2023-12-05 15:37:08
New York (AFP) – The New York Stock Exchange was trading mixed, following starting in the red on Tuesday, with investors wondering whether to extend the pause started on Monday following an excellent month of November and before new US economic data.
Published on: 05/12/2023 – 4:37 p.m. Modified on: 05/12/2023 – 4:35 p.m.
3 mn
The Dow Jones index fell by 0.24%, the technology-dominated Nasdaq advanced by 0.39% following opting for positive territory, the S&P 500 only lost 0.12%.
On Monday, the technology sector weighed down the indices, causing the Nasdaq to fall by 0.84% to 14,185.49 points. The Dow Jones lost 0.11% to 36,204.44 points, having risen above 36,000 points on Friday for the first time since January 2022.
And the S&P 500 finished down 0.54% at 4,569.78 points. The broader index, the most representative of the market, should end the year up some 18% so far.
“There is a sense of heaviness in the air, with market participants wondering whether stocks can continue to rise as they have been,” said Patrick O’Hare of Briefing.com.
For Will Compernolle of FHN Financial, we will have to wait for the official data on employment in November which are published on Friday to know if the gloomy trend at the start of the week will continue.
Furthermore, “the announcement that Moody’s lowered China’s credit outlook from stable to negative also tempered some of the buyers’ interest this morning,” admitted Patrick O’Hare.
In terms of indicators, job vacancies fell sharply to 8.7 million in October from 9.4 million in September (revised figure), the lowest in more than two years, showing that the Fed’s monetary policy is cooling the market employment.
In the services sector, however, activity continued to grow in November at 52.7%, better than expected, and at a stronger pace than the previous month (51.8%), according to the ISM index published shortly following the opening that helped turn around the Nasdaq.
On the market, technology mega-caps were moving once more, in the green following their losses the day before, such as Amazon (+1.84% around 3:20 p.m. GMT), Alphabet (+1%), Apple (+2, 16%).
Shares of the CVS drugstore and pharmacy chain gained 2.85% following revising its sales upwards for 2024 to $366 billion. The brand also increased its quarterly dividend by 10%.
The action of American video game developer and publisher Take-Two Interactive lost 1.92%.
Its Rockstar Games studios posted online on Monday a first trailer for the next part of “Grand Theft Auto” (GTA), which is scheduled for release in 2025.
The AT&T telephone group was praised (+2.73%) for having invested in a 14 billion dollar contract in the modernization of its mobile telecommunications network by the Swedish Ericsson.
AT&T wants to “become a leader in the United States in the deployment of an open radio access network (Open RAN) on a commercial scale,” the two companies announced in a joint press release.
The Wells Fargo bank (-0.75%) specified that its severance costs for its staff would increase to nearly a billion dollars in the fourth quarter.
© 2023 AFP
1701796202
#Wall #Street #disarray #awaiting #economic #data
