All three indexes on the US stock market have declined in the past week

For the whole week from April 19 to 23, the Dow Jones decreased by 0.5%, the S&P 500 and Nasdaq decreased by 0.1% and 0.3 from the previous week.

Photo is for illustration only. (Source: CNBC) Closing the last session of the week, the main indicators are above Wall Street stock market All went up thanks to positive data on economic activity and new home sales in the US, however, the rise of the 23/4 session did not compensate for the decline for the whole week of volatile trading. . In the first session of April 19, the US stock market went down due to profit-taking activities after the Dow Jones and S&P 500 index ended last week at record highs. The decline continued into the next session (April 20) when stock prices fell amid concerns about pricing and the spread of the COVID-19 pandemic that had a strong impact on markets and investor sentiment. private. Coming to session 21/4, the indices regained momentum after two previous declining sessions, with most sectors having an active session, when experts commented that market movements declined in The previous session is the signal for investors to buy. However, at the end of April 22, the indexes all declined significantly, although the number of applications for unemployment benefits for the first time in this country was lower than expected. Markets flooded in red after Bloomberg News and several other firms reported that President Joe Biden intends to propose an increase in capital-gains tax from 20% to 39.6% for individuals with income of more than 1 million USD / year. In the last session of the week 23/4, investor sentiment recovered thanks to a series of positive profit reports from large enterprises and data showing the “healthy” state of the US economy. Closing the session on April 23, the Dow Jones industrial index rose 0.7% to 34,043.49, the S&P 500 composite index advanced 1.1% to 4,180.17, and the Nasdaq Technology Index rose 1. , 4% and closed at 14,016.81 points. However, for the whole week, the Dow Jones decreased by 0.5%, the S&P 500 and Nasdaq decreased by 0.1% and 0.3 compared to the previous week. Regarding the proposed tax increase for the richest class of the US, experts say the plan is in line with Mr. Biden’s campaign commitments, but the rate of tax increase is likely to be narrowed in negotiations in the National Assembly of this country. Chris Weston, head of research at Pepperstone, commented that the 39.6% figure is not surprising, but actual developments show that the current financial market is more “sensitive” to bad news and this is the period. volatile paragraphs. American market strategist David Joy of Ameriprise Financial, also noticed stock prices are recovering after the market reacted unexpectedly to news that the White House would propose a tax increase while President Biden mentioned to this issue while campaigning. Besides, senior market analyst for America at OANDA, Mr. Edward Moya pointed out that factors contributing to the stock market’s rally are positive data about the US economy. According to a report by the US Department of Commerce, new home sales in March (seasonally adjusted to increase) reached 1,021 million units – up 20.7% from the previous month. The IHS Markit Purchasing Managers’ Index (PMI) in the manufacturing sector rose from 59.1 in March to a record 60.5 in April. Meanwhile, the PMI of the service sector also increased from 60.4 points to 63.1. The 50-point threshold defines whether an economy is growing or declining. The IHS Markit PMI is considered a prestigious indicator of “economic health.” In general, the profit of the companies that reported early were all higher than expected. According to IBES Refinitiv, the first quarter profit of enterprises is expected to increase by 33.9% over the same period last year. Ron Temple, head of the US equities division at Lazard Asset Management, said the US economy is expected to see its strongest growth in 50 years, with growth of more than 6% both this year and next year. Federal Reserve (Fed) will allow the economy to accelerate faster than before, further boosting prospects for high growth./.