Stock investors quickly bought the dip in Tech amid concerns about sooner-than-expected Fed’s monetary policy actionsUpdated time: 24 Jan, 2022, 14:34 (UTC+04:00)
Stock investors quickly bought the dip in Tech amid concerns about sooner-than-expected Fed’s monetary policy actions. The mass buying helped SP500 to increase 0.23% just before the close after going near flat in the whole session. Nasdaq marked 0.44% gains while DowJones dropped 9 points.
Black Friday shopping season brought bullish signs to the retail sector, especially online buying. Amazon, Target, Apple, Macy’s, etc. are just some most notable names.
Inflation pressure stressed the Fed to control rising costs in everyday items, leaving concerns to Fed policymakers about an expectation to fasten the taper of the bond-buying program.
Oil prices were steady in Asia today after OPEC said a planned release may cause a surplus early next year. However, not much is guaranteed when people continue eying on this commodity next week, after some OPEC members threatened to delay boost production plans. This led energy stocks to gain.