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Defensive stocks lead Wall Street higher amid recession fears

By Devik Jain and Boleslaw Lasocki (Reuters) - Wall Street's main indexes rose on Thursday as investors turned to consumer staples and healthcare companies to mitigate their risks...

By Devik Jain and Boleslaw Lasocki

(Reuters) - Wall Street's main indexes rose on Thursday as investors turned to consumer staples and healthcare companies to mitigate their risks if the economy falls into recession.

Following the largest interest rate hike by the Federal Reserve in nearly three decades, investors fear economic growth and corporate profits could come under pressure, with the Ukraine war and the supply chain problems adding to the woes.

Big Wall Street banks including Citigroup (NYSE:C) and Goldman Sachs (NYSE:GS) now see a bigger chance of a recession.

Healthcare, consumer staples, real estate and utilities - sectors considered as safer bets within equities - rose more than 1% each.

The S&P 500 confirmed last week it has been in a bear market, clocking a 20% loss from its January closing peak. The tech-heavy Nasdaq has shed more than 30% from its November peak.

"This is a bit of a relief rally... you could call it a dead cat bounce or a bear trap. There is more room to the downside and much more downside risk," said Greg Swenson, founding partner of Brigg Macadam.

A survey released earlier showed U.S. business activity slowed considerably in June as high inflation and declining consumer confidence dampened demand, resulting in a gauge of new orders contracting for the first time in nearly two years.

Another set of data showed the number of Americans filing new claims for unemployment benefits hovered near a five-month high.

Investors are also keeping an eye on comments from Fed Chair Jerome Powell, who is testifying before the House Financial Services Committee.

He said on Wednesday the central bank is not trying to engineer a recession but is committed to bringing prices under control even if doing so risks an economic downturn.

Money markets are pricing in 75 basis point increase in rates next month, followed by a 50 basis point rise in September.

At 10:13 a.m. ET, the Dow Jones Industrial Average was up 61.59 points, or 0.20%, at 30,544.72, the S&P 500 was up 10.48 points, or 0.28%, at 3,770.37, and the Nasdaq Composite was up 50.22 points, or 0.45%, at 11,103.30.

Occidental Petroleum Corp (NYSE:OXY) rose 1.7% after Warren Buffett's Berkshire Hathaway (NYSE:BRKa) Inc bought another 9.6 million shares of the oil company, boosting its stake to 16.3%.

Snowflake Inc climbed 8.1% after J.P. Morgan upgraded the cloud software company's stock to "overweight" from "neutral".

Meanwhile, U.S. corporations with big oversees operations have started to flag risks from dollar, which hit a 20-year high earlier this month.

Accenture (NYSE:ACN) Plc fell 2.1% after IT services company tempered its earnings expectations for the year due to rising inflation and a stronger dollar.

Advancing issues outnumbered decliners by a 1.42-to-1 ratio on the NYSE and by a 1.70-to-1 ratio on the Nasdaq.

The S&P index recorded one new 52-week highs and 35 new lows, while the Nasdaq recorded 20 new highs and 72 new lows.

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26-06-2022 18:32:22 (UTC+7)

EUR/USD

1.0554

+0.0031 (+0.29%)

Summary

Buy

Moving Avg:

Buy (11)

Sell (1)

Indicators:

Buy (5)

Sell (4)

EUR/USD

1.0554

+0.0031 (+0.29%)

Summary

Buy

Moving Avg:

Buy (11)

Sell (1)

Indicators:

Buy (5)

Sell (4)

GBP/USD

1.2272

+0.0012 (+0.10%)

Summary

↑ Sell

Moving Avg:

Buy (1)

Sell (11)

Indicators:

Buy (1)

Sell (6)

USD/JPY

135.23

+0.29 (+0.22%)

Summary

↑ Buy

Moving Avg:

Buy (11)

Sell (1)

Indicators:

Buy (7)

Sell (1)

AUD/USD

0.6944

+0.0055 (+0.80%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (2)

Sell (6)

USD/CAD

1.2891

-0.0103 (-0.79%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (2)

Sell (5)

EUR/JPY

142.71

+0.71 (+0.50%)

Summary

↑ Buy

Moving Avg:

Buy (11)

Sell (1)

Indicators:

Buy (8)

Sell (1)

EUR/CHF

1.0114

-0.0001 (-0.01%)

Summary

↑ Sell

Moving Avg:

Buy (1)

Sell (11)

Indicators:

Buy (1)

Sell (6)

Gold Futures

1,828.10

-1.70 (-0.09%)

Summary

↑ Buy

Moving Avg:

Buy (8)

Sell (4)

Indicators:

Buy (9)

Sell (0)

Silver Futures

21.130

+0.088 (+0.42%)

Summary

Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (4)

Sell (4)

Copper Futures

3.7365

-0.0025 (-0.07%)

Summary

Sell

Moving Avg:

Buy (1)

Sell (11)

Indicators:

Buy (4)

Sell (4)

Crude Oil WTI Futures

107.06

+2.79 (+2.68%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (9)

