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U.S. Stocks Wobble as Investors Try to Shake Off April Weakness

Stock Markets May 02, 2022 09:58AM ET
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By Liz Moyer

Investing.com -- U.S. stocks wobbled after Monday's open as investors tried to put April's slump behind them and focus on this week's Federal Reserve policy meeting.

At 10:21 AM ET, the Dow Jones Industrial Average had shed 42 points, or 0.1%, while the S&P 500 was flat as was the NASDAQ Composite.

The shaky start to May comes after the Dow lost nearly 5% in April. Tech stocks were even weaker, dragging the Nasdaq down 13% for the month.

Though the Fed meeting doesn't start until tomorrow -- and the interest rate decision won't come out until Wednesday -- investors are already maneuvering for what comes next. Three challenges are weighing on equities: China's struggle to contain outbreaks of COVID-19 that have led to lockdowns and stoked fears of economic slowdown, the aggressive stance of Fed policymakers in combating inflation, and Russia's ongoing war on Ukraine.

It was a holiday on Monday in several locations, with markets closed in Hong Kong, China, Russia and the U.K.

Apple Inc (NASDAQ:AAPL) shares dipped 0.1% after European regulators accused it of misusing its dominant position in the mobile payments business. Spirit Airlines Inc (NYSE:SAVE) shares tumbled 8% after it said it wouldn't accept a takeover bid from JetBlue Airways Corp (NASDAQ:JBLU) and would pursue the previous takeover proposal by Frontier Group Holdings Inc (NASDAQ:ULCC). Shares of JetBlue were flat and Frontier fell 5%.

Oil also fell. The price of Crude Oil WTI Futures slid 3.7%, to $100.80 a barrel, while Brent Oil Futures crude's price fell 3.4%, to $103.47 a barrel. Gold Futures fell 2.9%, to $1856 an ounce.

 

 
 
U.S. Stocks Wobble as Investors Try to Shake Off April Weakness
 

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Mitchel Pioneer
Mitchel Pioneer May 02, 2022 10:30AM ET
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10AM sharp, and Apollo Ponzi leaves the launch pad, predictably and flagrantly as ever.  The fraudulent, criminally manipulated JOKE continues its reign of financial terror.
 
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