Saturday , May 28 2022

Wall Street is reluctant to trade, oil and semiconductors


The New York Stock Exchange ended in a disorganized Friday, trembling amid renewed optimism on the commercial front, stabilizing oil prices and weak semiconductor industry.

Dow Jones Industrial Average emblematic index of Wall Street gained 0.49% to finish at 25,413.22 points.

The Nasdaq index, with a strong technological dye, dropped 0.25% to 7.247.87.

The S & P 500 general index grew 0.22%, reaching 2,736.27 points.

The New York market started in red, weakened by disappointing forecasts of Nvidia (-18.76%) and Applied Materials (+ 1.09%) supplying Nvidia semiconductor groups.

These projections are likely to relaunch the questions about a possible slowdown in growth. And the market "questions the prospect of increasing profits (companies) and the desire to pay expensive for less insured profits," said Patrick O'Hare briefing.

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

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

After a few changes at the beginning of trading on Friday, the index drastically gathered after the US president's comments, which ensured that China wants to conclude a trade agreement.

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

Several analysts believe that if an agreement were concluded, it would allow the New York Stock Exchange to begin sincerely after a few complicated weeks.

But the return was short-lived, and the clues go down again, while the CNBC financial chain cites White House sources, arguing that no deal is imminent and that Donald Trump only expresses optimism about the subject.

– Facebook puzzled in a controversy –

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

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

Among other values ​​of the day, Facebook lost 3.00%, while the group is embroiled in a new controversy triggered by a New York Times investigation that accuses the world's first social network to orchestrate a scandal campaign against his detractors.

Pacific Gas and Electric Company (PG & E) energy provider returned 37.54%. His action has declined in recent sessions, as his responsibility for the fire that devastated the city of Paradise in California has been evoked.

But the chair of California's public service commission in an interview with Bloomberg has assured he has not imagined that this key actor might go bankrupt, knowing he is likely to be asked for very serious damages.

Viacom media group, owner of MTV, Comedy Central and Nickelodeon, rose 2.49% after it recorded quarterly and annual results better than expected.

On the other hand, the results of Nordstrom (-13.66%) and William-Sonoma (-11.23%) chain stores were freshly received.

On the bond market, the 10-year debt fell to 3.069% at 9:30 GMT, versus 3.10% on Thursday night, and the 30-year to 3.322%, compared to 3.399% on the previous closing.

  1. Nasdaq

Source link