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Dow hits record high on cyclical boost ahead of Fed minutes; tech falls

Wednesday, January 5, 2022
Dow hits record high on cyclical boost ahead of Fed minutes; tech falls © Reuters. FILE PHOTO: The Wall St. sign is seen outside the New York Stock Exchange (NYSE) in New York, U.S., December 17, 2019. REUTERS/Brendan McDermid

By Devik Jain and Shreyashi Sanyal

(Reuters) -The Dow hit a record high on Wednesday as investors swapped technology stocks for economy-linked cyclicals that stand to benefit from a high interest rate environment, ahead of minutes from the Federal Reserve's December meeting.

Seven of the 11 major S&P sectors advanced in early afternoon trading with value-oriented energy, financials and materials shares leading the pack.

Tech giants including Apple Inc (NASDAQ:AAPL) Google-owner Alphabet (NASDAQ:GOOGL) Inc, Amazon.com (NASDAQ:AMZN), Meta Platforms and Microsoft Corp (NASDAQ:MSFT) fell between 0.5% and 2.2% to weigh the most on the S&P 500 and the Nasdaq indexes.

Growth shares were also under pressure from a recent rise in U.S. Treasury yields, sparked by growing angst towards the prospect of interest rate hikes by the Fed to curb inflation. [US/]

"We're seeing a decided shift from technology as the yields on the 10-year jumped," said John Lynch, chief investment officer for Comerica (NYSE:CMA) Wealth Management.

"You just saw some of those positions unwind but nonetheless, higher market interest rates are weighing on technology."

The U.S. central bank said last month it would end its pandemic-era bond buying in 2022, signaling at least three interest rate hikes for the year. Minutes from the meeting are due at 1400 ET/1900 GMT.

Salesforce.com Inc (NYSE:CRM) slid 5.4% after UBS lowered its rating on the stock to "neutral" from "buy".

At 12:07 p.m. ET the Dow Jones Industrial Average was up 92.07 points, or 0.25%, at 36,891.72, the S&P 500 was down 8.05 points, or 0.17%, at 4,785.49 and the Nasdaq Composite was down 144.08 points, or 0.92%, at 15,478.64.

Intel Corp (NASDAQ:INTC) jumped 4.1% and was the top percentage gainer on the Dow after Northland Capital Markets upgraded the chipmaker's stock to "outperform" from "market perform".

The ADP National Employment report showed private payrolls increased by 807,000 jobs last month, more than double of what economists polled by Reuters had forecast.

The report comes ahead of the Labor Department's more comprehensive and closely watched nonfarm payrolls data for December on Friday.

Peloton Interactive (NASDAQ:PTON) edged 0.8% lower after J.P. Morgan cut its price target on the fitness firm's stock on expectations of softer demand.

AT&T Inc (NYSE:T) rose 3.8% after the U.S. telecom company added 880,000 monthly paying phone subscribers in the fourth quarter.

Meanwhile, Citigroup (NYSE:C) analysts said they now expect the S&P 500 index to touch 5,100 by the end of 2022 on the back of strong corporate earnings.

Advancing issues outnumbered decliners by a 1.17-to-1 ratio on the NYSE. Declining issues outnumbered advancers for a 1.38-to-1 ratio on the Nasdaq. The S&P index recorded 59 new 52-week highs and no new low, while the Nasdaq recorded 69 new highs and 109 new lows.

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24-01-2022 06:13:52 (UTC+7)

EUR/USD

1.1321

-0.0019 (-0.17%)

Summary

Neutral

Moving Avg:

Buy (3)

Sell (9)

Indicators:

Buy (3)

Sell (3)

EUR/USD

1.1321

-0.0019 (-0.17%)

Summary

Neutral

Moving Avg:

Buy (3)

Sell (9)

Indicators:

Buy (3)

Sell (3)

GBP/USD

1.3507

-0.0047 (-0.35%)

Summary

↑ Buy

Moving Avg:

Buy (8)

Sell (4)

Indicators:

Buy (8)

Sell (0)

USD/JPY

113.75

+0.07 (+0.06%)

Summary

↑ Buy

Moving Avg:

Buy (11)

Sell (1)

Indicators:

Buy (9)

Sell (2)

AUD/USD

0.7140

-0.0043 (-0.60%)

Summary

↑ Buy

Moving Avg:

Buy (8)

Sell (4)

Indicators:

Buy (9)

Sell (0)

USD/CAD

1.2598

+0.0017 (+0.14%)

Summary

↑ Sell

Moving Avg:

Buy (2)

Sell (10)

Indicators:

Buy (0)

Sell (9)

EUR/JPY

128.76

-0.14 (-0.11%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (10)

Sell (0)

EUR/CHF

1.0320

-0.0013 (-0.13%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (8)

Gold Futures

1,839.00

+7.20 (+0.39%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (9)

Silver Futures

24.095

-0.225 (-0.93%)

Summary

↑ Sell

Moving Avg:

Buy (1)

Sell (11)

Indicators:

Buy (0)

Sell (8)

Copper Futures

4.4428

-0.0812 (-1.79%)

Summary

↑ Sell

Moving Avg:

Buy (1)

Sell (11)

Indicators:

Buy (1)

Sell (6)

Crude Oil WTI Futures

85.00

-0.14 (-0.16%)

Summary

↑ Buy

Moving Avg:

Buy (8)

Sell (4)

Indicators:

Buy (10)

Sell (1)

Brent Oil Futures

87.00

-0.08 (-0.09%)

Summary

↑ Buy

Moving Avg:

Buy (8)

Sell (4)

Indicators:

