Two out of three indices marginally in the green – fears are increasing on Wall Street

Fear spread on Wall Street on Wednesday, after the 10-year US Treasury yield hit as high as 4.657 percent – just a few percentage points away from its highest level this year. The so-called “ten-year” ended the day up 0.05 percentage points to 4.65 percent.

Since the turn of the year, the “ten-year-old” has risen by around 70 basis points.

Mixed up on Wall Street

The rise in US bond yields was reflected in the market in the morning hours, before the fall intensified. The leading US indices ended the day virtually flat.

• The S&P 500 ended up 0.05 percent at 5,074.7.
• The Nasdaq technology index ended up 0.15 percent at 15,719.88.
• The industry-heavy Dow Jones index fell 0.06 percent to 38,482.83.

The volatility index VIX, also known as the “fear index”, ended up 1.21 per cent to 15.88.

Tesla rally

After delivering terrible figures for the first quarter (Q1) on the top and bottom line yesterday, hit Tesla strong return on Wednesday.

“Tesla failed to live up to analysts’ expectations in the first quarter (Q1), but hints of new “cheap” models, as well as the delivery of autopilot systems to “competitors”, triggered investors,” wrote Roger Berntsen in the morning hours in an update from Nordnet.

The share ended up a whopping 12 percent.

Boeing smack and “good signs” so far

Despite the rise in the morning hours ended Boeing down around 3 per cent after the company presented a quarterly loss – albeit less than expected.

Despite the fact that income losses from, among others, Tesla and Boeing have stolen the headlines, the earnings of the companies that have so far presented quarterly reports have beaten the estimates of Wall Street, writes CNBC.

More than 25 percent of the companies that make up the S&P 500 have so far presented their report for Q1. Of these, 79 percent have beaten the estimates.

Wealth Enhancement Group portfolio manager Ayako Yoshika tells CNBC that reporting so far has shown good signs, but that “the focus is still on some of the bigger names, and [hvordan] the markets will react to the outlook from Meta tonight, and Microsoft and Google tomorrow”.

FLAT: Wall Street ended flat on Wednesday – expectations are high when a number of companies this week and beyond will present their figures for the first quarter. Photo: Berit Roald

Mixed for the “Magnificent-7” shares

The so-called Magnificent-7 stocks, which make up the largest technology companies, performed mixed on Wednesday.

Apple ended the day up 1.26 percent, Microsoft up 0.34 percent, while Google owner Alphabet put on 0.72 percent. Things got worse Meta which after the end of the stock exchange on Wednesday presents its report for Q1. The share ended down 0.41 percent.

For Amazon and Nvidia ended the day down 1.42 and 3.20 per cent respectively, while Tesla, as mentioned, hit back hard and gained 12 per cent.

Particularly marked in the tech fall last Friday was also Nvidia, which is down 16 percent in the last month. At the same time as there is increased uncertainty about whether there will be a correction for the share, Nvidia has so far this year risen a whopping 65.5 percent.