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Nasdaq, S&P fall with tech stocks out of favor

By Bansari Mayur Kamdar, Shreyashi Sanyal and Sinéad Carew (Reuters) - The Nasdaq and S&P 500 were falling on Thursday as investors took profits from technology stocks ahead of...
Nasdaq, S&P fall with tech stocks out of favor © Reuters. Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., January 12, 2022. REUTERS/Brendan McDermid

By Bansari Mayur Kamdar, Shreyashi Sanyal and Sinéad Carew

(Reuters) - The Nasdaq and S&P 500 were falling on Thursday as investors took profits from technology stocks ahead of the fourth quarter earnings season and after a three-session rally.

Among the S&P's 11 major sectors, technology was the biggest drag on the index followed by healthcare and then consumer discretionary.

The technology-laden Nasdaq had risen 1.7% in the last three sessions after falling 5.7% in the four prior trading days as investors watched the direction of interest rates. The prospect of Federal Reserve interest rate hikes this year is a concern to growth sectors such as technology and consumer discretionary.

Even though U.S. Treasury 10-year yields were falling on Thursday, investors went ahead and took their profits in Nasdaq stocks, according to Sameer Samana, senior global market strategist at Wells Fargo (NYSE:WFC) Investment Institute in St. Louis.

"We had a pretty nice rebound in the Nasdaq the last few days, so there might just be some lingering nervousness around rates the Fed and some profit taking, especially ahead of earnings," said the strategist.

By 2:17 p.m. ET (1917 GMT), the Dow Jones Industrial Average rose 33.31 points, or 0.09%, to 36,323.63, the S&P 500 lost 32.33 points, or 0.68%, to 4,694.02 and the Nasdaq Composite dropped 221.89 points, or 1.46%, to 14,966.51.

Companies will report results on the final quarter of 2021 in the coming weeks with banks JPMorgan Chase (NYSE:JPM), Citigroup (NYSE:C) and Wells Fargo due to get the ball rolling on Friday, while big technology companies report next week.

Year-over-year earnings growth from S&P 500 companies were expected to be lower in the fourth quarter compared with the first three quarters but still strong at 22.4%, according to IBES data from Refinitiv.

With the focus on Thursday turning to more value-oriented stocks, the S&P 500 banks index rose 0.6%, hitting a record high during the session.

Retail investors have also raised their exposure to bank stocks ahead of the earnings announcements, according to Vanda (NASDAQ:VNDA) Research's weekly report on retail flows.

Delta Air Lines (NYSE:DAL) gained 3.4% after beating estimates for fourth-quarter earnings. Its chief executive also predicted a swift recovery from turbulence caused by the Omicron coronavirus variant, also helping to lift the S&P 1500 Airlines index by 3.4%.

Also, data showed the producer price index (PPI) rise 0.2% last month after advancing 0.8% in November while in the 12 months through December, the PPI rose 9.7% versus the 9.8% forecast of economists polled by Reuters.

The PPI figures come a day after Wall Street indexes cheered consumer inflation numbers that hit a 40-year high but largely met market expectations.

Fed Governor Lael Brainard said the U.S. central bank would be in a position to start what could be several interest rate hikes this year "as soon as" it completes winding down its bond purchases, expected to happen in March.

Wells Fargo followed Goldman Sachs (NYSE:GS), JPMorgan and Deutsche Bank (DE:DBKGn) in forecasting that the Fed might raise interest rates four times this year.

Advancing issues outnumbered declining ones on the NYSE by a 1.25-to-1 ratio; on Nasdaq, a 1.51-to-1 ratio favored decliners.

The S&P 500 posted 44 new 52-week highs and no new lows; the Nasdaq Composite recorded 69 new highs and 300 new lows.

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24-01-2022 05:48:36 (UTC+7)

EUR/USD

1.1317

-0.0023 (-0.20%)

Summary

↑ Sell

Moving Avg:

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Sell (12)

Indicators:

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Sell (8)

EUR/USD

1.1317

-0.0023 (-0.20%)

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↑ Sell

Moving Avg:

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Indicators:

Buy (2)

Sell (8)

GBP/USD

1.3495

-0.0059 (-0.44%)

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↑ Sell

Moving Avg:

Buy (2)

Sell (10)

Indicators:

Buy (0)

Sell (9)

USD/JPY

113.66

-0.02 (-0.02%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (8)

Sell (1)

AUD/USD

0.7131

-0.0052 (-0.72%)

Summary

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Moving Avg:

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Sell (12)

Indicators:

Buy (1)

Sell (7)

USD/CAD

1.2612

+0.0031 (+0.25%)

Summary

Neutral

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (5)

Sell (1)

EUR/JPY

128.63

-0.28 (-0.22%)

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Sell (12)

Indicators:

Buy (1)

Sell (6)

EUR/CHF

1.0320

-0.0013 (-0.13%)

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↑ Sell

Moving Avg:

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Sell (12)

Indicators:

Buy (2)

Sell (6)

