US Stocks end mixed

23 May 2022 , 08:32 AM

The US stock market finished session in a mixed note on Friday, 20 May 2022, with a lack of major U.S. economic data keeping some investor on the sidelines amid unease about the potential economic fallout from Federal Reserves efforts to squash inflation bubbled to the surface. At the close of trade, the Dow Jones Industrial Average index rose marginal 8.77 points, or 0.03%, to 31,261.90. The S&P500 index added meagre 0.57 point, or 0.01%, to 3,901.36. The tech-heavy Nasdaq Composite Index decreased by 33.88 points, or 0.3%, to 11,354.62. For the week, the S&P500 fell 2.9%, the Dow sank 3%, and the NASDAQ declined 3.8%. Worries about surging inflation and rising interest rates have pummeled the U.S. stock market this year, with danger signals from Walmart Inc and other retailers this week adding to fears about the economy. Tesla tumbled shares 6.4% after Chief Executive Elon Musk denounced as utterly untrue claims in a news report that he sexually harassed a flight attendant on a private jet in 2016. Shares of Ross Stores plunged 22.5% after the discount apparel retailer cut its 2022 forecasts for sales and profit. Shares of Deere & Co dropped 14% after the heavy equipment maker posted downbeat quarterly revenue. Among Indian ADR, HDFC Bank added 2.2% to $53.80, Tata Motors added 2.88% to $26.76, Wipro added 0.51% to $5.94, INFOSYS added 0.38% to $18.70, and ICICI Bank added 1.6% to $18.10. Azure Power Global added 2.2% to $13.55, Dr Reddys Labs added 7.2% to $55.03, and WNS Holdings added 1.8% to $70.56. Powered by Capital Market – Live News