Wall street ends in a red-wide fall in tech

Two out of three key indices looked red at the close of trading on Thursday.

  • The Dow Jones industrial average rose 0.15 percent to 34,987.75 points.
  • The broad S&P 500 index fell 0.33 percent to 4,360.01 points.
  • The technology index Nasdaq got a real break, and fell 0.7 percent to 14,543.13 points.

A major element of uncertainty in the US markets is the inflation figures, which continue to rise sharply. The US CPI index rose by 5.4 percent in June, which has put great pressure on the central bank Fed and CEO Jerome Powell. This was the largest change on a monthly basis since 2008.

Tech decline

Several of the world’s largest companies sank on a red Nasdaq stock exchange. Amazon ended down 1.37 percent at a price of $ 3,631.2. This comes after the subsidiary Blue Origin announced that they will fly an 18-year-old into space.

Netflix also stumbled on Thursday, falling 0.9 percent to $ 542.95. Netflix announced Thursday night that the company will make a radical innovation, and focus on video game services. The decision to invest in games comes after the company experiences increased competition, and is looking for new ways to increase revenues.

Analyst favorite flies upwards

Delta Airlines ended Thursday up 1.65 percent at a price of $ 41.35. This comes after the company reported stronger growth than expected in the second quarter, and received a buy recommendation from the investment bank Raymond James, which raised its price target to an upside of 45 per cent.

Investment bank Morgan Stanley released figures for the second quarter on Thursday, where these fell slightly better than what the consensus estimated. Net revenue for the period came in at $ 14.8 billion, compared to $ 13.7 billion in the same quarter last year. Consensus expects revenue of $ 13.96 billion. The share ended the trading day up the messages 0.2 percent.

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The price of burnt oil at closing time on Wall Street is down 1.72 percent to 73.26 dollars a barrel. This comes after OPEC announced production figures for June, and came up with new estimates for oil production in 2021 and 2022.


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