Connect with us

Economy

Banks pressure Dow ahead of long weekend – Stock Exchange

Published

on

Banks pressure Dow ahead of long weekend - Stock Exchange

On the eve of a long weekend, as Wall Street is closed on Monday for Martin Luther King Jr. Day, the S&P 500 and Nasdaq were able to return to gains, but the Dow did not catch its breath.

The Dow Jones industrial index fell 0.56% to 35,911.81 points. On January 5 last year, it reached a level that was not there before, at 36,952.65 points.

Standard & Poor’s 500 added 0.08% to 4662.85 points. In intraday trading on January 4, it reached its highest value ever – 4818.62 points.

For its part, the Nasdaq Composite Technology Index added 0.59% to close at 14,893.75. Recall that on November 22 it reached a historical maximum of 16,212.23 points.

Banking was one of the Dow’s worst performers as investors were disappointed by JPMorgan Chase’s nearly 15% drop in Q4 2021 earnings compared to the same period in 2020.

Shares of JPMorgan fell 6.15% to $157.89.

Citigroup pcs. BlackRock, which also reported their accounts today, also fell in price by 1.25% and 2.19, respectively.

Wells Fargo turned out to be a bright spot in the bank, climbing 3.68% after announcing – also this Friday – better-than-expected results.

The techs, who had been punished in the last few days, were able to recover in the middle of the session. They still opened lower this Friday under pressure from a fresh signal for an imminent rate hike, but reversed the trend with some optimism to get back into the market.

At the beginning of the day, all US indices were in the red, still digesting the words of the head of the US Federal Reserve, Lael Brainard, who assured this Thursday that the central bank is ready to interest rate hike in Marchif the measure is necessary to fight inflation.

See also  N'Gunu Tiny in talks to buy Jornal Económico and weekly newspaper Novo - Media

“Lael Brainard explicitly mentioned that the main priority of the Fed is to bring inflation down to values ​​that are accepted as maximum, that is, at the level of 2%. A rise in the cost of living of three times that amount, with little sign that it could fall sharply in the first quarter, has led investors to speculate that central bank members’ thinking is now much more hawkish, not least because new members Joe Biden appointees, including Brainard, have more to do with a hawkish mentality than those who leave,” said Marco Silva, a consultant at ActivTrades, in his daily analysis.

Brainard’s position is consistent with what he said Fed President last Tuesday before the Senate. Jerome Powell said at his confirmation hearing that the Federal Reserve will be able to bring down inflation as long as the US economy recovers.

The Fed chairman said he would not hesitate to take action if necessary to contain price pressure. “If over time we have to raise interest rates more often, we will do it,” he stressed.

Retail sales data released today also did not improve investor sentiment. They fell 1.9% in December from the previous month, after seasonal adjustment. It was the first drop since the summer, largely due to an increase in cases of infection with the omicron variant of the coronavirus in the country.

In July, which was the last month of the drop in retail sales, this drop coincided with an increase in delta infections.

See also  Millennium BCP Nearly Doubles Earnings to $113M - Banking & Finance

The market movement ended with a correction in favor of growth, in the case of the S&P 500 and Nasdaq, mainly due to the consolidation of positions before the holiday.

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Economy

Everything has been delivered. 10 Bugatti Centodieci are already in the hands of the owners

Published

on

Everything has been delivered.  10 Bugatti Centodieci are already in the hands of the owners

OAll Bugatti Centodieci have been delivered, the Molsheim-based brand said on Monday. Cristiano Ronaldo received the number 07 in October this year. and Bugatti has now revealed that the latest unit – #10 – is already in the possession of its owner.

“The Centodieci combines all the values ​​of the Bugatti brand in an extraordinary package: rarity, innovation, heritage, craftsmanship and unrivaled performance. The production batch of 10 units was so in demand by our customers that it was sold before the Centodieci. was even officially presented,” said Christophe Piochon, president of Bugatti.

