Wall Street: Wall Street penalized by Apple, while waiting for Powell
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by Shreyashi Sanyal and Noel Randewich

(Reuters) – The New York Stock Exchange ended on a bearish note on Tuesday, with major tech stocks including Apple falling, pending a speech from Federal Reserve Chairman Jerome Powell on Wednesday.

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The Dow Jones index edged up 0.01%, or 3.07 points, to 33,852.53 points.

The broader S&P-500 lost 0.16% to 3,957.60 points.

The Nasdaq Composite, with a strong technological component, fell for its part by 65.72 points (-0.59%) to 10,983.78 points.

Investors were urged to be cautious on the eve of a speech by Jerome Powell on the outlook for the US economy and labor market. They hope to get signals on the evolution of the pace of interest rate hikes in the United States.

At individual values, Apple shares (-2.1%) fell for a fourth consecutive session due to doubts about iPhone production with the disruptions caused by the COVID-19 epidemic in China.

Another giant of the digital sector, Amazon lost 1.6%.

Rising oil prices, linked to hopes of an easing of anti-COVID measures in China after a weekend of protests, on the other hand carried the energy sector with gains of 0.7% and 1, 5% for the oil groups Exxon Mobil and Chevron.

In corporate earnings news, healthcare group UnitedHealth lost 0.8% on a fiscal 2023 profit forecast that fell short of expectations.

(Written by Shreyashi Sanyal and Ankika Biswas in Bangalore and Noel Randewich in Oakland, Bertrand Boucey)

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