Wall Street report for week 46 of 2021
Wall Street and its important indices saw some quick movements of points in the past week despite some expectation beating earnings performance from some of the Humongously big-size retailers all across the United States. The markets were volatile and it's very much visible through the steep movements of the major indices.
Let’s have a look at the weekly performance of the Dow Jones Industrial Average, Nasdaq Composite, and S&P 500 in the form of charts and numbers.
Dow Jones Industrial Average:
The Dow Jones Industrial Average has got literally hammered right and left with absolutely no sign of recovery on the last day of the week. The index lost 526 points and the loss of points has basically accelerated in the second half of the week. The free-fall of points with bumpy movements throughout the week ended the index in the red zone at 35,601 points. As long as I can say the dip in points is likely to continue in the upcoming week too before the recovery momentum kicks in from investors.
Nasdaq Composite has also had a bumpy week but predominantly towards the upward direction which is a good thing. The rise in points increased as the week progressed to end the index in the green zone at 16,057 points. Also, the index has seen a thin increase of 162 points on a week-over-week basis. One of the reasons for the rising in points seems to be the result of a good earnings announcement from the big box American retailers.
S and P 500:
As you can see in the chart above the movement of points throughout the week has been sharp and steep in both directions giving us a glimpse of underlying business volatility. Luckily the index ended in the green zone at 4,697 points with only an increase of 8 points in comparison with last week's performance. There is a possibility of S and P 500 starting the upcoming week in negative based on its underlying business's last trading session trend.
Among the three indices discussed in the post, the free-fall in Dow Jones Industrial Average is the most concerning one since it's a direct indication of America's thirty prominent companies.
Hope the index will be back on track in the upcoming week with a good recovery momentum.
Thank you for reading this, and God Bless Everyone.
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