Wall Street retraces key short-term support levels
The New York Stock Exchange ended sharply lower on Thursday, weighed down by Apple’s excessive loss (-4.9%) following the demotion of Bank of America, which went from a buy recommendation to neutral , on concerns about negative earnings estimate revisions.
Wall Street also faced concerns after the Cleveland Fed chair said the Federal Reserve was not yet in restrictive territory with its key rate, the British prime minister defended her plan to cut taxes and that Putin is preparing to announce the annexation of four Ukrainian territories.
Markets also had to digest weekly jobless claims which fell to their lowest level (193,000) since early May, giving the Fed reason to maintain an aggressive line with its rate hikes.
The main American indices are thus returning to test key support levels at 11,000 for the Nasdaq, 3,650 points for the S&P 500 and 1,650 points for the Russell 2000.
Nasdaq 100 daily price chart – key levels
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