Friday , July 30 2021

Wall Street, weakened by a dip of oil, goes down

Wall Street dropped on Friday following a short-term decline by the Thanksgiving celebration in the United States, following the collapse of companies in the field, oil prices declined.

Wall Street's flagship index, the Dow Jones Industrial Average, down 0.73% to 24,285.95, according to the closing results of the closing.

Nasdaq with strong technical color, got 0.48% to 6,938.98 points.

The broad S & P 500 index decreased 0.66% to 2,632.56 points.

Oil companies fell heavily on Friday, with a loss of 2.67%, Chevron 3.38%, Konokophilips 2.57% and Schlammurger 2.67%.

These dives led to the fall in prices of oil falling. New York and London crude prices have dropped by more than 5% during the session, Brent's barrel has dropped below $ 60 for the first time in more than a year.

Peter Cardillo of Sprattel Capital expressed concern over the reduction in global demand, saying "the fall in oil prices is a reason to fall because the global economy is weakening and it can be seen in a recession." Crude

From Europe to Asia, many countries around the world are facing a downturn in their activity and hence their energy needs to be reduced.

Moreover, the trade war between Beijing and Washington is alarmed by the worsening global slowdown, because the world's two largest economies emphasize penal rates on their business.

On the supply side, the US manufacturing at record levels, with the production of the Organization of Petroleum Exporting Countries (OPEC), together with a lot of production, is a major threat.

Volatility –

In this context, due to the extended Thanksgiving weekend in the United States, due to the low volumes of cocktails and increased worries, starting from the beginning of the month, its high level of volatility has increased in the index of the stock.

In the week, the Dow Downs fell 4.44%, the Nasdaq 4.26% and the S & P 500 3.75%.

On Friday, the markets focused on major US trade groups including Macy's (-1.78%), Walmart (+ 0.99%), Target (-2.76%), Jesse Penn (-0.76%). %) During the monster sale of "Black Friday", during which record sales were expected on the internet.

David Madden of CMC Markets said, "The emergence of online shopping has influenced traditional market players and investors will monitor the elasticity of the sector."

The online sales of Big Champion Amazon also declined slightly (-0.97%).

The title of the giant was also monitored because employees of Spain, Germany and Great Britain went on strike to demand better working conditions.

Among other values, Tesla lost 3.65%, while the automaker said it plans to reduce its model X and model S vehicles prices in the Chinese market, currently the United States and China.

After the close of 3.063% on Wednesday, the US 10-year debt rate fell to 3.048%, and 30-year-old was 3.316% against 3.316% on Wednesday.


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