U.S. stock markets go further up and down on Wednesday afternoon.
U.S. developments are based on “traffic congestion” in the Suez Canal and the latest U.S. BMI figures.
This is what Wall Street stands for after a short hour of trading:
- The Dow Jones Industrial Average is up 0.81 percent
- The S&P 500 is up 0.27 percent
- The Nasdaq composite is down 0.54 percent
Insert into artery
One of the vessels that helped shape the world market on Wednesday was the ship that blocked the Suez Canal.
Reuters reports that a 400-meter-long and 224,000-ton container vessel ran aground in the canal on Tuesday morning after losing its ability to steer due to strong winds and a sandstorm.
The news agency writes that about 12 percent of world trade, measured, goes through the channel.
The ship is now being towed and traffic through the canal will resume soon, Reuters reported. Bloomberg writes that after good growth in ship relocation some traffic should continue today or tomorrow.
Downward for GameStop
GameStop’s share in the initial trade is down more than 19 percent. Part of the explanation, according to Reuters, is that the company has been considering a major issue recently in order to finance its new investment in online shopping.
Intel is up 1.43 percent in large individual shares. According to CNBC, the increase comes after the company announced plans to “make a comeback” and build two new chip factories in Arizona, which means $ 20 billion in investment.
Oil prices are at $ 62.76 a barrel – up 3.91 percent a day.
Preliminary compiled figures for the Purchasing Managers’ Index (BMI) in the United States were 59.1 in March, compared to 59.5 in the previous month, according to Direct Macro.