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(For a Reuters blog on U. S. stock markets)USA, UK and Europe, click LIVE/ or type LIVE/ in a news window)
Energy index leads as oil recovers
Spirit Airlines soars after JetBlue launches takeover bid
* Indices: Dow 0. 60%, S
By Amruta Khandekar and Noel Randewich
May 16 (Reuters) – Wall Street combined on Monday, with energy stocks rallying and Tesla and other expansion stocks losing ground, as disappointing economic know-how from China added to considerations of a global slowdown and emerging interest rates.
China’s economic activity cooled sharply in April, as the easing of COVID-19-related lockdowns greatly affected consumption, trade production and employment, adding to fears that the economy will simply contract in the current quarter.
However, energy stocks were boosted by optimism that China would see a significant recovery after positive symptoms of the coronavirus pandemic receding in the hardest-hit areas.
The power index S
Investors have questioned whether a strong day on Wall Street last Friday could spell the end of a recent sell-off that left the S.
“After Friday’s big rally, other people are around and wondering if it’s sustainable,” said Ross Mayfield, an investment strategist at Baird in Louisville, Kentucky. , or is there even more capitulation to elaborate?”
Wall Street’s mega-cap expansion stocks were lower, with Tesla falling just 5% and Amazon down 1. 2%. Microsoft gained 1. 2%.
The S index
Investors worry that competitive interest rate hikes through the U. S. Federal Reserve will not be able toThe U. S. shutdown of decades-long maximum inflation may push the economy into recession, with the shock in Ukraine, supply chain issues, and pandemic-related lockdowns in China exacerbating economic turmoil.
Monday’s release showed factory activity in New York state collapsed in May for the third time this year amid a drop in new orders and deliveries.
Traders now expect an 86% chance of a 50 basis point being accumulated through the Federal Reserve in June.
In the afternoon, the Dow Jones Industrial Average rose 0. 6% to 32,389. 04 points, while the S
The Nasdaq Composite fell 0. 41% to 11,757. 12.
Investors are focusing on retail sales awareness expected on Tuesday, after being concerned about knowledge about inflation and customer sentiment last week.
Retailers such as Walmart Inc, Home Depot and Target Corp are due to file quarterly effects this week.
Spirit Airlines jumped 13% after JetBlue Airways submitted a hostile takeover bid for the scaled-down airline. Shares of JetBlue fell 4. 5%, while shares of rival bidder Frontier Group gained just 7%.
Rising issues outnumbered declining issues on the New York Stock Exchange by a ratio of 1. 38 to 1; on the Nasdaq, a ratio of 1. 02 to 1 favored the declinants.
the s
(Reporting via Amruta Khandekar and Devik Jain in Bangalore and Noel Randewich in San Francisco; Additional reporting via Devik Jain in Bangalore; Editing via Shounak Dasgupta and Lisa Shumaker)