The US Stock Market declines; the need of the hour is to pay attention to FOMC Economic indicators

The US stock market closed as it fell as the Federal Reserve (FRB) began paying attention to the results of the Federal Open Market Committee (FOMC), which began two days later. The market has become even more nervous as economic indicators show higher inflation, and retail sales in May fell more than expected.

The May Wholesale Price Index (PPI) released by the US Department of Labor showed that growth accelerated from the previous month and that the supply chain is struggling to respond to the expansion of demand due to economic resumption. Meanwhile, retail sales in May, announced by the Ministry of Commerce, fell 1.3% month-on-month, surpassing market expectations of 0.8%.

Ed Moya, the senior market analyst in the Americas at OANDA, said, “Stock prices have responded slightly to economic indicators. Overall, the indicators are beginning to move out of stimulus support, with a slight slowdown in recovery and inflation. It has been shown to continue to rise. “ He also said that stock prices would be unstable toward the Fed’s decision.

On the 14th, the 500 S & P stocks hit the highest price based on the closing price, which is the 29th time this year, but recently it has been in the range market as a whole. Last year, it recorded the highest closing price base 33 times a year. Of the 11 major S & P sectors, seven sectors, such as telecommunications services, fell on that day.

On the other hand, energy is 2.1% higher. Crude oil prices hit a high for the first time in several years against the backdrop of a bright demand outlook. ExxonMobil is up 3.6%. Boeing is up 0.6% for individual stocks. The U.S and the European Union (EU) have agreed to suspend the retaliatory tariffs they have imposed for five years over the issue of aircraft subsidies.

US emerging electric vehicle (EV) maker Lords town Motors, which plunged 19% the day before, rose 11.3%. The combined trading volume of the US exchange is 9.98 billion shares. The average of the last 20 business days is 10,580 million shares. 

Dow Jones Industrial Average: 34299.33 -94.42 -0.27 34397.10 34420.38 34199.16

Previous business day closing price: 34393.75

Nasdaq Composite: 14072.86 -101.29 -0.71 14166.64 14171.02 14052.16

Previous business day closing price: 14174.14

S & P 500 types: 4246.59 -8.56 -0.20 4255.28 4257.16 4238.35

Previous business day closing price: 4255.15

Dow Jones Transportation Average: 15305.39 +111.18 +0.73

Dow Jones Industrial Average: 918.43 +3.25 +0.36

Philadelphia Semiconductor: 3225.98 -29.36 -0.90

 VIX index: 17.02 +0.63 +3.84

 S & P Consumer Goods: 1383.59 -6.59 -0.47

 S & P material: 531.55 -1.04 -0.19

 S & P Industry 872.80 +4.06 +0.47

 S & P Major Consumer Goods: 724.42 -2.04 -0.28

 S & P Finance: 617.55 +1.41 +0.23

 S & P Real Estate: 281.86 -2.95 -1.03

 S & P Energy: 420.34 +8.49 +2.06

 S & P Healthcare: 1449.02 -0.37 -0.03

 S & P communication service: 261.58 -1.29 -0.49

 S & P Information Technology: 2499.34 -16.09 -0.64

 S & P Utilities 335.54 + 1.17 +0.35

 NYSE volume: 899 million shares