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MARKET REVIEW. The New York Stock Exchange attempted to open in the green again on Thursday after several disappointing sessions, with investors turning to technology results.
To (re)consult market news
Stock market indices at the opening
In Toronto, the S&P/TSX collected +57.19 points (+0.26%) to 21,713.24 points.
In New York, the S&P 500 advanced +5.46 points (+0.11%) to 5,027.67 points.
THE Nasdaq lost -28.60 points (-0.18%) to 15,654.78 points.
THE DOW collected +191.17 points (+0.51%) to 37,944.48 points.
THE loon rose by +US$0.0002 (+0.0269%) to US$0.7266.
THE oil increased by US$0.00 (0.00%) to US$82.69.
L’gold rose by +US$6.90 (+0.29%) to US$2,395.30.
THE bitcoin lost -US$126.40 (-0.20%) to US$62,555.53.
Context
“The stock market is finding it increasingly difficult to maintain intraday gains as participants are more in de-risking mode after five consecutive positive months,” said Patrick O’Hare of Briefing.com.
The analyst believes that “valuations have been stretched to a point that has clashed with rising interest rates.”
Among the indicators of the day, weekly applications for unemployment benefits, which stagnated at 212,000, continue to “testify to a solid labor market which suggests good growth dynamics for the economy”.
Not necessarily what the stock market is looking for at the moment as it faces high interest rates on the bond market.
These were up slightly to 4.62% against 4.58% the day before, for ten-year Treasury bonds.
Activity in the Philadelphia industrial region jumped in April to 15.5 points when analysts expected it to stagnate.
Another element depicting a relatively dynamic economy, the American central bank (Fed) published its Beige Book on Wednesday.
This report, which comes two weeks before the next Fed monetary meeting, “brought largely good news,” said Art Hogan of B. Riley Wealth Management.
In March, American activity “progressed slightly and entrepreneurs declared themselves cautiously optimistic,” added the analyst.
Several Fed members were scheduled to speak Thursday.
On the value side, investors will be watching for the quarterly results of Netflix (NFLX, -0.39%) after closing.
The streaming leader will be followed next week by Tesla (TSLA)which was under pressure losing 3.53%, but also by Meta (META, +2.18%), Microsoft (MSFT, -0.72%) And Alphabet (GOOG, +0.04%).
Traders reacted to the publication of the results of the Taiwanese semiconductor giant TSMClisted in Taiwan, but also on the New York Stock Exchange, which published a quarterly profit up 9% year-on-year to 6.97 billion US dollars.
The stock of the AI chip manufacturer, which counts Apple and Nvidia among its clients, nevertheless fell 4.45% at 9:50 a.m.
The action Nvidia (NVDA) remained positive (NVDA, +0.57%).
The online sales site eBay gained 2.59% after favorable comments from analysts while the shares of Etsy, the craft site, fell 1.23%.
The stock of Donald Trump’s media company, TMTG, listed on the market under the acronym DJTlost 3.74% as the trial of the former president continues in New York, on a case of concealed payment during the 2016 campaign.
The title of Snap (SNAP)the parent company of the social network Snapchat, popular with adolescents, soared 6.23% while the American House of Representatives will once again examine on Saturday a bill which provides for the ban on TikTok.
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