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World: Wall Street’s volatility streak continues as stocks close lower

Asian markets rise, Brent at highest since 2014 on recovery hope

  Asian markets rise, Brent at highest since 2014 on recovery hope Most Asian equities rallied Tuesday and Brent crude hit a more than seven-year high as optimism over the global recovery returned to trading floors, though concerns about the end of long-running central bank support tempered sentiment. - Crude supply concerns - The broadly positive start to the day was matched by oil, with Brent climbing past $87 a barrel for the first time since October 2014, thanks to demand optimism as the world reopens and easing concerns about Omicron.The easing of travel restrictions in several countries has seen jet fuel costs soar.

Wall Street gyrated wildly on Thursday, the S&P 500 once again narrowly avoiding correction confirmation at the end of a session marked by a rally, selloff and recovery as investors juggled positive economic news with mixed corporate earnings, geopolitical unrest and the prospect of a more hawkish US Federal Reserve.

All three major United States stock indexes have been whipsawed by uncertainty in recent days, marked by wide fluctuations and heightened volatility [File: Brendan McDermid/Reuters] © Provided by Al Jazeera All three major United States stock indexes have been whipsawed by uncertainty in recent days, marked by wide fluctuations and heightened volatility [File: Brendan McDermid/Reuters]

The Dow Jones Industrial Average fell 7.31 points, or 0.02 percent, to close at 34,160.78. The S&P 500 lost 23.42 points, or 0.54 percent, to end the session at 4,326.51 and the tech-heavy Nasdaq Composite Index dropped 189.34 points, or 1.4 percent, to 13,352.78.

Tech shares: Badest start since 2016!

 Tech shares: Badest start since 2016! Tech shares have caught the worst start since 2016. As the US news agency Bloomberg summarized, the NASDAQ 100 was broken by about 4% within the first few weeks. For six years now, such a through-growing performance did not give rise to the prelude. © Provided by the Motley Fool Technology shares ETFS withholding tax Whether we can derive something for the market year 2022, which is of course a different question.

All three major United States stock indexes have been whipsawed by uncertainty in recent days, marked by wide fluctuations and heightened volatility.

Small-caps have had a rougher go of it, with the Russell 2000 now more than 20 percent below its November 8 record high, officially confirming the index has been in a bear market since then.

“This is a market that is schizophrenic,” said Tim Ghriskey, senior portfolio strategist at Ingalls & Snyder in New York. “There are those who believe everything negative has been discounted and there are others who believe that the worst is yet to come.”

“It’s a period of a lot of uncertainty; it’s been this way all month,” Ghriskey added.

Among a spate of economic data released on Thursday, the US Department of Commerce’s advance take on fourth-quarter gross domestic product shows the US economy in 2021 grew at its fastest pace in nearly four decades.

ASX drops, tech plunges on rate fears

  ASX drops, tech plunges on rate fears Investors have seen their ASX shares fall but have been faring much better than the huge losses suffered by Wall Street traders.The ASX was down 0.76 per cent on Wednesday after soaring bond yields in the US helped decimate markets there.

Markets seesawed following the release on Wednesday of a statement from the Fed Reserve’s Federal Open Market Committee, which left key interest rates near zero, and Fed Chairman Jerome Powell’s subsequent Q&A session during which he appeared to raise the possibility of more rate hikes this year than previously expected, beginning in March.


Video: 2021: The Year in Inflation (QuickTake)

The fed funds futures market now prices in nearly five rate hikes this year in the wake of Powell’s remarks.

Geopolitical tensions simmered, as Russia continues to build up troops along the Ukrainian border and diplomats scramble to avoid conflict in the region.

Fourth-quarter reporting season has hit full stride, with 145 of the companies in the S&P 500 having reported. Of those, 79 percent have delivered consensus-beating results, according to Refinitiv data.

Turkey: Loose monetary policy despite record inflation?

 Turkey: Loose monetary policy despite record inflation? With voltage is expected that the Turkish central bank continues to reduce its key interest rate on Thursday despite a massive inflation and is responding to claims by Recep Tayyip Erdogan. © Francisco Seco / AP / dpa Life in Turkey is becoming more expensive. Inflation reached a record high of around 36 percent in December, making it as high as never before under the leadership of Erdogan.

Analysts now see, on aggregate, year-on-year fourth-quarter earnings growth of 24.2 percent for the S&P 500, per Refinitiv.

“The numbers and especially the guidance has not been that inspiring and that’s a factor that’s been limiting the upside so far this week,” said Chuck Carlson, chief executive officer at Horizon Investment Services in Hammond, Indiana.

Supply-chain challenges, the engine driving inflation through the recovery from the global health crisis, have been a recurring theme this earnings season.

Intel Corp cited that issue as the reason behind its disappointing first-quarter earnings forecast, which sent its shares tumbling.

Intel’s dismal outlook weighed on the broader sector, sending the Philadelphia SE semiconductor index sharply lower.

Shares of Tesla Inc dropped after the company warned that supply issues will last throughout 2022. Shares of rivals Lucid Group and Rivian Automotive also ended sharply lower.

Netflix Inc jumped following news that billionaire investor William Ackman has amassed a new $1bn stake in the company.

Apple Inc results were expected after the market close.

now prohibited from destruction, the unsold luxury in search of fall points .
Inevisageable sales, forbidden destruction ... The luxury brands are organized to find emergency exits for products that have not found takers. © Provided by FranceInfo The balances are unthinkable and the destruction is now forbidden: between millimeter management of stocks, sales to staff, donations and recycling, luxury brands are organized to sell any unsold products.

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