US Stocks Mixed: Financials’ Gains, Technology Losses

On Tuesday’s market closed, June 1, the US stocks got mixed as the shares in Oil & Gas, Basic Materials, and Financials sectors led the gains while the losses were led by Healthcare, Utilities, and Technology sectors.

At the close in New York Stock Exchange, the benchmark Dow Jones Industrial Average smashed 0.13%.

On the contrary, the S&P 500 index and NASDAQ Composite index both plummeted 0.05% and 0.09%, respectively.

Among the main players that led the benchmark Dow’s spike in stocks is the Boeing Co. It soared 3.12% or 7.70 points at 254.72.

The chemical company Dow and Goldman Sachs Group Inc. also contributed to the index’s rise as both jumped 2.91% or 1.99 points at 70.41 and 2.80% or 10.43 points at 382.45, respectively.

Even though the benchmark S&P 500’s stocks were down in the latest session, Marathon Oil Co. leads as its top performer by rising 13.71% to 13.77.

Devon Energy Co. followed the trend by jumping 13.70%, settling at 30.20. Meanwhile, APA Co. also climbed 10.87% at 23.06.

Meanwhile, the worst performers were Abbott Laboratories, Thermo Fisher Scientific Inc., and Invesco Plc, which all lost 9.33% to 105.77, 4.78% to 447.05, and 4.73% to 27.18, respectively.

Lastly, the companies that pulled NASDAQ on the pit were Immunovant Inc., Mudrick Capital Acquisition Co. II, and Shineco Inc, which all tumbled by 36.74% at 9.59, 15.09% at 11.59, and 12.97% at 6.91, respectively.

Asian Stocks Boost

On Wednesday morning, Asian stocks in the Pacific Region were mostly up.

Australia reported a better-than-expected Gross Domestic Product, which grew 1.8% quarter-on-quarter and a year-on-year of 1.1% for 2021’s first quarter.

Consequently, its ASX 200 spiked by 0.77%, same with Japan’s Nikkei 225 and Hong Kong’s Hang Seng. They also climbed 0.48% and 0.06%, respectively.

Also, South Korea’s KOSPI tweaked 0.18% as the nation’s consumer price index rose by 2.6% year-on-year in May. It is above April’s 2.3% increase.

On the other hand, China’s Shanghai Composite plunged 0.46%, while Shenzhen Component boosted by 0.07%.

Since North America, China, and other parts of Europe continue to recover their economies from the pandemic, investors jitters as central banks may retrieve their stimulus sooner than expected.