US close: Stocks trade lower after Memorial Day break

Major indexes were in the red as markets closed on Tuesday as the Street failed to continue last week’s momentum on its return from the Memorial Day long weekend.

At the close, the Dow Jones Industrial Average was down 0.67% at 32,990.12, while the S&P 500 was 0.63% lower at 4,132.25 and the Nasdaq Composite saw the session fall. weaken 0.41% to 12,081.39.

The Dow Jones closed down 222.84 points on Tuesday, taking a bite out of the gains recorded in the previous session when the blue chip index snapped a seven-week losing streak.

Tuesday’s moves came as market participants continued to grapple with fears that rising inflation in the United States and abroad could dampen global economic growth after eurozone inflation slumped. hit a record high for a seventh consecutive month in May, hitting 8.1%.

Traders also digested the news that economic activity slowed further in China in May, according to new official data released on Tuesday, with measures for the manufacturing and non-manufacturing sectors remaining in contraction territory. The official Manufacturing Purchasing Managers’ Index came in at 49.6 for the month, down from 47.4 in April and just ahead of consensus expectations for a reading of 49.0.

News that the European Union had agreed to ban the bulk of crude oil imports from Russia also weighed on sentiment. West Texas Intermediate futures initially traded up nearly 3% on the news before falling back to $114.67 a barrel, while Brent crude rose 0.96% to $122.84 a barrel .

On the macroeconomic level, the US housing index reached 386.5 points in March, against 381 points in February, according to Federal Housing Finance Agency.

Elsewhere, the Chicago Purchasing Managers Index rose to 60.3 in May, according to supply management instituteup from a downgraded print of 56.4 in April and beating market forecasts for a print of 55.

Always on the data, the conference boardThe May Consumer Confidence Index fell slightly in May to now stand at 106.4, down from an upwardly revised reading of 108.6 in April. The current situation index, based on consumers’ assessment of current business and labor market conditions, fell to 149.6 from 152.9 a month earlier, while the expectations index, based on consumers’ near-term outlook for income, business and labor market conditions, fell to 77.5 from 79.0.

To finish, the Dallas FedThe manufacturing index plunged to -7.3 in May, from 1.1 in April for the lowest since May 2020.

No major corporate results were released on Tuesday.

Reporting by Iain Gilbert on Sharecast.com

Dow Jones – risers

Nike Inc. (NKE) $118.85 2.47%
Walt Disney Co. (DIS) $110.44 1.02%
JP Morgan Chase & Co. (JPM) $132.23 0.73%
Travelers Company Inc. (TRV) $179.04 0.68%
Amgen Inc. (AMGN) $256.99 0.68%
Walgreens Boots Alliance, Inc. (WBA) $43.83 0.27%
McDonald’s Corp. (MCD) $252.21 0.13%
Walmart Inc. (WMT) $128.63 0.12%
Honeywell International Inc. (HON) $230.94 0.00%
Dowdupont Inc. (DWDP) $30.52 0.00%

Dow Jones – Fallers

Salesforce.Com Inc. (CRM) $160.24 -2.94%
Unitedhealth Group Inc. (UNH) $496.78 -2.04%
Chevron Corp. (CLC) $174.66 -2.03%
Coca-Cola Co. (KO) $63.38 -2.01%
Home Depot Inc. (HD) $302.75 -1.85%
Dow Chemical Co. (DOW) $67.98 -1.56%
Cisco Systems Inc. (CSCO) $45.05 -1.25%
Merck & Co. Inc. (MRK) $92.03 -1.13%
Johnson & Johnson (JNJ) $179.53 -0.86%
Boeing Co. (BA) $131.40 -0.63%

S&P 500 – Risers

Mosaic Society (MOS) $62.65 4.68%
Amazon.Com Inc. (AMZN) $2,404.19 4.40%
Under Armour, Inc. (UA) $9.70 3.41%
CF Industries Holdings Inc. (CF) $98.77 3.19%
Hasbro Inc (HAS) $89.75 3.07%
Ipg Photonics Corp. (IPGP) $105.51 2.94%
Synchrony Financial (SYF) $37.04 2.49%
QUALCOMM Inc. (QCOM) $143.22 2.48%
Nike Inc. (NKE) $118.85 2.47%
DishNetwork Corp. (DISH) $22.83 2.38%

S&P 500 – Slaughters

Illumina Inc. (ILMN) $239.48 -7.20%
Gap Inc. (GPS) $11.03 -4.91%
Schlumberger AG (SLB) $45.96 -4.67%
Laboratory Corporation of America Holdings (LH) $246.72 -4.32%
PerkinElmer Inc. (PKI) $149.67 -4.17%
Regeneron Pharmaceuticals Inc. (REGN) $664.74 -4.05%
Seagate Technology Plc (STX) $84.67 -3.97%
Albemarle Corp. (ALB) $260.42 -3.88%
Ball Corp (BALL) $70.89 -3.85%
Nucor Corp. (NUDE) $132.46 -3.83%

Nasdaq 100 – Risers

JD.com, Inc. (JD) $56.12 4.55%
Amazon.Com Inc. (AMZN) $2,404.19 4.40%
Trip.com Group Limited (TCOM) $22.06 3.57%
Hasbro Inc (HAS) $89.75 3.07%
QUALCOMM Inc. (QCOM) $143.22 2.48%
DishNetwork Corp. (DISH) $22.83 2.38%
Starbucks Corp. (SBUX) $78.50 2.33%
PACCAR inc. (PCAR) $86.81 1.33%
Alphabet Inc. Class A (GOOGL) $2,275.24 1.29%
Wynn Resorts Ltd. (WYNN) $66.09 1.27%

Nasdaq 100 – Fallers

Biomarin Pharmaceutical Inc. (BMRN) $75.13 -7.21%
Illumina Inc. (ILMN) $239.48 -7.20%
Regeneron Pharmaceuticals Inc. (REGN) $664.74 -4.05%
Seagate Technology Plc (STX) $84.67 -3.97%
NortonLifeLock Inc. (NLOK) $24.28 -3.19%
Mercadolibre Inc. (MELI) $785.88 -3.15%
Biogen Inc (BIIB) $200.00 -3.01%
Hologic Inc. (HOLX) $75.21 -2.90%
Dollar Tree Inc (DLTR) $160.33 -2.83%
Liberty Global plc Series A (LBTYA) $24.32 -2.80%

Garland K. Long