US Shares end with mixed note

The US share market finished session on a mixed note on Tuesday, 05 July 2022, as optimism over hints of the rollback of some of the tariffs imposed on Chinese imports offset by fears about a possible recession and interest rate hikes by the Federal Reserve.

At the close of trade, the Dow Jones Industrial Average index declined 129.44 points, or 0.42%, to 30,967.82. The S&P500 index was up 6.06 points, or 0.16%, to 3,831.39. The tech-heavy Nasdaq Composite Index gained 194.39 points, or 1.75%, to 11,322.24.

Total 8 of 11 major S&P sectors ended the session lower, with energy (down 4%), utilities (down 3.4%), materials (down 2%), and industrials (down 1.5%) issues suffered largest%age losses. Communication services (up 2.7%) and consumer discretionary sectors were the clear winners, gaining 2.66% and 2.28%, respectively.

 

ECONOMIC NEWS: Data from the Labor Department showed near orders for manufactured goods increased 1.6% month-on-month in the month of May, following an upwardly revised 0.7% rise a month earlier.

Among Indian ADR, Tata Motors fell 0.7% to $26.14, Wipro fell 1.9% to $5.31, INFOSYS fell 1% to $18.67, and WNS Holdings shed 1.07% to $75.64. Azure Power Global inclined 4.9% to $12.28. ICICI Bank added 1.8% to $18.26, HDFC Bank added 0.5% to $55.81, and Dr Reddy's Labs added 0.05% to $55.87.

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