Wall Street found some easing on Friday as key stock indexes jumped during the week of a sell-off, but markets are still ready. the end is low for the sixth week in a row.
Shaking surprisingly tough monthly inflation և a: catastrophic sale of cryptocurrencies This week, investors are increasingly worried about whether Federal Reserve Chairman Jay Powell will be able to make a soft landing for the US economy. a series of interest rate hikes in the coming months.
The Dow Jones Industrial Average rose more than 450 points, or 1.47%, to 32,195.50 on Friday, and the Nasdaq rose 4% to 12:30 a.m. Friday. as of: Both indices point to weekly losses.
The S&P 500 grew by 2.67%. The benchmark index continues its sixth losing week in a row, something that has not happened since 2011.
Technology shares led to profits. Apple rose in price by 2.1%, and Microsoft – by 2%.
The sector has been facing most of the wider market volatility throughout the week և generally slipping as high interest rates tend to be the most expensive stocks.
Retailers and communications companies also made significant profits. Amazon grew by 3.6%, and Google’s – by 2.3%.
Jordan Waldrep, chief information officer at TrueMark Investments in Dallas, told The Post that the market downturn was the result of a combination of factors that together form a perfect storm. inflation, Russia’s invasion of UkraineSupply Chain Outages և The ongoing COVID-19 epidemic.
“Gather everything, you will be vulnerable to correction,” Waldrep told The Post.
“It is vulnerable enough to turn the ship around and start selling.”
Asked if there was light for investors at the end of the tunnel, Waldrep said he was optimistic in the long run that Wall Street could expect more turbulence in the near future.
“I do not know whether we are experiencing regular correction or the beginning of something bigger,” he said.
“So far, sales have been fairly regular, but we have not yet seen a real blow to the trade, with growing volatility on a massive scale that often marks the end of these corrections.”
Waldrep said that Rising interest rates by the Federal Reserve “The market pushed to get some air out of the balloon.”
“As painful as it was for investors, I think it has been a healthy sale so far,” he said. “I would like to see the market find some basis to start rebuilding from these levels.”
Mark Andraos, affiliate portfolio manager at Regency Wealth Management, told The Post that the IPO was a result of “significant uncertainty in pricing as to whether the Fed could make a soft landing and not drive the economy into recession.”
“The silver lining is that corporate profits have been strong, and market valuations of securities are more attractive than they were before the epidemic, creating selective opportunities to add high-quality companies that have been sold,” he said.
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