Home Business Wall Street: Nyse in the throes of technical problems. Several suspended titles: the names

Wall Street: Nyse in the throes of technical problems. Several suspended titles: the names

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Wall Street: Nyse in the throes of technical problems.  Several suspended titles: the names

Turbulent start to the session for Wall Street, with the Nyse hit by technical problems.

Several shares suspended on the US Stock Exchange: the CNBC website mentions the names of Morgan Stanley, Verizon, AT&T, Nike and McDonald’s, explaining that several stocks have been suspended due to excess volatility, following excessively violent movements that occurred within start of today’s Wall Street session.

Yesterday was a positive day above all for the Nasdaq: the US stock exchange’s technological index closed the session on the eve of the day with a strong increase, over 2% for the second consecutive session, after last Friday’s +2.66%.

The fever that broke out in technology stocks also had its effects on the VanEck Semiconductor ETF (SMH) which jumped 4.72% yesterday, returning to its best session since November 30 last year.

On Wall Street, the buys involved Big Techs such as Tesla and Apple, shot up respectively by 7.7% and 3.2%, in the wake of the good news coming from China, now firmly intending to continue in the reopening phase of its economy. Netflix, Meta and Alphabet also did very well.

The S&P 500 and the Dow Jones gained 1.19% and 0.76% respectively in yesterday’s session, while the Nasdaq jumped 2.01%.

In addition to US quarterly reports, the focus remains on Jerome Powell’s Fed’s next moves.

According to data from the CME Group, the markets are pricing in a 99.7% probability of a 25 basis point monetary tightening by the Fed on February 1, which would bring the cost of US money to the new range including between 4.5% and 4.75%.

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In the heat of the US quarterly season, the GE conglomerate announced that it finished the fourth quarter of 2022 with earnings per share of $1.24, higher than the $1.13 expected by the consensus of analysts interviewed by Refinitiv. Revenue came in at $21.79 billion, better than the $21.59 billion forecast.

The stock was up more than 2% in premarket on Wall Street before veering into the red.

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