2023-10-13 20:01:32
The New York Stock Exchange, which had started in positive territory, concluded divided on Friday clouded by geopolitical risks before the weekend which caused purchases of oil and gold.
The technology-dominated Nasdaq fell 1.23% to 13,407.23 points while the Dow Jones gained 0.12% to 33,670.29 points. The S&P 500 lost 0.50% to 4,327.78 points.
Ten-year yields on Treasury bonds fell once more to 4.61% around 8:00 p.m. GMT instead of 4.69% the day before.
“Markets are expecting a very bad weekend in Israel and Gaza,” said Adam Sarhan of 50 Park Investments. Several thousand Palestinians fled Gaza City on Friday, hoping to find refuge further south following an appeal to civilians launched by Israel, which is preparing for a ground offensive in retaliation for the bloody attack launched by Hamas.
The head of American diplomacy Antony Blinken called on Israel to minimize civilian losses.
The markets like certainty and “we are in a hyper uncertain environment, not only geopolitically but also in terms of company results”, as the quarterly announcement season begins, noted Adam Sarhan.
A sign that investors were moving towards safe havens, gold rose by more than 3%, silver by more than 4%.
Oil prices ended with a jump of 5.86% for the barrel of West Texas Intermediate (WTI).
Energy stocks have risen sharply, like ExxonMobil (+3.22%) and Chevron (+1.76%).
“This is perhaps the most dangerous time the world has seen in decades,” said JPMorgan CEO Jamie Dimon as he announced solid results for the leading American bank. , in terms of assets.
JPMorgan Chase (+1.56%) posted a sharp increase in net profit in the third quarter but said it expected inflation to remain at a high level for some time. The bank posted a profit of $13.15 billion (+35%).
The Wells Fargo group (+3.10), the country’s fourth largest bank, also beat analysts’ forecasts, posting a profit above expectations and raising its annual forecasts for income from interest payments.
Citigroup (-0.20%) also announced a solid increase in its turnover at 9% and 2% for its profit in the 3rd quarter compared to last year.
Elsewhere on the market, Microsoft (-1.04% to $327.73) announced that it had finalized the takeover of video game publisher Activision Blizzard which was suspended from a green light from the British competition authority (CMA). ).
Quotation of the title of the publisher of the game “Call of Duty” had not resumed on Friday on the Nasdaq.
In aeronautics, Boeing fell 3.27% as a trade press outlet, The Air Current, said additional inspections were planned on the production of its flagship 737 MAX aircraft, which might further weigh on production rates.
Without progress in automobile wage discussions, manufacturers continue to suffer from strike action. General Motors lost 2.14% and Ford lost 1.50%.
Birkenstock, a German manufacturer of luxury sandals, will have ended its first week on Wall Street in the red. The “BIRK” stock closed at $36.40 (-3.06%), almost $10 less than its IPO price on Wednesday on the New York Stock Exchange, which seemed too greedy to investors.
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