2023-09-08 14:16:10
The New York Stock Exchange rose slightly on Friday shortly following the opening, attempting a timid rebound following three sessions of decline, in the absence of major macroeconomic news in the United States, before a busier week.
Around 2:00 p.m. GMT, the Dow Jones gained 0.05%, the Nasdaq index gained 0.36% and the broader S&P 500 index gained 0.25%.
“It’s a day without much news,” commented Edward Moya of Oanda, for whom the market “continues to digest the developments in China”, which once more published a series of bad indicators this week.
On the American side, “the debate on the trajectory of the economy has not yet been resolved,” he continued. “We should have good indications next week”, with the CPI price index (Wednesday), expected to rise, and retail sales (Thursday).
In the meantime, “investors are not really taking a position, and that is why we are going through a somewhat uncertain period”, according to the analyst.
The bond market was also trying to move forward, but without any more conviction. The yield on 10-year US government bonds, which moves in the opposite direction to their price, stood at 4.20%, compared to 4.24% the day before at closing.
On the stock market, Apple recovered a little (+1.18%) following two bad sessions, linked to press information according to which the Chinese authorities had banned employees of government agencies from using iPhones for professional or even bring their devices to their workplace.
The arms manufacturer Smith & Wesson drew at the opening (+13.90%), following having reported, Thursday following the market, better than expected results, including a turnover up 35% over one year. . Its margins were nevertheless eroded by an increase in costs and inventory reduction measures.
Supported by the escalation in black gold prices, oil companies were in demand, like ExxonMobil (+1.25%), at its highest in more than four months, ConocoPhillips (+1.53 %), or the oil services company Halliburton (+1.25%).
The games and sports betting platform DraftKings advanced (+2.25%), the day following the start of the NFL American football league season, a highlight for bettors in the United States.
The subscription clothing rental platform Rent the Runway collapsed (-32.36%) following publishing results which show a decline in its portfolio of active users (-5% over a quarter), even if the group reduced costs and losses.
The professional software publisher Adobe progressed (+0.58%) following a favorable note from a Mizuho analyst, for whom the group’s ability to integrate so-called generative artificial intelligence (capable of creating content on request in everyday language) positions it favorably.
Boeing remained poorly oriented (-2.04%) following statements from the group’s financial director on Thursday indicating a slowdown in 737 deliveries due to a technical problem.
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