Brent Oil Futures

113.19

+3.14 (+2.85%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (10)

Natural Gas Futures

6.173

-0.066 (-1.06%)

Summary

↑ Buy

Moving Avg:

Buy (7)

Sell (5)

Indicators:

Buy (10)

Sell (0)

US Coffee C Futures

223.40

-5.60 (-2.45%)

Summary

↑ Buy

Moving Avg:

Buy (10)

Sell (2)

Indicators:

Buy (7)

Sell (0)

Euro Stoxx 50

3,533.17

+96.88 (+2.82%)

Summary

Neutral

Moving Avg:

Buy (4)

Sell (8)

Indicators:

Buy (4)

Sell (4)

S&P 500

3,911.74

+116.01 (+3.06%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (8)

Sell (0)

DAX

13,118.13

+205.54 (+1.59%)

Summary

↑ Sell

Moving Avg:

Buy (2)

Sell (10)

Indicators:

Buy (2)

Sell (7)

FTSE 100

7,208.81

+188.36 (+2.68%)

Summary

↑ Buy

Moving Avg:

Buy (8)

Sell (4)

Indicators:

Buy (7)

Sell (1)

Hang Seng

21,719.06

+445.19 (+2.09%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (6)

Sell (0)

US Small Cap 2000

1,765.74

+54.06 (+3.16%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (9)

Sell (0)

IBEX 35

8,244.10

+137.70 (+1.70%)

Summary

Sell

Moving Avg:

Buy (3)

Sell (9)

Indicators:

Buy (3)

Sell (5)

BASF SE NA O.N.

42.215

+0.785 (+1.89%)

Summary

↑ Buy

Moving Avg:

Buy (11)

Sell (1)

Indicators:

Buy (7)

Sell (1)

Bayer AG NA

57.79

-0.75 (-1.28%)

Summary

↑ Sell

Moving Avg:

Buy (5)

Sell (7)

Indicators:

Buy (2)

Sell (7)

Allianz SE VNA O.N.

181.20

+2.20 (+1.23%)

Summary

↑ Sell

Moving Avg:

Buy (2)

Sell (10)

Indicators:

Buy (2)

Sell (4)

Adidas AG

170.36

+3.30 (+1.98%)

Summary

↑ Sell

Moving Avg:

Buy (1)

Sell (11)

Indicators:

Buy (3)

Sell (5)

Deutsche Lufthansa AG

5.966

-0.310 (-4.94%)

Summary

↑ Sell

Moving Avg:

Buy (4)

Sell (8)

Indicators:

Buy (3)

Sell (6)

Siemens AG Class N

102.62

+3.36 (+3.39%)

Summary

↑ Buy

Moving Avg:

Buy (9)

Sell (3)

Indicators:

Buy (6)

Sell (1)

Deutsche Bank AG

8.919

+0.407 (+4.78%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (8)

Sell (0)

 EUR/USD1.0554Buy
 GBP/USD1.2272↑ Sell
 USD/JPY135.23↑ Buy
 AUD/USD0.6944↑ Sell
 USD/CAD1.2891↑ Sell
 EUR/JPY142.71↑ Buy
 EUR/CHF1.0114↑ Sell
 Gold1,828.10↑ Buy
 Silver21.130Sell
 Copper3.7365Sell
 Crude Oil WTI107.06↑ Sell
 Brent Oil113.19↑ Sell
 Natural Gas6.173↑ Buy
 US Coffee C223.40↑ Buy
 Euro Stoxx 503,533.17Neutral
 S&P 5003,911.74↑ Buy
 DAX13,118.13↑ Sell
 FTSE 1007,208.81↑ Buy
 Hang Seng21,719.06↑ Buy
 Small Cap 20001,765.74↑ Buy
 IBEX 358,244.10Sell
 BASF42.215↑ Buy
 Bayer57.79↑ Sell
 Allianz181.20↑ Sell
 Adidas170.36↑ Sell
 Lufthansa5.966↑ Sell
 Siemens AG102.62↑ Buy
 Deutsche Bank AG8.919↑ Buy
Mua/Bán 1 chỉ SJC
# So hôm qua # Chênh TG
SJC Eximbank6,760/ 6,840
(6,760/ 6,840) # 1,696
SJC HCM6,785/ 6,865
(0/ 0) # 1,716
SJC Hanoi6,785/ 6,867
(0/ 0) # 1,718
SJC Danang6,785/ 6,867
(0/ 0) # 1,718
SJC Nhatrang6,785/ 6,867
(0/ 0) # 1,718
SJC Cantho6,785/ 6,867
(0/ 0) # 1,718
Cập nhật 26-06-2022 18:32:25
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RON 95-V33.47034.130
RON 95-III32.87033.520
E5 RON 92-II31.30031.920
DO 0.05S30.01030.610
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$ Tỷ giá Vietcombank
Ngoại tệMua vàoBán ra
USD23.080,0023.390,00
EUR23.828,4125.163,09
GBP27.747,3328.930,97
JPY167,31177,13
KRW15,4518,82
Cập nhật lúc 18:26:01 26/06/2022
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