New York Stock Exchange: US Stocks Lower
The New York Stock Exchange (NYSE) is the biggest stock market in the world. The market capitalisation of the companies listed on this exchange sums up to a very high $23 trillion. A number of the companies in the S&P 500 index are traded on the NYSE. The exchange engages in the price-setting process for stock trading, where brokers sell the stock for the highest price they can get, either on a physical trading floor or an electronic system.
New York Stock Market Today: Dow closed at 1.29%
On the New York Stock Exchange, the Dow Jones Industrial Average dropped by 533.06 points (1.29%) to close at 40,665.02, marking a significant drop from the previous session. The S&P 500 decreased by 43.68 points (0.78%) to 5,544.59, and the tech-heavy Nasdaq Composite declined by 125.71 points (0.7%) to 17,871.22, compared to the previous day’s session. The European Central Bank kept it at 4.25% and said it was possible that it will go beyond the 2% inflation level next year.
Is the New York Stock Exchange Open Today?
The US stock market operates during the regular hours between 9:30 a.m. and 4 p.m. Eastern time, Monday through Friday. Both major US stock exchanges, the New York Stock Exchange and the Nasdaq, conduct business within those hours. Both stock exchanges also close on weekends.
Wall Street Dragged US and Asian Stocks Lower
Asian shares dropped by the end of trading day Friday after Wall Street suffered a strong pullback bringing US stocks lower, setting a decrease in Hong Kong’s benchmark of over 2% when investors remained cautious about China’s steps to aid its property sector.
Meanwhile, US futures went up amid falling oil prices.
In Hong Kong, the Hang Seng has decreased by 2.1% to 17,401.86 while the Shanghai Composite index was 0.1% lower, at 2,974.62. In Tokyo, the Nikkei 225 was down by 0.4% to 39,979.79, whereas in South Korea the Kospi retreated by 1.6% to 2,778.31. Australia’s S&P/ASX 200 plunged by 1.1% to 7,949.50.
New York Stock Exchange News: S&P 500 fell over 1%
For a second session this week, the US indexes fell practically to that of the bear due to the decline in the technology shares that were in the lead and the extension of this trend to other parts of the market.
The stocks of leading US tech giants, such as Google and Amazon, which are well-endorsed by artificial intelligence, declined by more than 1% on Thursday. Consequently, the tech-heavy Nasdaq followed suit, dropping by 1.13%.
As a health care provider, Ardent Health (ARDT. Next), the new tab shares went up 6% less than the price at their initial public offering on their first day of trading in the NYSE; hence, uncertainties about new listings on the part of some investors.
Ardent’s shares were on sale at $15 per share, and the company’s market valuation was $2.15 billion in size compared with the IPO price of $16 each.
The Tennessee-based company raised $192 million by selling 12 million shares at $16 each, well below the expected price range of $20-$22 per share.
Nvidia Rose 2.9%
Among the volatile trading, Nvidia Corp.’s stock is the one which stands at the top of the chip section, but at the same time is the one which shows a continuation of the weakness that we first saw a few days ago.
Nvidia NVDA shares increased by 2.9% on Thursday afternoon sessions; in addition, the company was trading at its peak but still moving out of the negative price change zone, which was short-lived.
The one-month return of NVIDIA Corporation (NASDAQ: NVDA) was -7.41%, and in the past 52 weeks, 166.01% of the company’s shares rose. On July 18, 2024, NVIDIA Corporation stock traded at the price of $121.09 per share with a market capitalisation of $2.979 trillion.
NVIDIA Corporation ranks fifth in our list of Hedge Funds’ 31 Most Popular Stocks.
Charles Schwab Stock (NYSE:SCHW)
After Charles Schwab’s earnings report led to a buyback program pause with a focus on the repayment of debt, its (SCHW) shares dived this week.
The lowered stock price, which is just $35, is not a compelling reason to buy this stock. The equipment still benefits from a 2% net interest margin boost to 3% of its net interest income through rate reduction. Even the firm’s adjustment in earnings per share (EPS) reached $0.73, which was a marginal excess over the consensus estimate of $0.72. Consecutively, it had been $0.74 and $0.75 in Q1 2023 and Q2 2023, respectively.
The difference in net revenues for the second quarter was $4.69 billion, below expectations from most analysts for approximately $4.7 billion. The last time revenue was this low in a quarter was in the previous quarter, $4.74 billion, but the same quarter last year saw a revenue of $4.66 billion.
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