US Stock Exchanges Are Noticeably Recovering After A Three-Day Fall
Major us stock markets moved to a brisk corrective growth after falling during the previous three trading sessions, according to trading data.
As of 16.49 GMT, the Dow Jones Industrial Average (DJIA) was up 0.71%, to 27719 points, the NASDAQ high — tech index was up 1.51%, to 11,228 points, and the broad-market S&P 500 index was up 1.02%, to 3,369.62 points.
The collapse of US stock markets began on Thursday. During this time, the DJIA index lost 5.4%, the S&P 500-6.9%, and the NASDAQ, which lost about 10% in three trading days, is in the lead. Accordingly, the share price of companies in the technology sector is recovering first. Apple shares are up 3% after yesterday's 6.7% drop, Tesla shares are up 9% after a 21% drop the day before, and Facebook, Twitter, Alphabet, and Amazon shares are up 0.5-2.8%.
"We will see a correction in the value of technology stocks for some time to come," CFRA senior investment strategist Sam Stovall told Reuters.
Meanwhile, shares of Tiffany & Co. are down 9% after reports that the company has filed a lawsuit against France's LVMH (Moet Hennessy-Louis Vuitton) for delaying the merger process.
Investors are also waiting for the publication of several data from the Ministry of labor. Tomorrow, the Ministry will publish information on the number of applications for unemployment benefits. Analysts predict that over the past week, the indicator decreased by 35 thousand to 846 thousand applications. And on Friday, the Ministry of labor will present data on inflation in the country. Experts predict its acceleration by the end of August to 1.2% in annual terms.