Wall Street closes negative, Dow .0.47%, Nasdaq .0.13%

Wall Street retreats on the final sitting and closes in negative territory. The Dow Jones lost 0.47% to 36.236 points, the S&P 500 0.10% at 4.696 points, the Nasdaq by 0.13% at 15.080 points. The negative session comes after the publication of the minutes from the Fed which revealed a possible acceleration in the rate hike of the US central bank.

The Fed’s minutes put pressure mainly on small tech stocks, while Facebook (Meta) posted strong gains closing at + 2.56%.

Energy stocks did well, benefiting above all from the surge in oil, with WTI hitting $ 80 before retreating slightly and Brent stable above $ 82.

But doubts remain on the sector over the Omicron variant, which could slow demand at a time when the supply of crude oil looks set to increase in the first quarter, “partly due to the release of strategic reserves,” he said in a statement. Commerzbank notes.
Bank stocks continued to ride higher Treasury yields, with the 10-year approaching its 52-week high. Signature Bank gained 6.26%, SVB Financial 7.53%, People’s United Financial 3.89%, among the three highest-earning stocks.
And the sector could still attract the attention of investors in view of the publication of the quarterly reports of Jp Morgan and Citigroup.

By Editor

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