Wall Street contrasted, in the grip of geopolitics and at attention due to the increasingly hawkish attitude of the Fed. At 15.30 Italian time, the Dow Jones fell by 0.37% to 34.730 points; the S&P 500 fell 0.10% to 4,539, while the Nasdaq jumped 0.49% to 14,236 points, supported by Tesla’s rally among others.
In general, global stock markets are hoping for a near diplomatic solution to the conflict between Russia and Ukraine, following the words uttered by Ukrainian President Volodymyr Zelensky, who said that his country is ready to discuss the possibility of declaring itself a state. neutral and eventually reach a peace agreement with Vladimir Putin.
Zelensky pointed out that any deal should still be guaranteed by third parties and approved by his people in a referendum.
Negotiations between the parties continue, with Ukrainian and Russian delegations meeting from today until at least March 30 in Turkey.
It must be said that the US stock market has largely recovered since last February 24, the day in which Vladimir Putin’s Russia invaded Ukraine, starting the conflict.
The Dow Jones and the S&P 500 are back from their second consecutive week of gains, and the S&P 500 has more than made up for its losses. The Nasdaq is also growing on a weekly basis. In the past two weeks, the Nasdaq 100 has gained nearly 11%.
Companies reporting quarterly reports for the first three months of 2022 this week will include BioNTech, Micron and Walgreens Boots Alliance.
A major market mover from the macroeconomic front will be the publication, next Friday, of the US employment report for March.
Meanwhile, among the titles protagonists of the session, Tesla stands out, precisely, ready to launch a new stock split – share split – to pay dividends to its shareholders. This is what emerged from the documents that the electric car giant led by Elon Musk filed with the Sec. The stock marks a rally of around 5%.
The US Securities Authority announced in particular that Tesla will ask the annual meeting of shareholders “to increase the authorized number of common shares … in order to make possible a split of the company’s common stock in the form of a stock dividend” .
The Apple stock is under pressure. The rumors reported by the Japanese financial newspaper Nikkei weigh heavily, according to which the American giant will cut the planned production for its iPhone SE by 20%, during the next quarter. The decision would be triggered due to weaker than expected demand.
On the fixed income front, US Treasury rates drop from 2.5% exceeded last Friday’s session, down to 2.459%.