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The S & P 500 has changed little as a bank and energy has offset Tesla’s interests

The trader is working on the floor of the New York Stock Exchange (NYSE) in New York City, USA on March 21, 2022. REUTERS / Brendan McDermid

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  • Tesla rises in stock split plan
  • Crude oil prices fall due to weak demand in China
  • Dow up 0.39%, S & P 500 up 0.03%, Nasdaq up 0.49%

New York, March 28 (Reuters)-S & P 500 approaches unchanged on Monday as energy and bank stock declines offset Tesla’s stock surge, but Russia and Ukraine are poised to maintain their first meeting Was in place. Face peace talks in more than two weeks.

The S & P Energy Index (.SPNY) has the worst performance in the session after oil prices have fallen following the blockade of China’s financial hub Shanghai to curb the surge in COVID-19 infections that have caused demand concerns. It fell by 2.39% as a sector showing.read more

Exxon Mobil Corp (XOM.N) fell 2.59% and Chevron Corp (CVX.N) fell 1.85%.

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Treasury fell 1.02%, partly due to the downgrade of US bank Morgan Stanley as risks escalated and the Federal Reserve rate hike was already priced by the market.

Bond market selling resumed on Monday, short-term yields reached their highest since 2019, the yield curve measured by the five-year and thirty-year yield gaps reversed, raising concerns about the FRB’s more aggressive monetary policy. Caused. It dents economic growth.

“Finance … If many people buy or own them based on them, they will be better off in a higher rate environment and the finance will recede compared to what is happening in the bond market. You shouldn’t be surprised to see it. ” Stephen Massocca, Senior Vice President of Wedbush Securities in San Francisco, said.

“Of course, the names of commodities are so high and so hot that it’s not surprising to see them come back. That’s one of the reasons why the market has fallen, but these I think most of the news on commodity companies in Japan is very high. Very good. “

The Dow Jones Industrial Average (.DJI) fell 135.44 points (0.39%) to 34,725.8, and the S & P 500 (.SPX) rose 1.52 points (0.03%) to 4,544.58, the Nasdaq Composite Index (.IXIC). ) Is 69.71 points (0.49%, 14,239.01).

Strong economic data and the rise in blown growth stocks, despite continued conflict between Russia and Ukraine, and many Federal Reserve policymakers making nasty comments on the path to raising interest rates. Helped the Wall Street key index recover recently.

Meanwhile, Ukraine and Russia have said their delegation will arrive in Turkey for peace talks expected to take place on Tuesday. U.S. officials say Russian President Vladimir Putin is not ready to compromise, and Ukrainian officials have made great strides in the talks.read more

Electric vehicle maker Tesla (TSLA.O) surged 7.94% after saying it would seek investor approval to increase the number of shares to enable a stock split.read more

POLY.N surged 51.25% after HP Inc (HPQ.N) announced that it would buy audio and video product makers for $ 1.7 billion in cash. HP’s share fell 3.33%.read more

The declining issue outperformed the ongoing issue on the New York Stock Exchange by a ratio of 1.64 to 1, and Nasdaq supported the decline by a ratio of 1.76: 1.

The S & P 500 recorded 27 new 52-week highs and 4 new lows. The Nasdaq Composite recorded a new high of 40 and a new low of 100.

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Report by Chuck Mikolajczak in New York Edited by Matthew Lewis

Our Criteria: Thomson Reuters Trust Principles.

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