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Defensive stocks lead Wall Street higher amid recession fears

By Devik Jain and Boleslaw Lasocki (Reuters) - Wall Street's main indexes rose on Thursday as investors turned to consumer staples and healthcare companies to mitigate their risks...

By Devik Jain and Boleslaw Lasocki

(Reuters) - Wall Street's main indexes rose on Thursday as investors turned to consumer staples and healthcare companies to mitigate their risks if the economy falls into recession.

Following the largest interest rate hike by the Federal Reserve in nearly three decades, investors fear economic growth and corporate profits could come under pressure, with the Ukraine war and the supply chain problems adding to the woes.

Big Wall Street banks including Citigroup (NYSE:C) and Goldman Sachs (NYSE:GS) now see a bigger chance of a recession.

Healthcare, consumer staples, real estate and utilities - sectors considered as safer bets within equities - rose more than 1% each.

The S&P 500 confirmed last week it has been in a bear market, clocking a 20% loss from its January closing peak. The tech-heavy Nasdaq has shed more than 30% from its November peak.

"This is a bit of a relief rally... you could call it a dead cat bounce or a bear trap. There is more room to the downside and much more downside risk," said Greg Swenson, founding partner of Brigg Macadam.

A survey released earlier showed U.S. business activity slowed considerably in June as high inflation and declining consumer confidence dampened demand, resulting in a gauge of new orders contracting for the first time in nearly two years.

Another set of data showed the number of Americans filing new claims for unemployment benefits hovered near a five-month high.

Investors are also keeping an eye on comments from Fed Chair Jerome Powell, who is testifying before the House Financial Services Committee.

He said on Wednesday the central bank is not trying to engineer a recession but is committed to bringing prices under control even if doing so risks an economic downturn.

Money markets are pricing in 75 basis point increase in rates next month, followed by a 50 basis point rise in September.

At 10:13 a.m. ET, the Dow Jones Industrial Average was up 61.59 points, or 0.20%, at 30,544.72, the S&P 500 was up 10.48 points, or 0.28%, at 3,770.37, and the Nasdaq Composite was up 50.22 points, or 0.45%, at 11,103.30.

Occidental Petroleum Corp (NYSE:OXY) rose 1.7% after Warren Buffett's Berkshire Hathaway (NYSE:BRKa) Inc bought another 9.6 million shares of the oil company, boosting its stake to 16.3%.

Snowflake Inc climbed 8.1% after J.P. Morgan upgraded the cloud software company's stock to "overweight" from "neutral".

Meanwhile, U.S. corporations with big oversees operations have started to flag risks from dollar, which hit a 20-year high earlier this month.

Accenture (NYSE:ACN) Plc fell 2.1% after IT services company tempered its earnings expectations for the year due to rising inflation and a stronger dollar.

Advancing issues outnumbered decliners by a 1.42-to-1 ratio on the NYSE and by a 1.70-to-1 ratio on the Nasdaq.

The S&P index recorded one new 52-week highs and 35 new lows, while the Nasdaq recorded 20 new highs and 72 new lows.

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30-06-2022 05:54:47 (UTC+7)

EUR/USD

1.0445

+0.0006 (+0.05%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (6)

Sell (2)

EUR/USD

1.0445

+0.0006 (+0.05%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (6)

Sell (2)

GBP/USD

1.2124

-0.0001 (-0.01%)

Summary

↑ Buy

Moving Avg:

Buy (9)

Sell (3)

Indicators:

Buy (7)

Sell (0)

USD/JPY

136.55

-0.03 (-0.02%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (1)

Sell (4)

AUD/USD

0.6884

+0.0003 (+0.04%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (8)

Sell (0)

USD/CAD

1.2890

-0.0001 (-0.01%)

Summary

Sell

Moving Avg:

Buy (1)

Sell (11)

Indicators:

Buy (1)

Sell (4)

EUR/JPY

142.63

+0.05 (+0.04%)

Summary

Buy

Moving Avg:

Buy (8)

Sell (4)

Indicators:

Buy (5)

Sell (3)

EUR/CHF

0.9972

0.0001 (0.00%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (1)

Sell (5)

Gold Futures

1,819.55

-0.05 (0.00%)

Summary

↑ Sell

Moving Avg:

Buy (3)

Sell (9)

Indicators:

Buy (1)

Sell (10)

Silver Futures

20.733

0.000 (0.00%)

Summary

Neutral

Moving Avg:

Buy (4)

Sell (8)

Indicators:

Buy (5)

Sell (3)

Copper Futures

3.7782

+0.0065 (+0.17%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (5)

Sell (1)

Crude Oil WTI Futures

109.68

+0.15 (+0.14%)

Summary

↑ Buy

Moving Avg:

Buy (11)

Sell (1)

Indicators:

Buy (7)

Sell (0)

Brent Oil Futures

112.25

-1.55 (-1.36%)

Summary

↑ Buy

Moving Avg:

Buy (10)

Sell (2)

Indicators:

Buy (8)

Sell (0)

Natural Gas Futures

6.443

+0.019 (+0.30%)

