After a week of decline due to the war in Ukraine, the opening of wall street today forecast a bounce day for the US market. Specifically, this Monday the DOW JONES opens with increases of 0.94% at 33,252.27 points, the S&P 500 advances 0.58% to 4,228.7 points and the Nasdaq rebounds 0.15% at 12,859 .
Within the Dow Jones, only five values fell at the opening: Chevron (-2.21%), Nike (-1.49%), Intel (-1.10%), Apple (-1.16%) and Verizon (-0.48%). The main ones include American Express (2.93%), Visa (2.78%) and JPMorgan (2.13%).
In the S&P 500 Moderna it leads the increases and shoots up 19.29%. And it is that Moderna is expected to send preliminary data to the FDA this week on how well its Covid vaccine is working for the smallest group of children who have not yet received a vaccine: from 6 months to 5 years, according to the New York times. .
Investors thus maintain the positive tone on a Monday day in which the diplomatic efforts to put an end to the war in ukrainian have intensified, with Ukrainian and Russian negotiators willing to talk again after both sides cited progress, even after Russia attacked a base near the Polish border and fighting increased elsewhere.
On the other hand, investors do not take their eyes off the new appointment with the Federal Reserve (Fed), which starts tomorrow and will publish the conclusions of its meeting on monetary policy this Wednesday. The market has already fully priced in that the central bank will raise interest rates for the first time since the pandemic began. Jerome Powell already anticipated a few days ago a rise of 25 basis points in the price of money in order to contain the high inflation that grips the US economy. Experts expect the central bank to reaffirm its commitment to contain prices, although its determination will be tempered by the real uncertainty caused by the war. In any case, the consensus already anticipates that rates will continue to rise in the coming months to levels close to 2% at the end of the year, and they also anticipate that the Fed will begin to reduce its balance, depending on how the war evolves.
Finally, the markets do not show excessive concern about the New bread from Covid-19 in China, that has caused the closure of the province of Shenzhen, considered the Chinese ‘Silicon Valley’ and that may impact the supply chains of semiconductor manufacturers.
Joe Biden, president of the United States, declared that the United States “will end to permanent normal trade relations with Russia. The US and its allies will deny Russia its preferred trade status. We are going to impose a ban on Russian imports of seafood, alcohol and diamonds. We are looking forward to signing the Russian trade curb law. The United States and the G-7 will ensure that Russia cannot obtain financing at various levels from the IMF and the World Bank. Our sanctions and export controls are wreaking havoc on the Russian economy. We are sanctioning more Russians, including already sanctioned bank executives and members of the Duma. The United States has prevented the export of luxury goods to Russia.
On the other hand, read negotiations with iran are stagnating as the US rejects Russia’s latest demands, according to the Financial Times.
Berkshire Hathaway sees a new position in Occidental Petroleum. The Warren Buffett-led conglomerate spent more than $1.5 billion last week on 27.1 million shares, he said in a regulatory filing. The purchases bring Berkshire’s stake in Occidental to 118.3 million shares, worth nearly $6.9 billion as of Friday’s close. Berkshire disclosed its position in the oil giant on March 4, disclosing at this time that it held 91.2 million shares of common stock. Occidental is now one of Berkshire’s 10 largest holdings in public companies. Their titles rise 1.5% in the first minutes of today.
Uber Tech will impose fuel surcharges for the next two months to offset rising gas prices. Increases will be paid directly to drivers for the company’s transportation and food delivery services. Falls of 2.7% this Monday.
vision background is soft bench It sold $1,000 of its stake in the South Korean software company Coupang (CPNG), according to a regulatory filing. The sale of 50 million shares still leaves the fund with 461.2 million Coupa shares.
Ford Motor is forecasting a 12% drop in US sales this year, according to an Automotive News report citing people present at a meeting with dealers. The publication said Ford has lost 100,000 production units so far this year due to parts shortages.
Comcast’s NBCUniversal, the parent company of CNBC, is close to a deal with Major League Baseball for exclusive rights to air games in a new Sunday time slot, according to people familiar with the discussions who spoke to The Wall Street Journal. The deal is said to include an 18-game bundle.
Rio Tinto shares are under pressure after the mining company offered to buy the 49% of Turquoise Hill from Canada that it does not already own for around $2.7 billion. The price is 32% above the four corners of Turquoise Hill.
Tesla CEO Elon Musk said both the automaker and its rocket company SpaceX face significant inflationary pressures due to rising material and labor costs.
Fortive moved up to “overweight” from “equal weight” in barclaysand the company cited the valuation for its call to the manufacturer of industrial machinery and equipment.
The property of Facebook, Meta Platforms, said on Sunday that it is further adjusting its content moderation policy in Ukraine to ban calls for the death of a head of state, according to an internal company message seen by Reuters. The move came after Reuters reported last week that Meta was temporarily allowing some Facebook and Instagram posts calling for the death of Russian President Vladimir Putin or Belarusian President Alexander Lukashenko.
The European Commission and the United Kingdom announced four investigations for a possible violation of competition rules by Alphabet (Google) and Goal, who in 2018 reached an agreement that affects online advertising services and could have limited competition from other competitors. On the other hand, the Russian prosecutor’s office asks to restrict access to Instagram and classify Meta as extremist.
Asset manager Blackrock could see record losses of -$17bn on its exposure to Russian markets, the Financial Times reported on Friday.
On Friday, the automobile company Rivian Auto Rg-A announced that it was cutting its production target for 1H22 due to bottlenecks. So far in 2022, the price has already fallen -63.30%.
the company foxconn which supplies components to Apple maintains its activity in Shenzhen suspended due to the new COVID-19 bread that has caused a confinement. This stoppage of activity is extended to numerous companies and if it continues it could cause new supply problems.
American fast food company THE KING OF BURGERS it suspended its support for the more than 800 franchises it has in Russia; UNIQLOfinally, and although it was reluctant since the beginning of the war in Ukraine, it suspended activities in Russia; TOBACCO JAPAN, the Japanese tobacco company decided to suspend activities and investments in Russia, where it holds –…“ market share; and SHISEIDOdecided to suspend activities in Russia.
The precious ones Petroleum They fell sharply on Monday, extending last week’s decline as diplomatic efforts to end the war in Ukraine increased and markets braced for higher interest rates in the United States. Brent basis futures are now up 6.52% for a total of $105.69 and West Texas Intermediate (WTI) basis futures are up 6.81% for a total of $101.89. Dollars. Both contracts have warned since the Russian invasion of Ukraine on February 24 and have warned about 40% year to date.
For his part, the euro appreciates 0.28% against the dollar and is trading at 1.0940 greenbacks, while Bitcoin is up 0.26% to $38,839.
The major cryptocurrency rises today after traders seized on a series of tweets from Tesla boss Elon Musk about high inflation as a buying spur. “It’s generally better to own physical things like a house or stock in companies that you think make good products, rather than dollars when inflation is high,” Musk said. “I still own and will not sell my bitcoin, ethereum or doge.”
The SEC (USA regulator) refuses to admit a negotiation Bitcoin-denominated ETFs, NYDig Bitcoin and Global X Bitcoin. On the other hand, United Arab Emirates (UAE) crypto firms are receiving a barrage of requests to redeem billions of dollars in virtual currency, as Russians seek a safe haven for their fortunes, company executives and sources said. financial
Gold Futures fell 1.27% to $1,959 an ounce.
Finally, the 10 year US bond yield rises to 2.092%.