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Wall Street dips as choppy recovery, looming tax hikes weigh on sentiment

By Stephen Culp NEW YORK (Reuters) - Wall Street lost ground on Tuesday as investors looked past lower-than-expected inflation data, focusing instead on economic uncertainties and...
Wall Street dips as choppy recovery, looming tax hikes weigh on sentiment © Reuters. FILE PHOTO: American flags hang from the facade of the New York Stock Exchange (NYSE) building after the start of Thursday's trading session in Manhattan in New York City, New York, U.S., January 28, 2021. REUTERS/Mike Segar/File Photo

By Stephen Culp

NEW YORK (Reuters) - Wall Street lost ground on Tuesday as investors looked past lower-than-expected inflation data, focusing instead on economic uncertainties and growing chances of a corporate tax rate hike.

All three major U.S. indexes initially bumped higher following the Labor Department's consumer price index report, but optimism quickly faded and they turned negative in a reminder that September is a historically rough month for stocks.

Dropping yields for benchmark U.S. Treasuries pressured financial stocks and investor favor pivoted back to growth at the expense of value. [US/]

"We're in a seesaw market," said Greg Bassuk, chief executive at AXS Investments in Port Chester, New York. "Until there is more consistency in the trajectory of economic recovery, the double rotation trades we're seeing right now will continue."

The advent of the highly contagious Delta COVID variant has driven an increase in bearish sentiment regarding the recovery from the global health crisis, and many now expect a substantial correction in stock markets by the end of the year.

"Investors are still cautious," Bassuk added. "Besides the economic data, they care about the continued spread with delta variants, uncertainty with the Fed, as well as geopolitical concerns."

The CPI report delivered a lower-than-consensus August reading, a deceleration that supports Federal Reserve Chairman Jerome Powell's assertion that spiking inflation is transitory and calms market fears that the central bank will begin tightening monetary policy sooner than expected.

The long expected corporate tax hikes, to 26.5% from 21% if Democrats prevail, are coming nearer to fruition with U.S. President Joe Biden's $3.5 trillion budget package inching closer to passage.

The Dow Jones Industrial Average fell 226.96 points, or 0.65%, to 34,642.67; the S&P 500 lost 16.76 points, or 0.38%, at 4,451.97; and the Nasdaq Composite dropped 22.32 points, or 0.15%, to 15,083.26.

Financial stocks suffered the biggest percentage drop among the 11 major sectors in the S&P 500, while healthcare led gainers.

Apple Inc (NASDAQ:AAPL) unveiled its iPhone 13 and added new features to its iPad and Apple Watch gadgets in its biggest product launch event of the year as the company faces increased scrutiny in the courts over its business practices. Its shares were last down 0.7%.

Intuit Inc (NASDAQ:INTU) gained 2.2% after the TurboTax maker announced it would acquire digital marketing company Mailchimp for $12 billion.

CureVac slid 8.3% after the German biotechnology company canceled manufacturing deals for its experimental COVID-19 vaccine.

Declining issues outnumbered advancing ones on the NYSE by a 1.74-to-1 ratio; on Nasdaq, a 1.83-to-1 ratio favored decliners.

The S&P 500 posted two new 52-week highs and two new lows; the Nasdaq Composite recorded 45 new highs and 71 new lows.

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22-09-2021 08:25:31 (UTC+7)

EUR/USD

1.1725

+0.0002 (+0.02%)

Summary

Sell

Moving Avg:

Buy (5)

Sell (7)

Indicators:

Buy (3)

Sell (4)

EUR/USD

1.1725

+0.0002 (+0.02%)

Summary

Sell

Moving Avg:

Buy (5)

Sell (7)

Indicators:

Buy (3)

Sell (4)

GBP/USD

1.3673

+0.0014 (+0.11%)

Summary

Neutral

Moving Avg:

Buy (8)

Sell (4)

Indicators:

Buy (3)

Sell (5)

USD/JPY

109.43

+0.21 (+0.20%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (5)

Sell (2)

AUD/USD

0.7260

+0.0029 (+0.40%)

Summary

Neutral

Moving Avg:

Buy (8)

Sell (4)

Indicators:

Buy (3)

Sell (6)

USD/CAD

1.2787

-0.0029 (-0.22%)

Summary

Sell

Moving Avg:

Buy (3)

Sell (9)

Indicators:

Buy (2)

Sell (3)

EUR/JPY

128.30

+0.27 (+0.21%)

Summary

Buy

Moving Avg:

Buy (10)

Sell (2)

Indicators:

Buy (5)

Sell (2)

EUR/CHF

1.0836

+0.0012 (+0.11%)

Summary

Neutral

Moving Avg:

Buy (7)

Sell (5)

Indicators:

Buy (3)

Sell (5)

Gold Futures

1,775.25

-2.95 (-0.17%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (2)

Sell (7)

Silver Futures

22.725

+0.114 (+0.50%)

