After beginning the week on strong bullish momentum, the major US stocks are currently ending the week with a significant loss.
The US stock market seems to have reacted contrary to the market expectations yesterday after the speech by Jerome Powell during the International Monetary Fund meeting. Despite announcing an imminent interest rate equivalent to a 50 basis point count driving the dollar index up, the US stock market took the opposite direction giving off most of its gains at the beginning of the week.
Netflix is down by 3.52%, having loss over $7.97, bringing the price down to $218.22; Apple is down by 0.48% only; Amazon is down by 3.70%, lowering the price to $2,965.92; Disney is down by 2.34% with the price falling to 121.66; and Energy Transfer Equity (ET) is down by 2.02% with the price falling to $11.65. Technology company Facebook is down by 6.16%, with the price currently at $188.08; Google is down by 2.52%, priced at $2 496.29; Microsoft is down by 1.94%, with the current price of $280.81.
Similarly, the index market has yielded negatively too following the fall of the stock market, S&P 500 fell by $65.79, bringing the price down to 4393.67, marking a 1.48% loss; US100 loss over $278.08, pulling the price down to $13, 720, recording a 1.99% loss; Dow Jones recorded loss of $368, closing the week at $34792.77, marking a loss of 1.05%.
However, there is much hope for the US stock market to recover in the coming weeks. More investors ought to dive into the capital market following positivity from the US NFP reports, which showed that more job creation had taken place recently.
