The New York Stock Exchange ended on a mixed note on Friday, marked by a market deprived of participants, the day following a holiday (Thanksgiving) and on the eve of a weekend.
The Dow Jones gained 0.45%, while the Nasdaq index lost 0.52% and the broader S&P 500 index ended close to balance (-0.03%).
“It was a quiet session today,” commented Nick Reece of Merk Investments.
Amputated by three hours compared to an ordinary session, it was thus sandwiched between the Thanksgiving holiday, Thursday, and the weekend.
Due to a lack of investors, the New York market might not rely on any notable economic news, in the absence of a new macroeconomic indicator.
Next week should be more animated, announced Nick Reece, with the program, in particular, the PCE price index as well as the ISM and PMI activity barometers, Thursday, then the monthly report on employment, Friday.
The latest US macroeconomic figures show an increasingly clear slowdown.
Several central bankers have pleaded in recent days for a deceleration of monetary tightening, in order to avoid a brutal recession, which has won over operators and enabled the indices to do well.
But, for Nick Reece, “we are still in a rebound specific to bear markets” (“bear market rally”), that is to say a parenthesis, with a medium-term direction still downwards.
The prospect of a possible recession in 2023 “remains a brake on the market”, as well as the Fed, which even if it might slow down, has not finished raising its rates.
The Dow Jones pulled out of the game on Friday thanks to several so-called defensive values, that is to say considered less sensitive to the economic situation.
Health, with the mutual UnitedHealth (+ 1.49%), the largest weighting of the Dow Jones, or the Merck laboratory (+ 0.64%), or industry, from Honeywell (+ 0.52%) to 3M (+0.81%), were thus sought-following sectors.
In the middle of “Black Friday”, a day traditionally marked by monster sales, the retail giant Walmart rose (+0.43% to 153.07 dollars).
According to data from the firm Captidy, the brand came first in searches related to sales on the internet, ahead of Amazon.
Apple was leaked (-1.96% to 148.11 dollars) while the giant factory in Zhengzhou, China, the largest iPhone manufacturing site in the world, has just been shaken by a major social movement which disrupts the production of the star phone.
Wedbush Securities estimates iPhone sales during Black Friday are expected to be 20% lower than last year, “largely due to insufficient supplies” to meet demand.
The resurgence of the coronavirus pandemic in China penalized Chinese companies listed on Wall Street, in particular the e-commerce giants Alibaba (-3.82%) and JD.com (-5.32%) or the manufacturer of electric vehicles XPeng (-3.28%).
The video game publisher Activision Blizzard (-4.07% to 73.47 dollars) took badly the announcement, by the Politico site, that the American consumer protection agency CFTC was preparing to challenge its takeover in court. by Microsoft.
Manchester United (+12.82% to 21.21 dollars), listed in New York, continued to benefit from the announcement on Tuesday of the Glazer family, owner of the football club, which plans to put it up for sale.
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