.18% to $95.02, while West Texas Intermediate advanced more than 3.5% to $93.47 a barrel.
The Bitcoin It is trading with slight falls of 0.13% at $37,549.9.
At a macro level, in the US, the data to follow will be the S&P/Case Shiller house price index for December, together with the composite, manufacturing and services PMI for February and the Consumer Confidence data from The Conference Board for the same month .