Summary

↑ Buy

Moving Avg:

Buy (10)

Sell (2)

Indicators:

Buy (8)

Sell (0)

US Coffee C Futures

228.05

+10.30 (+4.73%)

Summary

↑ Sell

Moving Avg:

Buy (3)

Sell (9)

Indicators:

Buy (0)

Sell (7)

Euro Stoxx 50

3,514.32

-34.97 (-0.99%)

Summary

Neutral

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (4)

Sell (4)

S&P 500

3,818.83

-2.72 (-0.07%)

Summary

↑ Buy

Moving Avg:

Buy (11)

Sell (1)

Indicators:

Buy (10)

Sell (0)

DAX

13,003.35

-228.47 (-1.73%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (1)

Sell (7)

FTSE 100

7,312.32

-11.09 (-0.15%)

Summary

Sell

Moving Avg:

Buy (1)

Sell (11)

Indicators:

Buy (0)

Sell (4)

Hang Seng

21,996.89

-422.08 (-1.88%)

Summary

Neutral

Moving Avg:

Buy (10)

Sell (2)

Indicators:

Buy (2)

Sell (4)

US Small Cap 2000

1,713.32

-25.52 (-1.47%)

Summary

Neutral

Moving Avg:

Buy (3)

Sell (9)

Indicators:

Buy (4)

Sell (4)

IBEX 35

8,188.00

-129.50 (-1.56%)

Summary

↑ Buy

Moving Avg:

Buy (8)

Sell (4)

Indicators:

Buy (6)

Sell (2)

BASF SE NA O.N.

41.580

-1.445 (-3.36%)

Summary

↑ Sell

Moving Avg:

Buy (4)

Sell (8)

Indicators:

Buy (0)

Sell (8)

Bayer AG NA

57.62

-2.61 (-4.33%)

Summary

Neutral

Moving Avg:

Buy (5)

Sell (7)

Indicators:

Buy (8)

Sell (1)

Allianz SE VNA O.N.

183.72

+0.62 (+0.34%)

Summary

Buy

Moving Avg:

Buy (10)

Sell (2)

Indicators:

Buy (4)

Sell (4)

Adidas AG

170.02

-0.30 (-0.18%)

Summary

↑ Sell

Moving Avg:

Buy (2)

Sell (10)

Indicators:

Buy (1)

Sell (9)

Deutsche Lufthansa AG

5.813

-0.222 (-3.68%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (7)

Sell (0)

Siemens AG Class N

101.40

-2.74 (-2.63%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (7)

Deutsche Bank AG

8.571

-0.292 (-3.29%)

Summary

Neutral

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (5)

Sell (3)

 EUR/USD1.0445↑ Buy
 GBP/USD1.2124↑ Buy
 USD/JPY136.55↑ Sell
 AUD/USD0.6884↑ Buy
 USD/CAD1.2890Sell
 EUR/JPY142.63Buy
 EUR/CHF0.9972↑ Sell
 Gold1,819.55↑ Sell
 Silver20.733Neutral
 Copper3.7782↑ Buy
 Crude Oil WTI109.68↑ Buy
 Brent Oil112.25↑ Buy
 Natural Gas6.443↑ Buy
 US Coffee C228.05↑ Sell
 Euro Stoxx 503,514.32Neutral
 S&P 5003,818.83↑ Buy
 DAX13,003.35↑ Sell
 FTSE 1007,312.32Sell
 Hang Seng21,996.89Neutral
 Small Cap 20001,713.32Neutral
 IBEX 358,188.00↑ Buy
 BASF41.580↑ Sell
 Bayer57.62Neutral
 Allianz183.72Buy
 Adidas170.02↑ Sell
 Lufthansa5.813↑ Buy
 Siemens AG101.40↑ Sell
 Deutsche Bank AG8.571Neutral
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# So hôm qua # Chênh TG
SJC Eximbank6,805/ 6,865
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SJC HCM6,820/ 6,890
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SJC Nhatrang6,820/ 6,892
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SJC Cantho6,820/ 6,892
(0/ 0) # 1,753
Cập nhật 30-06-2022 05:54:49
Xem lịch sử giá vàng SJC: nhấn đây!
ↀ Giá vàng thế giới
$1,817.89-0.61-0.03%
Live 24 hour Gold Chart
ʘ Giá bán lẻ xăng dầu
Sản phẩmVùng 1Vùng 2
RON 95-V33.47034.130
RON 95-III32.87033.520
E5 RON 92-II31.30031.920
DO 0.05S30.01030.610
DO 0,001S-V30.81031.420
Dầu hỏa 2-K28.78029.350
ↂ Giá dầu thô thế giới
WTI$109.59+4.023.67%
Brent$115.68+4.33.72%
$ Tỷ giá Vietcombank
Ngoại tệMua vàoBán ra
USD23.070,0023.380,00
EUR23.788,7225.121,19
GBP27.597,2728.774,53
JPY166,01175,75
KRW15,4718,85
Cập nhật lúc 18:53:49 29/06/2022
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