U.S. stocks closed: The Dow fell nearly 50 points, and Chinese concept stocks generally fell, Alibaba fell more than 9% after its results.
Financial World 2023-11-17 05:46:26
According to financial news on November 17, the number of people continuing to apply for unemployment benefits in the United States rose to the highest level in the past two years last week, and the home builders’ confidence index fell to 34 in November, which was lower than all economists’ expectations.
U.S. stocks closed in a narrow range throughout the day. There were mixed gains and losses, with the Dow falling nearly 50 points, the Nasdaq rising slightly by 0.07%, and the S&P rising slightly by 0.14%; most large technology stocks rose, with Microsoft continuing to hit new closing highs for three consecutive trading days, Intel rising by more than 6%, and Cisco falling nearly 10%, Wal-Mart fell more than 8%, Tesla fell nearly 4%; most Chinese concept stocks fell, Alibaba fell more than 9%, Bilibili fell 7.7%, and Xpeng Motors fell 6.6%.
As of the close, the Dow Jones Index fell 45.74 points, or 0.13%, to 34945.47 points; the S&P 500 Index 1 rose 6.09 points, or 0.14% to 4508.97 points; the Nasdaq Composite Index rose 9.84 points, or 0.07%, to 14113.67 points.
The price of gold futures for December delivery on the New York Mercantile Exchange rose $22.90, or 1.17%, to close at $1,987.20 an ounce. West Texas Intermediate crude oil futures for December delivery on the New York Mercantile Exchange fell $3.76, or 4.9%, to settle at $72.90 a barrel. Global benchmark Brent crude oil prices fell $3.76 in January to $77.42 a barrel on ICE Futures Europe, a 4.6% decline. Brent crude and West Texas Intermediate crude both closed at their lowest levels since July 6, according to front-month contracts, according to Dow Jones Market Data. December gasoline fell 4.6% to $2.10 a gallon; December heating oil fell 4.1% to $2.75 a gallon. Natural gas prices for December delivery fell 4.14% to settle at $3.06 per million British thermal units.
Popular Chinese concept stocks generally fell on Thursday, with the Nasdaq Golden Dragon Index falling more than 3%. Connect Biopharmaceuticals rose by more than 11%, Daily Youxian rose by more than 5%, Paimingxin City rose by more than 4%, Qijing Optoelectronics, Gracell Biotech, etc. rose by more than 3%, Tuniu, Tencent Music, Liantuo Biotech, etc. Over 2%, Lanting Jishi, SoYoung, New Oriental, Huya, Fanhua Holdings Group, Cheche Technology, Huirong Technology, etc. rose over 1%, while Cheetah Mobile, Jianpu Technology, and Ehang Intelligent rose slightly.
However, other Chinese stocks experienced substantial declines. Century Internet fell more than 26%, Fulang Group fell more than 13%, Monster Charge fell more than 12%, Alibaba fell more than 9%, Baijiayun, Kingsoft Cloud, NetEase Youdao, etc. fell more than 8%, Lufax Holdings, Bilibili, Bit Digital, Dingdong Maicai, etc. fell more than 7%, Wangli, Xpeng Motors, Quantum Song, JinkoSolar, etc. fell more than 6%.
There is also concern from Russia, where nearly all of the country’s oil exports are priced above price ceilings set by the Group of Seven (G-7) countries. This latest data indicates that Western sanctions are failing to limit Russia’s access to petrodollars.
In the U.S., the housing market is also facing challenges, as high mortgage rates have hammered demand for housing and homebuilder confidence fell to the lowest level this year in November.
All of these factors have contributed to the mixed performance of U.S. stocks, with some large technology companies seeing gains and Chinese concept stocks generally experiencing declines. The market continues to show volatility as it reacts to various economic indicators and international developments.