Saturday, November 26, 2022

US stocks open mixed, Dow up 240 points

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big ThreeindexThe opening on the 22nd was mixed and the Dow Jones Industrial Average climbed 240 points.investPeople are recalibrating expectations in response to comments from Federal Reserve officials who signaled continued rate hikes but were open to a slower pace of growth. An upbeat corporate earnings report also helped propel the initial move.

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The Dow Jones Industrial Average opened down 241.92 points, or 0.72%, the S&P 500 down 0.48% and the Nasdaq down 0.09%. The Philadelphia Semiconductor Index rose 0.32 percent, while TSMC’s ADR advanced 1.87 percent.

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Best Buy (Best Buy), the largest consumer electronics chain in the United States, reported better-than-expected quarterly earnings and raised its financial forecast, helping early trading.share priceclimbed 9%. Shares of teen apparel firm Abercrombie Fitch and the American Eagle chain rose after the earnings.

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CNBC reported that doubts about a resurgence of the epidemic in China dampened investor optimism.

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