Wednesday , June 16 2021

Wall Street varies between trade, oil and semiconductors

The New York Stock Exchange ended on a chaotic Friday, steeped in a wave of optimism on the trade front, stabilization of oil prices and weak semiconductor industry.

The Wall Street flagship index, Dow Jones Industrial Average, gained 0.49% to reach the level of 25,413.22 points.

The Nasdaqu index, with a strong technological color, gave 0.15% to completion at 7 247.87 points.

The overall S & P 500 index increased by 0.22%, closing with 2,376.27 points.

The New York market started in the red, weakened by disappointing forecasts of the Nvidia semiconductor supply groups (18.76%) and used materials (+ 1.09%).

These forecasts are likely to reinvigorate questions about a possible slowdown in growth. And the market "questions the prospects of profit growth (the company) and the willingness to pay dearly for profits now less insured," said the briefing of Patrick O & # 39; Hare.

These doubts about the ability of companies to generate higher profits, especially in the technology sector, have recently had a significant impact on the rating.

During the week, Dow Jones fell by 2.2%, Nasdaq by 2.1%, and S & P 500 by 1.6%.

However, after some fluctuations in early trade on Friday, the indices increased sharply after statements of the US president, which ensured China's conclusion of a trade agreement.

Investors are very sensitive to all the trade warheads that Washington and Beijing have been conducting for several months, especially a few days before the G20 summit, in which the leaders of both countries will meet.

Many analysts believe that if the deal were closed, it would allow the New York Stock Exchange to start honestly after a few complicated weeks.

The rebound was short-lived, and the views irritated again when the CNBC financial chain referred to the White House sources, claiming that no transaction was inevitable, and Donald Trump only expressed his optimism about the topic.

– Facebook entangled in controversy –

For Christopher Low from FTN Financial, Wall Street also helped that oil prices did not increase losses on Friday. After six weeks of decline, "we could reach the level," he said.

The index representing energy companies in S & P 500 was 1.10%.

Among other values ​​of the day, Facebook lost 3.00%, because the group is embroiled in new controversy triggered by the New York Times investigation, which accuses the first social network in the world of organizing a campaign against its critics.

The power producer from the Pacific and Electricity (PG & E) collected 37.54%. His action dropped sharply in recent sessions when his responsibility for the fire that ravaged the city of Paradise in California was triggered.

But the chairman of the commission for public services in California in an interview with Bloomberg assured that he could not imagine that this key player would go bankrupt, knowing that he would probably be asked for compensation for very important.

The media group Viacom, the owner of MTV, Comedy Central and Nickelodeon, increased by 2.49% after publishing better-than-expected quarterly and annual results.

On the other hand, the results of the Nordstrom chain stores (-13.66%) and William-Sonoma (-13.23%) were recently received.

On the bond market, the 10Y bond rate fell to 9.30 GMT to 3.069%, against 3.10% on Thursday night and 30 years to 3.322%, against 3.399% in the previous close.


Source link