2023-11-27 22:20:39
Wall Street sign at the New York Stock Exchange (NYSE)
par Stephen Culp
The New York Stock Exchange ended down on Monday the day following the Thanksgiving holiday, as the holiday season opens with traders offering cut-off prices to attract bargain hunters on Cyber Monday.
The Dow Jones index fell 0.16%, or 56.68 points, to 35,333.47 points.
The broader Standard & Poor’s 500 lost 8.91 points, or 0.20% to 4,550.43 points.
The Nasdaq Composite fell 9.83 points (0.07%) to 14,241.022.
The three main American indices ended lower.
“Markets are taking a breath to digest the gains seen in November,” said Tom Hainlin, a strategist at US Bank Wealth Management in Minneapolis.
Internet discounts as part of Cyber Monday should encourage Americans to spend 12 billion dollars (11 billion euros), according to Adobe Analytics, the latest sign of the rebound in American consumption, which accounts for 70% of the GDP of States -United.
Consumer resilience and labor market tensions amid an economic slowdown are leading market observers to believe that even if the Fed has reached the end of its tightening cycle, it might maintain its restrictive policy on interest rates. interest longer than expected.
A slew of Fed officials are scheduled to speak this week and investors are also awaiting the release of the “Beige Book,” the Fed’s compendium of reports on the economy and the PCE Consumer Price Index for October .
“We expect the Fed to continue to be cautious regarding conclusions that we have reached the end of the rate hike,” announced Tom Hainlin.
On the value side, on this Cyber Monday, Affirm Holdings gained 12% thanks to its “buy now, pay later” formula.
Online sales platforms Etsy and Shopify gained 3% and 4.9% respectively.
(Version française par Zhifan Liu)
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