Wall Street closed Tuesday’s session in divided landon the eve of Nvidia’s quarterly results presentation. The day was marked by volatility of the main indices following the latest escalation of tensions between Russia, the West and Ukraine.
The S&P 500 advanced 0.40%, to 5,916.98 points, while the Nasdaq Composite gained 1.04%, to 18,987.47 points. The Dow Jones lost 0.28%, to 43,268.94 points.
The three main indices opened lower and the reference index – the S&P 500 – fell 0.64%, after Russian President Vladimir Putin expanded the circumstances regarding the possibility of using the country’s nuclear arsenal – which is the largest in the world.
The change in policy regarding Moscow’s use of nuclear weapons was interpreted as a response to the Ukrainian attacks on Russian territory, which included the use of long-range missiles supplied by the United States.
Even so, the indices ended up gaining some traction after Russian Foreign Minister Sergei Lavrov stated that Moscow will do everything in its power to prevent the outbreak of a nuclear war.
“The biggest takeaway from today is the caution around what’s happening in Ukraine. For the most part, investors are hiding behind some of the ‘megacaps,’ which is a little surprising ahead of Nvidia’s earnings.”, Timothy Chubb, Girard’s chief investment officer, told Reuters.
The results of Nvidiapresented this Wednesday after the session closed, will be the most important catalyst this year – more than the December meeting of the US Federal Reserve (Fed), according to Barclays analysts cited by Bloomberg. The giant chip producer catapulted more than 4% this Tuesday.
Among market movements, the Wallmart rose 2.96%, after the North American retailer increased its annual sales and profit forecasts for the third consecutive time.
On the other hand, the actions of Spirit Airlines sank more than 85%. The “low cost” airline said on Monday it had presented a filing for protection from creditors under Chapter 11 in the U.S. Bankruptcy Court for the Southern District of New York.
The largest low-cost airline in the United States, lost more than 2.5 billion dollars since the beginning of 2020 and faces imminent debt payments totaling more than a billion dollars next year, according to The Guardian.
Entre as “big tech”Nvidia grew 4.89%, Alphabet rose 1.57%, Amazon gained 1.44%, Meta appreciated 1.21%, Microsoft advanced 0.49% and Apple recovered gains of 0.11% .
Source: www.jornaldenegocios.pt
