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US Stocks end mixed on Powell nomination

Capital Market 

The US stocks closed mixed for the fourth consecutive session on Tuesday, 23 November 2021, with the Dow and the S&P 500 moved to the upside, while the Nasdaq extended the sharp pullback seen in the previous session.

The mixed performance of Wall Street stocks came as a continued increase in treasury yields since President Joe Biden announced his intention to nominate Jerome Powell for a second term as Fed Chair and current Fed Governor Lael Brainard as Vice Chair.

At the close of trade, the Dow Jones Industrial Average index rose 194.55 points, or 0.55%, to 35,513.80. The S&P500 index added 7.76 points, or 0.17%, to 4,690.70. The tech-heavy Nasdaq Composite Index lost 79.62 points, or 0.5%, to 15,775.14.

Total volume turnover on U.

S. exchanges stood at 10.08 billion shares. Declining stocks outnumbered advancing ones on the NYSE exchange by 1819 to 1592 and 117 closed unchanged. In the NASDAQ, 1959 issues advanced, 2735 issues declined, and 235 issues unchanged.

Total 8 of 11 S&P500 sectors ended higher, with energy (up 3.44%) was top performing sector in response to higher oil prices, followed by financials (up 1.55%) as longer-term bond yields lifted, real estate (up 1.1%), and consumer staples (up 0.7%) sectors, while consumer discretionary (down 0.63%) was bottom performing issue followed by communication services (down 0.4%) sector.

Among Indian ADR, WNS Holdings added 0.11% to $88.94, HDFC Bank added 1.78% to $69.64, ICICI Bank added 1.04% to $19.50, Wipro added 0.34% to $8.75, INFOSYS added 0.53% to $22.89, Dr Reddys Labs added 1% to $61.34, and Tata Motors added 1.86% to $32.84. Azure Power Global fell 2.16% to $22.17.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Wed, November 24 2021. 08:21 IST