October 17, 2021

Dubai Week

Complete Dubai News World

The Wall Street debt ceiling rises with confidence

The Wall Street debt ceiling rises with confidence

Shares returned on Wednesday as investors increased their debt-ceiling deal and technology stocks increased. The Dow Jones Industrial Average rose 27 points to 459. Standard & Poor’s session advanced 0.15%, down 1.27%. Technology-focused Nasdaq Composite was up 0.3%, down 1.2% in the session.
Wall Street rose sharply Tuesday; Growth in Microsoft and Apple led to a strong recovery in stocks, while investors are waiting for the monthly work data this weekend, which will affect the decision on when to cut the US stimulus cash incentive.

Shares of the most valuable companies on Wall Street, such as Apple, Microsoft, Amazon and Alphabet, recovered following the sale of growth shares in the previous session.

Shares of Facebook rose 2% after its service was disrupted for several hours with WhatsApp and Messenger applications and its Instagram photo-sharing platform.

Of the nearly 11 key sectors included in the Standard & Poor’s 500 Index, banking and telecommunications and technology services companies topped the list.

The Dow Jones Industrial Average traded up 315.57 points, or 0.93 percent, at 34,318.49 points on Wednesday.

The tech-savvy Nasdaq stock index rose 178.35 points, or 1.25 percent, to 14,433.83 points.

European

European stock markets, on the other hand, deepened their losses on Wednesday morning, after recovering the previous day, including the Paris and Frankfurt stock exchanges, which fell more than 2% on the back of inflationary concerns; As investors switched from high-growth technology stocks to banking stocks, oil prices raised concerns about rising prices.

The main index of the Paris stock market “CAC 40” was down 2.12% at 6436.64 points.

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Frankfurt Stock Exchange; Where the DAX index is down 2.14% to 14869.38 points.

The Japanese

Japan’s Nikkei index turned upside down on Wednesday, ending at a six-week low, amid concerns over rising interest rates, China’s recession and lower approval ratings.

The Nikkei index fell 1.05% to close at 2,7528.87 points, the lowest level since August 23. The index, which had gained 1.4% earlier in the session, ended with a loss in the eighth consecutive session.

The broader topics index was down 0.3% to 1941.91 points.

Losses were driven by heavyweight stocks; Shares of Fast Retail, which operates Uniclo clothing stores, fell 3.1%, chip maker Tokyo Electron 2.08% and technology investment group Softbank 2.07%.

According to a local media poll, Prime Minister Fumio Kishida is struggling to find a place with voters two days after forming his new government.

A daily newspaper showed his approval rating at 45%, much lower than the administration of his predecessor Yoshihit Suka when he came to power last year. (Reuters)