The US stock market shows an upward trend after the decline in early trading

American stock indexes, having started trading on Wednesday with a decline, a little later moved to growth. Traders are waiting for the publication of the minutes of the meeting of the Federal Reserve System (Fed) on May 3-4.

By 16:59 Moscow time, the Dow Jones Industrial Average rose by 20.06 points (0.06%) and amounted to 31948.68 points. Standard & Poor’s 500 increased by 5.64 points (0.14%) – up to 3947.12 points. The Nasdaq Composite rose 17.42 points (0.15%) to 11,281.87 points.

Shares of Dick’s Sporting Goods fell 6.3% in trading. The U.S. sporting goods retailer cut earnings and revenue in the first quarter of fiscal 2022, and although the numbers were better than market expectations, the company’s shares collapsed due to a worsening full-year forecast.

Papers Lyft Inc. decrease by 1.6%. The US taxi service will slow hiring, cut the budgets of some departments and reward individual employees with new stock options to offset the fall in the value of its shares.

Share price of Wendy’s Co. grows by 9.7%. The largest shareholder of the American fast food restaurant chain is considering a buyout of the company or another deal that would increase its shareholder value.

Stock quote Nordstrom Inc. increase by 7.4%. The owner of a chain of clothing stores unexpectedly ended the 1st quarter of fiscal year 2022 with a net profit, which allowed him to improve his full-year forecast.

Starbucks Corp. papers. rise in price by 0.4%. American coffee chain sells juice maker Evolution Fresh to Bolthouse Farms Inc. The terms of the deal were not disclosed.

Following the results of the May meeting, the Fed raised the rate by 50 basis points (bp) – up to 0.75-1% per annum. The rate was raised immediately by 50 bp. for the first time since 2000. At a press conference following the meeting, US Central Bank Chairman Jerome Powell said the Fed would consider a 50 bp rate hike. at the next few meetings, however, the rate increase immediately by 75 bp. not actively discussed.

The current year for the US stock market is likely to be remembered for significant turbulence against the backdrop of the most significant collapse of the technology sector since the dot-com fall, experts believe, taking into account the first 100 trading days of 2022.

The performance of the S&P 500 and Dow Jones in the first 100 trading days of 2022 will be the worst since 1970, the Nasdaq in the history of the stock market, according to Dow Jones Market Data.

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