The New York Stock Exchange starts the week a day later than usual due to the Presidents’ Day holiday.

The New York Stock Exchange starts the week a day later than usual due to the Presidents’ Day holiday.

The New York Stock Exchange starts the week a day later than usual due to the Presidents’ Day holiday.

Wall Street returns from a bridge with declines for its main indices. The sales are imposed on the New York Stock Exchange after Monday’s holiday for Presidents’ Day as a result of the entry of Russian troops into Ukrainian territory and the drop in consumer confidence data in the world’s largest economy.

The Confidence indicator of the Conference Board remains in positive territory, but is down compared to last month. In its reading for this February it remains at 110.5 points and, although it beats the most cautious forecasts of economists, it shows the doubts of consumers regarding the solvency of their personal finances.

With this ingredient, the falls prevail in the New York indices, although by much narrower margins than those seen in the first hour of the session in the European stock markets. The dow jones it loses 0.6% and falls below 33,900 points. While, S&P 500 Y nasdaq about 0.2% are left in the 4,300 and 13,500 points, respectively.

This is how Wall Street opens
Eduardo Bolinches

The fact that Russian troops have entered the Ukrainian breakaway regions of Donetsk and Lugansk in “mission of pacification” it overshadows any other reference. In addition, from the White House, US President Joe Biden has announced sanctions against Moscow for having “violated international law.”

With this scenario, the fact that the index Manufacturing PMI reaches 57.5 points in its advance reading for February. And the same for the index S&P Case-Shiller house priceswhich rises 18.6% in its closing reading for 2021, six tenths above what the consensus indicated.

Retail Giants

On the corporate field, two giants of retail distribution mark the session. From one side, Home Depot is down about 7% on Wall Street after posting a 5% drop in sales. A stumbling block that has not prevented him from announcing a 15% dividend increase.

In the other side, Macy’s Advances of 3% are recorded after having beaten sales and profit forecasts with their annual closing numbers. With profits of 742 million dollars, the department store chain has increased its quarterly dividend by 5% and has launched a repurchase of own shares for 2,000 million dollars.

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