Saturday , October 1 2022

Petrol has fallen and China's concern has hit Wall Street | AméricaEconomía


New York.- The three main Wall Street indicators ended Friday losses, after weak data from the Chinese economy and a further decline in oil prices, which worried global growth.

* The price of oil has fallen by almost 1% and has accumulated the longest series of daily falls since 1984, driven by a global increase in crude oil and evidence of a slowdown in the global economy.

* "Oil scares the market, if oil prices drop, it is another sign that the global economy will slow down economic growth," said Chris Zaccarelli, investment director of the Independent Advisor Alliance.

* Dow Jones Industrial Average <.DJI> lost 201.92 points, or 0.77%, to 25989.3 units, and the S & P 500 <.SPX> It fell by 25.82 points, or by 0.92%, to 2 781.01 units. The Nasdaq Composite Index <.IXIC> It lost 123.98 points, or 1.65%, to 7406.90 units.

* S & P Energy Sector Index <.SPSY> fell 0.4% after falling 2.2% in the previous session when US crude oil prices They have confirmed a bear market, withdrawing 20% ​​of the most recent peak.

* "I think we will go lower than the fall in October, economic growth is slowing, but it will not slow down enough for the Fed to abstain from growth rates," said Jim Paulsen, head of the Leuthold Group's investment strategy.

* Investors seemed less willing to take risks, which led to a 1.7% decline in the S & P index of the technology sector <.SPLRCT>. Apple Inc. lost 1.9% and semiconductor producers <.SOX> They declined by 1.9%.

* Eight of the 11 main sectors of S & P ended the decline. Mass consumption <.SPLRCS> was the biggest winner with an increase of 0.5%, while other defensive sectors, such as public services <.SPLRCU> and real estate <.SPLRCR> have made modest progress.

* In the midst of the bitter trade between the United States and China, a report showed that Chinese producer inflation fell for the fourth consecutive month in October due to cooling domestic demand and production activity, while falling sales of cars. .[nL2N1XK03O]

* China's report has made global stocks fall. On Wall Street, the sectors that hit the most were industrial ones <.SPLRCI>, which lost 1% and that of basic goods <.SPLRCM>, which declined by 1.4%.

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