Apple and Tesla shares outsiders on Wall Street today
2023.01.03 14:36
Apple and Tesla shares outsiders on Wall Street today
Budrigannews.com – As investors await this week’s minutes of the Federal Reserve’s last meeting, U.S. stocks got off to a slow start in the new year, weighed down by falling tech giants.
At 14:13 ET (19:13 GMT), the was down 199 focuses or 0.6%, while the was down 0.8% and the was down 1.1%.
Shares of Apple (NASDAQ:) decreased by more than 4%, posing a threat of falling below a market value of $2 trillion for the first time since 2021. Meanwhile, Tesla Inc.’s (NASDAQ:) shares of electric vehicle manufacturer after reporting deliveries for the quarter and the year that were lower than anticipated, it fell more than 13% on Tuesday, after falling 65% for 2022.
As interest rates rose throughout the year, putting pressure on once high-flying growth and big tech stocks, stocks ended 2022 with their worst performance since 2008.
The Federal Reserve has begun the fastest rate of interest rate increases in decades as part of a campaign to end this trend. The central bank stated at its meeting in December that rates would continue to rise until it was satisfied that its mission to contain price increases had been accomplished.
Last year, the tech-heavy Nasdaq fell 33% while the S&P lost more than 19%.
Investors are eager to put the year behind them and are hoping that this week’s economic data will help them move forward. On Friday, the positions report for December is expected, and information on is normal this week as the Fed minutes show up. Data on job openings and oil inventory will also be available to investors.
When the Fed meets again in February, it is expected to raise policy by a quarter of a percentage point. While this would be slower than recent rate increases, it would still be on an upward trajectory.
The possibility of China’s Macau gambling mecca reopening following COVID-related closures and restrictions drove up casino stock prices. NASDAQ: Wynn Resorts Limited shares were up 2%, while Las Vegas Sands Corp (NYSE:) The stock rose 1.7%.
Oil sank. was down 3.9 percent to $77.12 a barrel and 4.2 percent to $82.33 a barrel for crude. was up 1% to $1,844.
More Dollar is rising after U. S. stocks