Buy (9)

Sell (0)

Natural Gas Futures

3.752

-0.030 (-0.79%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (5)

Sell (2)

US Coffee C Futures

233.53

-4.37 (-1.84%)

Summary

Sell

Moving Avg:

Buy (4)

Sell (8)

Indicators:

Buy (2)

Sell (4)

Euro Stoxx 50

4,153.85

-75.71 (-1.79%)

Summary

↑ Buy

Moving Avg:

Buy (9)

Sell (3)

Indicators:

Buy (7)

Sell (0)

S&P 500

4,397.93

-84.80 (-1.89%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (9)

DAX

15,365.93

-237.95 (-1.52%)

Summary

↑ Buy

Moving Avg:

Buy (8)

Sell (4)

Indicators:

Buy (7)

Sell (0)

FTSE 100

7,416.22

-77.91 (-1.04%)

Summary

↑ Buy

Moving Avg:

Buy (8)

Sell (4)

Indicators:

Buy (8)

Sell (0)

Hang Seng

24,656.46

-309.09 (-1.24%)

Summary

↑ Buy

Moving Avg:

Buy (10)

Sell (2)

Indicators:

Buy (5)

Sell (1)

US Small Cap 2000

1,987.92

-36.12 (-1.78%)

Summary

Buy

Moving Avg:

Buy (9)

Sell (3)

Indicators:

Buy (5)

Sell (3)

IBEX 35

8,553.50

-141.20 (-1.62%)

Summary

↑ Buy

Moving Avg:

Buy (8)

Sell (4)

Indicators:

Buy (7)

Sell (0)

BASF SE NA O.N.

65.330

-0.850 (-1.28%)

Summary

↑ Buy

Moving Avg:

Buy (8)

Sell (4)

Indicators:

Buy (8)

Sell (0)

Bayer AG NA

51.20

-0.42 (-0.81%)

Summary

↑ Buy

Moving Avg:

Buy (10)

Sell (2)

Indicators:

Buy (9)

Sell (0)

Allianz SE VNA O.N.

219.85

-1.85 (-0.83%)

Summary

↑ Buy

Moving Avg:

Buy (8)

Sell (4)

Indicators:

Buy (8)

Sell (0)

Adidas AG

245.85

-4.75 (-1.90%)

Summary

↑ Buy

Moving Avg:

Buy (8)

Sell (4)

Indicators:

Buy (11)

Sell (0)

Deutsche Lufthansa AG

6.760

-0.149 (-2.16%)

Summary

↑ Buy

Moving Avg:

Buy (10)

Sell (2)

Indicators:

Buy (8)

Sell (0)

Siemens AG Class N

141.49

-3.03 (-2.10%)

Summary

Neutral

Moving Avg:

Buy (5)

Sell (7)

Indicators:

Buy (5)

Sell (2)

Deutsche Bank AG

11.130

-0.348 (-3.03%)

Summary

↑ Buy

Moving Avg:

Buy (8)

Sell (4)

Indicators:

Buy (8)

Sell (0)

 EUR/USD1.1321Neutral
 GBP/USD1.3507↑ Buy
 USD/JPY113.75↑ Buy
 AUD/USD0.7140↑ Buy
 USD/CAD1.2598↑ Sell
 EUR/JPY128.76↑ Buy
 EUR/CHF1.0320↑ Sell
 Gold1,839.00↑ Sell
 Silver24.095↑ Sell
 Copper4.4428↑ Sell
 Crude Oil WTI85.00↑ Buy
 Brent Oil87.00↑ Buy
 Natural Gas3.752↑ Buy
 US Coffee C233.53Sell
 Euro Stoxx 504,153.85↑ Buy
 S&P 5004,397.93↑ Sell
 DAX15,365.93↑ Buy
 FTSE 1007,416.22↑ Buy
 Hang Seng24,656.46↑ Buy
 Small Cap 20001,987.92Buy
 IBEX 358,553.50↑ Buy
 BASF65.330↑ Buy
 Bayer51.20↑ Buy
 Allianz219.85↑ Buy
 Adidas245.85↑ Buy
 Lufthansa6.760↑ Buy
 Siemens AG141.49Neutral
 Deutsche Bank AG11.130↑ Buy
Mua/Bán 1 chỉ SJC
# So hôm qua # Chênh TG
SJC Eximbank6,170/ 6,210
(50/ 50) # 1,154
SJC HCM6,150/ 6,210
(27/ 17) # 1,155
SJC Hanoi6,150/ 6,212
(27/ 17) # 1,157
SJC Danang6,150/ 6,212
(27/ 17) # 1,157
SJC Nhatrang6,150/ 6,212
(27/ 17) # 1,157
SJC Cantho6,150/ 6,212
(27/ 17) # 1,157
Cập nhật 24-01-2022 06:15:08
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ↀ Giá vàng thế giới
$1,839.28+4.650.25%
Live 24 hour Gold Chart
ʘ Giá bán lẻ xăng dầu
Sản phẩmVùng 1Vùng 2
RON 95-IV2486025350
RON 95-II,III
E5 RON 92-II2359024060
DO 0.05S1890019270
DO 0,001S-V1925019630
Dầu hỏa1779018140
ↂ Giá dầu thô thế giới
WTI$84.78+0.840.98%
Brent$87.10+0.80.91%
$ Tỷ giá Vietcombank
Ngoại tệMua vàoBán ra
USD22.500,0022.810,00
EUR25.000,4426.401,93
GBP29.901,5831.178,49
JPY193,25204,57
KRW16,4019,98
Cập nhật lúc 18:09:51 24/01/2022
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