The main indices of Wall Street opened lower this Friday, as heavyweights in the banking sector such as JPMorgan, Wells Fargo Y Citigroup reported mixed results for the fourth quarter, as big tech extended losses after a sharp sell-off.
At the open, the Industrial Average Dow Jones it lost 117.19 points, or 0.32%, to 35,996.43 units; the index S&P 500 it fell 21.04 points, or 0.45%, to 4,637.99 units; and the Nasdaq Composite lost 98.79 points, or 0.67%, to 14,708.02 units.
Earlier it was announced that production in the United States factories It fell unexpectedly in December, pressured by a slowdown in activity at motor vehicle plants amid a global shortage of semiconductors.
Manufacturing output fell 0.3% last month after rising 0.6% in November, the Federal Reserve reported Friday morning. Production increased 3.5% compared to December 2020.
Manufacturing, which accounts for 11.9% of the country’s economy, continues to be supported by reduced inventories at businesses as demand for goods remains strong. But Covid-19 and the recovery from the pandemic have overloaded supply chains, causing high inflation.
Manufacturing output increased at an annualized rate of 4.9% in the fourth quarter, after rising at a 4.0% pace in the July-September quarter.
Output at auto plants fell 1.3% last month after rising 1.7% in November. Motor vehicle manufacturing is about 6% below its level a year earlier.
Last month’s drop in manufacturing output combined with a 1.5% decline in utilities sent industrial production down 0.1%. That followed a 0.7% gain in November. Utilities were affected by unusually hot weather in December, reducing demand for heating.
Mining production increased 2.0 percent. Industrial production grew at a rate of 4.0% in the fourth quarter. That followed a 3.5% pace of increase in the third quarter.
