U.S. Indices: Investor Remained On Backfoot On Wednesday – Invest Chronicle

U.S. Indices: Investor Remained On Backfoot On Wednesday

The markets traded without any obvious enthusiasm Wednesday. Extremely contradictory news is the reason for this, which does not yet allow investors to decide on a possible continuation of the movement. A number of pharmaceutical companies, on the one hand, are not only close to completing the development of a coronavirus vaccine, but have already applied for registration. On the other hand, Joe Biden, who so encouraged investors with his promises to restore global trade and stop trade wars during the presidential election, unexpectedly said that he was not yet ready to grant any concessions to China and was ready to adhere to a very tough position on his part in terms of China’s trade policy and technology theft. Macroeconomic data on the dynamics of the US economy are highly contradictory and yesterday, although they were few, they were certainly not positive. As a result, it was now completely unclear “Where to go to the peasant”. So investors have taken a position of wait-and-seeing.

The Dow Jones blue-chip Index added 0.20 percent to close at 29,883 in Wednesday trading. The S&P 500 broad market index increased by 0.18 percent to 3,669 points, and the high-tech Nasdaq Composite fell -0.05 per cent to 12,349 points.


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After the release of data on weekly changes in crude oil inventories on the day, the cost of energy, which increased markedly, corrected overnight, losing about a third of the initial growth and investors have no confidence there. At least until, a final decision on production volumes in the first months of 2021 has not been made by the OPEC+ monitoring committee. The price of the Brent benchmark grade price was $48.25 per barrel, while the Texas WTI light traded at $ 45.28 per barrel on Wednesday.

Among the securities included in the S&P 500 index calculation, the largest decrease was shown by Salesforce.com (-8.52%), Whirlpool (-5.17%), Genuine Parts (-4.61%), Rollins (-4.14%) and DR Horton (- 3.91 percent ). NetApp (+ 9.36%), HollyFrontier (+ 8.48%), Valero Energy (+ 6.75%), Coty Inc (+ 6.03%) and Apache (+ 5.98%) were the growth leaders.

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