Summary

Sell

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (1)

Sell (6)

Copper Futures

4.1935

+0.0835 (+2.03%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (10)

Sell (0)

Crude Oil WTI Futures

71.11

+0.62 (+0.88%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (8)

Sell (0)

Brent Oil Futures

74.87

+0.18 (+0.24%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (8)

Sell (0)

Natural Gas Futures

4.829

+0.026 (+0.54%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (10)

Sell (0)

US Coffee C Futures

183.70

+1.10 (+0.60%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (9)

Sell (0)

Euro Stoxx 50

4,097.51

+53.88 (+1.33%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (7)

Sell (0)

S&P 500

4,354.18

-3.55 (-0.08%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (8)

DAX

15,348.53

+216.47 (+1.43%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (7)

Sell (0)

FTSE 100

6,980.98

+77.07 (+1.12%)

Summary

↑ Buy

Moving Avg:

Buy (11)

Sell (1)

Indicators:

Buy (10)

Sell (0)

Hang Seng

24,221.54

+122.40 (+0.51%)

Summary

Neutral

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (2)

Sell (2)

US Small Cap 2000

2,190.36

+8.15 (+0.37%)

Summary

↑ Sell

Moving Avg:

Buy (5)

Sell (7)

Indicators:

Buy (1)

Sell (6)

IBEX 35

8,756.00

+100.60 (+1.16%)

Summary

Neutral

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (5)

Sell (1)

BASF SE NA O.N.

62.280

+0.620 (+1.01%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (1)

Sell (8)

Bayer AG NA

45.70

+0.47 (+1.04%)

Summary

↑ Buy

Moving Avg:

Buy (7)

Sell (5)

Indicators:

Buy (7)

Sell (1)

Allianz SE VNA O.N.

187.45

+3.59 (+1.95%)

Summary

↑ Buy

Moving Avg:

Buy (7)

Sell (5)

Indicators:

Buy (8)

Sell (0)

Adidas AG

281.90

+1.38 (+0.49%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (1)

Sell (6)

Deutsche Lufthansa AG

8.377

-0.287 (-3.31%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (2)

Sell (8)

Siemens AG Class N

145.32

+3.06 (+2.15%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (2)

Sell (9)

Deutsche Bank AG

10.095

-0.135 (-1.32%)

Summary

Buy

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (6)

Sell (3)

 EUR/USD1.1725Sell
 GBP/USD1.3673Neutral
 USD/JPY109.43↑ Buy
 AUD/USD0.7260Neutral
 USD/CAD1.2787Sell
 EUR/JPY128.30Buy
 EUR/CHF1.0836Neutral
 Gold1,775.25↑ Sell
 Silver22.725Sell
 Copper4.1935↑ Buy
 Crude Oil WTI71.11↑ Buy
 Brent Oil74.87↑ Buy
 Natural Gas4.829↑ Buy
 US Coffee C183.70↑ Buy
 Euro Stoxx 504,097.51↑ Buy
 S&P 5004,354.18↑ Sell
 DAX15,348.53↑ Buy
 FTSE 1006,980.98↑ Buy
 Hang Seng24,221.54Neutral
 Small Cap 20002,190.36↑ Sell
 IBEX 358,756.00Neutral
 BASF62.280↑ Sell
 Bayer45.70↑ Buy
 Allianz187.45↑ Buy
 Adidas281.90↑ Sell
 Lufthansa8.377↑ Sell
 Siemens AG145.32↑ Sell
 Deutsche Bank AG10.095Buy
Mua/Bán 1 chỉ SJC
# So hôm qua # Chênh TG
SJC Eximbank5,660/ 5,710
(10/ 10) # 822
SJC HCM5,650/ 5,715
(5/ 5) # 828
SJC Hanoi5,650/ 5,717
(5/ 5) # 830
SJC Danang5,650/ 5,717
(5/ 5) # 830
SJC Nhatrang5,650/ 5,717
(5/ 5) # 830
SJC Cantho5,650/ 5,717
(5/ 5) # 830
Cập nhật 22-09-2021 08:25:34
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ↀ Giá vàng thế giới
$1,774.62+9.50.54%
Live 24 hour Gold Chart
ʘ Giá bán lẻ xăng dầu
Sản phẩmVùng 1Vùng 2
RON 95-IV2149021910
RON 95-II,III2139021810
E5 RON 92-II2014020540
DO 0.05S1602016340
DO 0,001S-V1637016690
Dầu hỏa1508015380
ↂ Giá dầu thô thế giới
WTI$71.02-0.28-0.40%
Brent$74.16+0.520.69%
$ Tỷ giá Vietcombank
Ngoại tệMua vàoBán ra
USD22.630,0022.860,00
EUR26.007,0827.360,60
GBP30.295,3831.561,13
JPY203,28215,04
KRW16,6220,24
Cập nhật lúc 08:20:44 22/09/2021
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