Wall Street closed Thursday’s session in positive ground. During today, the main indices still suffered some lossescaused mainly by Nvidia’s guidance falling short of analysts’ most optimistic expectations, but also by the escalation of tensions between Russia and Ukraine.
Even so, the indices closed the day advancing, driven by the decline in unemployment benefit claims in the US.
The S&P 500 rose 0.53%, to 5,948.71 points, while the Nasdaq Composite remained practically unchanged, appreciating 0.03%, to 18,972.42 points. The Dow Jones gained 1.06%, at 43,870.35 points.
The number of people who have filed claims for unemployment benefits in the US fell 6,000 from the previous week to 213,000 in the period ending November 16. This is the lowest number of unemployment benefit claims recorded since Apriland well below market expectations, which predicted an increase for 220,000 orders.
The positive results expanded the view that the US job market remains at strong levelsdespite the aggressive tightening cycle of the North American Federal Reserve (Fed) in recent quarters. This gives some room for maneuver for the Fed to ease the country’s monetary policyif inflation remains high.
About Nvidiathe chip producer exceeded expectations regarding its quarterly results and projected revenues for the fourth quarter above analysts’ estimates. However, Guidance fell short of highest estimates. Nvidia’s profits and revenues nearly doubled to 19.3 billion dollars and 35.1 billionrespectively, in the third quarter compared to the same period last year.
Not international panorama, Ukraine reported that Russia fired an intercontinental ballistic missile during a nighttime attack, while a Kremlin spokesman said Ukraine’s use of long-range missiles from the United Kingdom constituted a new escalation.
“Geopolitics always has the potential to introduce volatility into the market and we saw that with what’s happening in Ukraine,” Themis Themistocleous, chief investment officer for EMEA (Europe, Middle East and Africa) at UBS Wealth Management, told Bloomberg. .
Among market movements, the Alphabet – Google’s “mother company” – sank 4.56%. Behind this drop is the fact that the US Department of Justice (DoJ) suggested the disposal of Google Chrome – the most used browser in the world – by Alphabet and sharing data with rivals, among other measures, to end what the DoJ considers a monopoly.
Among the remaining “big tech”Nvidia rose 0.53%. On the other hand, Apple fell 0.21%, Meta and Microsoft fell 0.43% and Amazon fell 2.22%.
Source: www.jornaldenegocios.pt
