(Photo: Getty Images)
MARKET REVIEW. The New York Stock Exchange opened in mixed order on Wednesday, but remained well oriented thanks to a series of company publications which, overall, favorably surprised the market.
To (re)consult market news
Stock market indices at noon
In Toronto, the S&P/TSX fell -159.97 points (-0.73%) to 21,851.75 points.
In New York, the S&P 500 fell by -17.90 points (-0.35%) to 5,052.65 points.
THE Nasdaq lost -32.40 points (-0.21%) to 15,664.24 points.
THE DOW fell by -152.43 points (-0.40%) to 38,351.26 points.
THE loon decreased by -US$0.0033 (-0.4453%) to US$0.7288.
THE oil fell -US$0.53 (-0.64%) to US$82.83.
Gold fell by -US$1.40 (-0.06%) to US$2,340.70.
THE bitcoin fell by -US$1,929.56 (-2.90%) to US$64,618.39.
The context
“We see the appetite for equities returning, with the relief of not seeing the conflict between Israel and Iran expand,” commented Patrick O’Hare of Briefing.com in a note.
Furthermore, “it seems that the forecasts of the companies that published today remain positive,” noted Peter Cardillo of Spartan Capital. “These publications are providing momentum to the market, and I think that will continue. »
Like the day before, the results revealed by several big names in the stock market were, overall, better than expected.
Although in full turbulence, Boeing (BA, +1.29%) thus capitalized on its financial results which were less poor than expected by analysts. The defense and aerospace division partially offset the setbacks in commercial aviation.
Another acclaimed publication, that of the laboratory Biogen (BIIB, +5.62%)who said he was optimistic about the rise of new treatments, notably Zuruvae against postpartum depression or Leqembi, which slows the progression of Alzheimer’s disease.
The cable operator AT&T (T, +0.09%) exceeded expectations in terms of net profit, new telephone subscribers and cash flow, which put it in the green.
Although its results were disappointing, Tesla (TSLA) passed the second (+12.70%), investors being more interested in the prospect of a new model at a more accessible price, planned for 2025. “The impression is that (boss Elon) Musk has firmly taken up the reins,” wrote analysts at Wedbush Securities.
The aeronautics and defense group General Dynamics (GD) fell (-4.36%) after publishing a net profit lower than projections. The manufacturer of the famous Abrams tanks nevertheless achieved a turnover higher than estimates, thanks in particular to the strong growth of its defense systems division (+20% over one year).
The hotel group Hilton (HLT) was gaining color (+5.64%), despite a net profit lower than expected. The McLean (Virginia) group has seen its occupancy rate increase, as well as its average rate, and plans to add several tens of thousands of rooms to its portfolio.
After making a correction last week, the technology sector continued its rebound.
Meta was in spirit (META, +0.59%), many considering the group as the primary beneficiary of a possible disappearance of TikTok. The American Senate adopted a text on Tuesday which requires the Chinese parent company of the social network, ByteDance, to sell TikTok under penalty of being banned in the United States.
Another sought-after value in the technology sector, Texas Instruments (TXN) rose 5.92% after the Dallas group said it expected a rebound in demand for semiconductors in the second half of the year, which would extend into 2025.
This optimistic message benefited competitors AMD (AMD, +2.24%), Broadcom (AVGO, +2.07%) or Qualcomm (QCOM, +2.31%).
Investors favored the toy manufacturer Hasbro (HAS, +12.30%)which published sharply declining results but reported a drastic reduction in its stocks and saw video game turnover increase.
Subscribe to our thematic newsletter:
Personal Finance — Every Friday
Get inspired by the advice of our financial planning experts and all the news that may affect the management of your wealth.
