US stocks mostly weakened today. The Dow Jones index, which includes shares of thirty leading US companies, gained 0.08 per cent to close at 43,461.21 points. However, the broader S&P 500 index fell 0.50 per cent to 5,983.25 points and the Nasdaq Composite index, which includes many companies in the high-tech sector, was down 1.21 per cent to 19,286.93 points.
Weak macroeconomic data
There is growing uncertainty in the stock market about economic developments in the United States, which was compounded last week by weak macroeconomic data and a disappointing outlook for Walmart, the largest US retail chain.
Investors are now waiting for quarterly results from US chipmaker Nvidia, which the company will release after the close of Wednesday’s trading on the stock market. They hope to get a better idea of future developments in artificial intelligence (AI).
European currency
Shares in Nvidia, which dominates the global market for AI chips, weakened by more than three per cent today. Shares in sportswear and footwear maker Nike, on the other hand, gained nearly five per cent. They reacted to news that investment bank Jefferies recommended buying them.
On the foreign exchange market, the euro climbed to a one-month high against the US dollar today in reaction to the outcome of Germany’s snap parliamentary election, but later lost most of its gains. Shortly after 22:00 CET, the single European currency gained less than a tenth of a percent and hovered near $1.0460. It climbed as high as USD 1.0528 overnight.
Source: ČTK
