Lola Evans
28 Jun 2022, 06:10 GMT+10
NEW YORK, New York - The euphoria on Wall Street of late last week was absent on Monday as all the major indices scooted into the red.
"In these kind of bear market rallies, it's more about things getting a little too oversold, a little too negative," Baird's Ross Mayfield told CNBC Monday. "But those aren't enough on their own to really sustain the rally, they just can provide relief in pockets."
"From here, the expectation is probably once again that we've hit peak inflation, even if the rollover is very slow, and that financial markets should see reduced volatility into year-end," Tom Tzitzouris, head of fixed income research at Strategas was quoted as saying by CNBC. "If we see another push higher in inflation, however, all bets are off and volatility should accelerate again."
The Dow Jones industrials fell 62.42 points or 0.20 percent to 31,438.26.
The Nasdaq Composite slid 96.97 points or 0.83 percent to 11,511.65.
The Standard and Poor's 500 retreated 11.62 points or 0.30 points to 3,900.12.
The U.S. dollar inched up after drifting lower earlier in the day. By the close in New York Monday, the euro was fetching 1.0578. The British pound edged down to 1.2263. The Japanese yen was little changed at 135.77. The Swiss franc was a tad higher at 0.9564.
The Canadian dollar edged up to 1.2877. The Australian dollar was a fraction lower at 0.6918. The New Zealand dollar softened to 0.6293.
On overseas equity markets, the Dax in Germany advanced 0.52 percent. London's FTSE 100 added 0.69 percent. The CAC 40 in Paris was down 0.52 percent.
The Australian All Ordinaries and Hong Kong's Hang Seng were the stand-outs in Asia on Monday with gains of around two percent.
In Hong Kong, the Hang Seng closed ahead 510.46 points or 2.35 percent at 22,229.52.
In Tokyo, the Nikkei 225 gained 379.30 points or 1.43 percent to 26,871.27.
China's Shanghai Composite advanced 29.44 points or 0.88 percent to 3,379.19.
In New Zealand, the S&P/NZX 50 rallied 184.00 points or 1.70 percent to 10,997.92.
The Australian All Ordinaries climbed 131.20 points or 1.94 percent to 6,893.60.
South Korea's Kospi Composite firmed 35.33 points or 1.49 percent to 10,997.92.
Get a daily dose of San Diego Sun news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to San Diego Sun.
More InformationRIVERSIDE COUNTY, California: In his opening statement this week in the first U.S. trial over allegations that a car autopilot ...
SACRAMENTO, California: Intending to raise some US$160 million per year to help prevent gun violence, California Governor Gavin Newsom signed ...
WASHINGTON D.C. Due to internal brake fluid leaks that can cause an electrical short and could lead to engine fires, ...
SAN FRANCISCO, California: In a major update that will move it closer to popular artificial intelligence (AI) assistants, such as ...
(Photo credit: Rob Schumacher / USA TODAY NETWORK) Arizona and Houston each celebrated a postseason berth on Saturday night after ...
SAN FRANCISCO - U.S. Sen. Dianne Feinstein returned Saturday to her hometown for the final time when a military jet ...
BEIJING, China: In a deal worth US$10 billion at list prices this week, state-owned carrier China Eastern Airlines announced that ...
BEIJING, China: This week, China Evergrande Group said its founder and chairman, Hui Ka Yan, is being investigated over suspected ...
RIVERSIDE COUNTY, California: In his opening statement this week in the first U.S. trial over allegations that a car autopilot ...
SEATTLE, Washington: As part of Washington's efforts to stop Big Tech from monopolizing the most lucrative parts of the internet, ...
JEDDAH, Saudi Arabia: As part of Riyadh's efforts to further Saudi Arabia's electrification drive, electric vehicle (EV) maker Lucid announced ...
NEW YORK, New York - Stock prices were punctured Friday bringing to an end the 'flash in the pan' rally ...