Wednesday, 24 February 2021: US equity markets settled with modest gains.
Feb 23, 2021 ·
5m 46s
![Wednesday, 24 February 2021: US equity markets settled with modest gains.](https://d3wo5wojvuv7l.cloudfront.net/t_square_limited_480/images.spreaker.com/original/cd28525abfd602a496c37176cbece14f.jpg)
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Description
US equity markets settled with modest gains after staging a big intra-day recovering following Federal Reserve Chair Jerome Powell’s dovish congressional testimony that relieved some concerns around higher interest rates...
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US equity markets settled with modest gains after staging a big intra-day recovering following Federal Reserve Chair Jerome Powell’s dovish congressional testimony that relieved some concerns around higher interest rates and inflation – Dow eked out a +15-point or +0.05% gain, erasing an earlier decline of over >360-points. The broader S&P500 added +0.13%, recovering from an earlier -1.8% drop. Energy (up +1.61%) once again sat atop the primary sector leaderboard and led seven of the eleven primary sectors higher. Consumer Discretionary (down -0.49%) and Information Technology (-0.25%) were the worst performing sectors. Tesla Inc settled -2.2% lower and moved into negative territory for the year, dropping as much as -13% earlier in the session. The Nasdaq lost -0.52%, paring an earlier 3.9% decline that saw the technology-centric index fall below its 50-day moving average for the first time since 3 November last year. Apple Inc dipped -0.11% after sliding as much as -6% earlier in the session hosted their annual shareholders meeting The small capitalisation Russell 2000 index fell -0.88%.
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Information
Author | Morgans Financial Limited |
Organization | Morgans Financial Limited |
Website | - |
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