This latest example is finished in Quartz White with carbon fiber trim on the bottom and matte grilles. The brake calipers are painted in Light Blue Sport, as is the logo on the rear that refers to the EB110, the iconic Bugatti model that inspired this Centodieci. Inside, the predominant color is also blue, as you can see in the images above.

This block is powered by the same block as the other nine instances. The 8.0-liter W16 with four turbines is capable of developing 1600 hp. In terms of performance, this allows the Centodieci to hit 100 km/h in just 2.4 seconds and reach a top speed of 380 km/h.

Recall that each unit costs the owners eight million euros before taxes.

Read also: We already know when the Bugatti Centodieci fell into the hands of Ronaldo.

Continue Reading

Economy

The first Dacia hybrid. “The cheapest hybrid family on the market”

Published

on

The first Dacia hybrid.  "The cheapest hybrid family on the market"

BUT Dacia revealed this Monday that the hybrid engine has been available since March on the Jogger, the Romanian brand’s model known to be available with a seven-seat variant.

The Jogger Hybrid 140, Dacia’s first hybrid, will hit dealerships in March, but customers can expect and order it as early as January.

The price has been revealed by Dacia and since it’s only available in the seven-seater SL Extreme, it starts at €28,800. The brand claims it is “the most affordable hybrid family car on the market.”

Available in six existing colors to celebrate the launch of this hybrid, there will be a slate gray version, as you can see in the images above.

Equipped with a 1.6 liter four-cylinder petrol engine with 90 hp, the Jogger is also powered by two electric motors (a 50 hp engine and a high-voltage starter-generator). The total power is 140 horsepower. The electric transmission is automatic, four-speed, connected to an internal combustion engine, and two speeds are connected to an electric motor. This combined technology was possible, according to Dacia, only due to the lack of clutch.

Combined with the energy recovery levels of the 1.2kWh (230V) battery pack and the efficiency of the automatic transmission, regenerative braking delivers all-electric traction on 80% of urban journeys and saves up to 40% of fuel compared to a combustion engine vehicle.

Read also: Dual-fuel Dacia Jogger Eco-G. We tried 5 seater and LPG…

Continue Reading

Economy

See how Tesla tests its electric Semi truck in the worst-case scenarios

Published

on

Tesla Semi camião elétrico testes

Tesla has finally been able to bring its long-awaited Semi to market. This electric truck promises to revolutionize transportation and bring all the unique characteristics of this type of electric vehicle to this class of vehicles.

Now that the first units have been delivered, there is hope that they will finally be mass-produced and reach more transport companies. With so many promises to be kept, a new video is now emerging showing Tesla testing its Semi truck under worst-case scenarios.


Tesla Semi is already on the market

Like all Tesla electric vehicles, Semi follows the same line of creating a unique design associated with a platform with the most modern technology available. The proof is in what was presented to the public and surprised most people.

To prove the quality of this new proposal, Tesla published in your LinkedIn account new video. In it, he reveals some of the testing he's done to determine the strength and quality of the Semi's design and its (potential) durability.

Tests to prove its durability

It has been revealed that the Tesla electric truck is subjected to numerous tests and its application in the worst scenarios that drivers may face. It doesn't stop at the ruggedness of the Semi's designs, but goes further and focuses on the motors and batteries themselves.

This is the proof that many have been waiting for to ensure that this new proposal is not limited to a lot of autonomy. Its resistance is great and will provide greater durability, further enhancing the Semi's value and performance.

See also  N'Gunu Tiny in talks to buy Jornal Económico and weekly newspaper Novo - Media

high quality electric truck

Tesla has already showcased the Semi's quality with a video showing its truck driving roughly 500 miles on just one charge. The big news here is that he managed to make this long journey with a maximum load of about 37 tons.

Now Tesla remains to widely place the Semi on the market. At the moment, only a few companies have access to this new product, with a very long list of pending deliveries, who want to start mass-using this electric truck offering.

Continue Reading

Trending