Sunday , October 24 2021

Wall Street hesitates between trade, oil and semiconductor


The New York Stock Exchange ended on an unorganized Friday, which was awaiting renewed optimism at the trade front, stabilizing oil prices and weak semiconductor industry.

Wall Street flagship index, Dow Jones Industrial Average, received 0.49% to end 25,413.22 points.

The Nasdaq Index, with strong technological dyeing, gave up 0.15% to 7 247.87 points.

The broad S & P 500 index increased by 0.22% to 2.736.27 points.

The New York market began in red, weakened by the disappointing forecasts for groups delivering Nvidia semiconductors (-18.76%) and Applied Materials (+ 1.09%).

These forecasts are likely to resume issues of a possible slowdown in growth. And the market "challenges the prospect of profit growth (companies) and willingness to pay expensive for profits now less insured," says Patrick Hare briefing.

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

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

However, after some early trading on Friday, the index rose sharply following comments from the US president, which ensured that China would conclude a trade agreement.

Investors are very sensitive to all the headlines of the trade war that Washington and Beijing have taken for several months, especially a few days before a G20 summit where leaders of the two countries will meet.

Several analysts believe that if an agreement would be sealed, it would allow the New York Stock Exchange to start frankly after several complicated weeks.

But the rebound has been short-lived, with the clues rubbing again, as the CNBC's financial chain quotes White House sources claiming no agreement was imminent and Donald Trump merely expressed his optimism about the subject.

– Facebook wrapped in a controversy –

For Christopher Low of FTN Financial, Wall Street was also helped by the fact that oil prices did not increase their losses on Friday. After six weeks of decline, "we could have reached a floor," he said.

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

Among today's other values, Facebook has lost 3.00%, as the group is entangled in a new controversy triggering a New York Times survey accusing the first social network in the world to have orchestrated a melting campaign against his belacker.

Pacific Gas and Electric Company's energy supplier (PG & E) recovered 37.54%. His action had diminished in recent sessions, as his responsibility for the fire that ruled the city of Paradise in California was developed.

However, in an interview with Bloomberg, the chairman of the Commission in charge of public services in California has assured himself that he did not imagine that this key player could go bankrupt and know that he is likely to be asked to be injured very importantly. Viacom, owners of MTV, Comedy Central and Nickelodeon, increased 2.49% after having booked better than expected quarterly and annual earnings.

On the other hand, the results from Nordstrom (-13.66%) and William-Sonoma (-11.23%) retail chains were received fresh.

In the bond market, the 10-year debt rate fell to 9.30 GMT to 3.669%, compared to 3.10% Thursday night and 30 to 3.322%, compared to 3.399% at the previous closing.

  1. Nasdaq

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