An operator of the New York Stock Exchange (AFP / ANGELA WEISS)
The New York Stock Exchange caught its breath on Monday, moving in slight decline, after a series of records last week, driven by the enthusiasm around AI and Nvidia.
The Dow Jones index fell by 0.32%, the technology-dominated Nasdaq remained 0.06% below its record on Friday. The S&P 500 dropped 0.12% around 4:00 p.m. GMT.
The American semiconductor giant Nvidia, designer of chips for artificial intelligence, which was about to rise to first place among the world’s largest capitalizations in futures trading before the opening on Wall Street, gained 0.11 %.
Nvidia was neck and neck with leaders Microsoft (-0.11% at 4:05 p.m. GMT) and Apple (+1.11%), the valuations of the three companies exceeding $3.2 trillion.
Nvidia shares have increased by almost more than 170% since the start of the year in the face of insatiable demand for Nvidia’s chips, highly prized for the development of so-called generative artificial intelligence.
Overall, the stock market indices were catching their breath after a good week fueled by successive records for the broader S&P 500 index, up weekly by 1.6% and especially for the Nasdaq (+3.2%).
Conversely, the Dow Jones lost 0.50% over the week.
“It looks like the game of hide and seek between tech on the one hand and the rest of the market on the other is going to continue,” suggested Patrick O’Hare of Briefing.com, highlighting investors’ bias toward tech these days.
For this shortened start to the week, “most of the attention will focus on macroeconomic developments,” added the analyst.
On Wednesday, American markets will be closed to observe the June 19 holiday, “Juneteenth”, which celebrates the end of slavery in the United States.
Among the expected indicators are retail sales and industrial production forecast Tuesday for the month of May.
Furthermore, several members of the American central bank (Fed) will speak this week, including the president of the New York Fed John Williams.
The chances of a rate cut as early as September have increased in recent days in the eyes of the market, rising to 67.7%, according to calculations on CME Group futures products.
Bond yields rose slightly to 4.27% compared to 4.22% on Friday for ten-year bonds after their rapid decline due to circumstances on the European market, where French debt rates soared.
On the stock market, the electronic store brand Best Buy climbed 1.34% after favorable comments from analysts and the announcement of the distribution of a comfortable dividend.
Several distributors were sought after such as Dicks Sporting Goods (+2.71%), Target (+0.93%) or Gap (+1.66%).
The cryptocurrency exchange platform Coinbase fell 3.78% in the wake of a further decline in bitcoin, a risk asset, to $65,213 (-1.89%).
On the eve of the week of Independence Day on July 4, which marks the start of the summer vacation, Airbnb shares were in demand (+2.22%) as well as Uber (+0.85%). .
Airlines like Delta (+0.65%) or American Airlines (+1.03%) were on the rise.
Nasdaq
