Wall Street ended up on Thursday
Par Chuck Mikolajczak
The New York Stock Exchange ended up on Thursday, the S & P-500 and the NASDAQ having seen initial gains fading, after the publication of a range of quarterly results and economic data, while the results of Apple and Amazon, two of the “Magnificent”, were expected after the closure.
The Dow Jones index sold 0.74%, or 330.30 points, to 44,130.98 points.
The wider S&P-500 lost 23.51 points, or 0.37%, to 6,339.39 points.
The Nasdaq Composite fell on its side from 7.23 points (0.03%) to 21,122.45 points.
The S&P-500 and the NASDAQ had increased respectively up to 1% and 1.5% during the session, before falling back and finally registering in red, such as the Dow Jones.
Two of Wall Street’s “Seven Magnificent” communicated their results on Wednesday evening.
Microsoft, who beat expectations over April -June, briefly crossed the 4,000 billion dollars in stock market valuation on Thursday, becoming only the second world company – after NVIDIA – to exceed this bar. The group ended up 3.5% after reaching a peak in session of 8.2%.
Meta Platforms jumped 11.3% after communicating quarterly forecasts above expectations and revised upwards the bottom of its annual capital expenses.
However, other technological groups involved in artificial intelligence (AI) have backed away, like the Broadcom and Nvidia flea manufacturers, plunging the semiconductor sector index.
In view of the movements of the day, Ellen Hazen, chief strategist of FL Putnam Investment Management, in the Massachusetts, highlighted two opposite trends, between the “rather bad performances” of flea manufacturers and the gains of the Microsoft, Amazon and Meta giants, which are “really well”.
A report published in the day by the American trade department shows that inflation in the United States has rebounded in June, while new customs duties have pushed prices up – a movement that could increase in the coming months.
Distinct data on unemployed weekly registrations suggest that the American labor market remains solid.
In addition to additional data on employment, expected on Friday, investors are watching for the entry into force of a range of American customs duties for countries that have not yet concluded a trade agreement with the administration of Donald Trump.
The American president, however, granted an additional 90 -day suspended sentence on Thursday in Mexico.
This question of customs duties remained in the background since Donald Trump announced in early April important “reciprocal” taxes against dozens of trade partners of the United States, then plunging the markets, before putting them on the break to allow negotiations.
Since then, Wall Street has rebounded. Its three main indices ended Thursday in the green for a third consecutive month.
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(Written by Jean Terzian)