Major indicators rebounded from the slump on Tuesday morning, ending the day with slight gains, as record inflation, supply chain restrictions and rising energy prices weigh on economic growth.
The Nasdaq had the strongest rise, rising 194.39 points, or 1.7%, to 11,322.24. The S&P 500 rose 6.06 points, or 0.2%, to 3,831.39, while the Dow Jones Industrial Average fell 129.44 points, or 0.4%, to close at 30,967.82.
The The war in Ukraine And its impact on energy supplies casts a shadow over the economic outlook at a time when the central bank raise interest rates to slow inflation. The Federal Reserve strengthened By 0.75% in June – Biggest rise since 1994 – Amid the country’s deadliest bout of inflation in 40 years, leading some economists to speculate that raising interest rates could push the US into recession.
Supply Chain Tensions with China
Standards in Asia were mostly higher on hopes of easing trade tensions between Beijing and Washington. The COVID-19 lockdown earlier this year in major Chinese cities affected not only the country’s post-pandemic recovery, but also global supplies.
China’s Ministry of Commerce said Tuesday that Vice Premier Liu He spoke with Treasury Secretary Janet Yellen about coordinating economic policy between the two largest economies and maintaining the stability of supply chains.
In a statement, it said the Chinese side “expressed its concern over issues such as the cancellation of tariffs and additional sanctions imposed by the United States on China and the fair treatment of Chinese companies.” She added that the two sides agreed to continue discussions.
Meanwhile, a resurgence of COVID-19 infections looms, bringing the risk of a return to epidemiological precautions.
At least some adults in the US may be updated COVID-19 Shots this fall, as government advisors Vote in June It is time to adjust the booster doses to better match the latest virus types.
In energy trading, US crude fell 49 cents to $107.94 a barrel. It rose $2.67 on Friday to $108.43 a barrel. Trading is closed on Monday. International benchmark Brent crude fell $1.84 to $111.66 a barrel.