Gold Futures

1,839.45

+7.65 (+0.42%)

Summary

Buy

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (6)

Sell (2)

Silver Futures

24.137

-0.183 (-0.75%)

Summary

Neutral

Moving Avg:

Buy (6)

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Buy (3)

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Copper Futures

4.4455

-0.0785 (-1.74%)

Summary

Sell

Moving Avg:

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Sell (8)

Indicators:

Buy (2)

Sell (5)

Crude Oil WTI Futures

84.84

-0.30 (-0.35%)

Summary

Buy

Moving Avg:

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Sell (6)

Indicators:

Buy (7)

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Brent Oil Futures

86.81

-0.27 (-0.31%)

Summary

Buy

Moving Avg:

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Natural Gas Futures

3.735

-0.047 (-1.24%)

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↑ Buy

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Sell (5)

Indicators:

Buy (6)

Sell (1)

US Coffee C Futures

234.15

-3.75 (-1.58%)

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↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (1)

Sell (7)

Euro Stoxx 50

4,135.25

-94.31 (-2.23%)

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↑ Sell

Moving Avg:

Buy (3)

Sell (9)

Indicators:

Buy (1)

Sell (9)

S&P 500

4,397.93

-84.80 (-1.89%)

Summary

↑ Sell

Moving Avg:

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Sell (12)

Indicators:

Buy (0)

Sell (9)

DAX

15,300.05

-303.83 (-1.95%)

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↑ Sell

Moving Avg:

Buy (4)

Sell (8)

Indicators:

Buy (1)

Sell (6)

FTSE 100

7,391.31

-102.82 (-1.37%)

Summary

↑ Sell

Moving Avg:

Buy (2)

Sell (10)

Indicators:

Buy (0)

Sell (8)

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

8,514.28

-180.42 (-2.08%)

Summary

↑ Sell

Moving Avg:

Buy (4)

Sell (8)

Indicators:

Buy (0)

Sell (8)

BASF SE NA O.N.

65.080

-1.100 (-1.66%)

Summary

↑ Sell

Moving Avg:

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Sell (12)

Indicators:

Buy (0)

Sell (9)

Bayer AG NA

50.79

-0.83 (-1.61%)

Summary

↑ Sell

Moving Avg:

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Sell (12)

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Buy (1)

Sell (6)

Allianz SE VNA O.N.

218.80

-2.90 (-1.31%)

Summary

↑ Sell

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Sell (12)

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Buy (0)

Sell (8)

Adidas AG

244.75

-5.85 (-2.33%)

Summary

↑ Sell

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Buy (0)

Sell (12)

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Buy (0)

Sell (10)

Deutsche Lufthansa AG

6.699

-0.210 (-3.04%)

Summary

↑ Sell

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Sell (12)

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Siemens AG Class N

141.78

-2.74 (-1.90%)

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↑ Sell

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Buy (0)

Sell (12)

Indicators:

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Sell (7)

Deutsche Bank AG

11.053

-0.425 (-3.70%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (7)

 EUR/USD1.1317↑ Sell
 GBP/USD1.3495↑ Sell
 USD/JPY113.66↑ Buy
 AUD/USD0.7131↑ Sell
 USD/CAD1.2612Neutral
 EUR/JPY128.63↑ Sell
 EUR/CHF1.0320↑ Sell
 Gold1,839.45Buy
 Silver24.137Neutral
 Copper4.4455Sell
 Crude Oil WTI84.84Buy
 Brent Oil86.81Buy
 Natural Gas3.735↑ Buy
 US Coffee C234.15↑ Sell
 Euro Stoxx 504,135.25↑ Sell
 S&P 5004,397.93↑ Sell
 DAX15,300.05↑ Sell
 FTSE 1007,391.31↑ Sell
 Hang Seng24,656.46↑ Buy
 Small Cap 20001,987.92Buy
 IBEX 358,514.28↑ Sell
 BASF65.080↑ Sell
 Bayer50.79↑ Sell
 Allianz218.80↑ Sell
 Adidas244.75↑ Sell
 Lufthansa6.699↑ Sell
 Siemens AG141.78↑ Sell
 Deutsche Bank AG11.053↑ Sell
Mua/Bán 1 chỉ SJC
# So hôm qua # Chênh TG
SJC Eximbank6,170/ 6,210
(50/ 50) # 1,159
SJC HCM6,150/ 6,210
(27/ 17) # 1,157
SJC Hanoi6,150/ 6,212
(27/ 17) # 1,159
SJC Danang6,150/ 6,212
(27/ 17) # 1,159
SJC Nhatrang6,150/ 6,212
(27/ 17) # 1,159
SJC Cantho6,150/ 6,212
(27/ 17) # 1,159
Cập nhật 24-01-2022 05:48:38
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ↀ Giá vàng thế giới
$1,838.57+3.940.21%
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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$84.46+1.161.36%
Brent$86.75+1.151.31%
$ 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 17:41:46 24/01/2022
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