Saturday , October 23 2021

Wall Street hesitates, between trade, oil and semiconductors


The New York Stock Exchange ended on an unorganized Friday, debating within renewed optimism on the trade front, stabilization of oil prices and a weak semiconductor industry.

Wall Street's flagship index, the Dow Jones Industrial Average, rose 0.49% to 25,413.22 points.

The NASDAQ index, with a strong technological color, shed 0.15% and ended at 7,247.87 points.

The S & P 500 index rose 0.22% to 2,736.27 points.

The New York market started in red, weakened by disappointing forecasts of groups supplying semiconductors Nvidia (-1.77%) and Applied Materials (1.09%).

These forecasts are expected to answer questions about a possible slowdown in growth. And the market "puts in doubt the outlook for profit growth (companies) and willingness to pay dearly for profits now less insured," said Patrick Ohr briefing.

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

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

After some early trading fluctuations on Friday, however, the indexes rallied sharply after the US president's remarks to ensure that China wants to end the trade agreement.

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

Some analysts thought that if an agreement were signed, it would allow the stock exchange in New York to begin honestly after several complicated weeks.

But the rebound was short-lived, with clues being discussed again as the CNBC financial chain cites White House sources claiming that there is no close deal that Donald Trump will only express his optimism on the subject.

– Facebook got into trouble –

For Christopher Lowe 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 may have reached the floor," he said.

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

Among other entries today, Facebook lost 3.00% when the group is embroiled in a new controversy that resulted in an investigation by the New York Times accusing the world's first social network of inviting a campaign against the detractors.

Pacific Gas Company and Gas Electric Company (PG & E) recovered by 37.54%. His action plunged in recent meetings, with responsibility for the fire that destroyed the city of Paradise in California.

But the committee chairman in charge of California public services has in an interview with Bloomberg assured that he did not imagine that a key player could go bankrupt, knowing that he might be in demand for very important damage.

Viacom Media Group, owner of MTV, Comedy Central and Nickelodeon, rose 2.49% after posting better-than-expected quarterly and annual results.

On the other hand, the results of Nordstrom (-13.66%) and William-Sonoma (-1.23%) of store chains were fresh.

In the bond market, the 10-year debt rate fell to 9.66 GMT to 3.669%, compared with 3.10% on Thursday night and 30 years to 3.22%, compared with 3.399% at the previous close.

The Nasdaq

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