(Washington) The New York Stock Exchange closed in disarray on Tuesday, investors having digested the producer price index in the United States, before turning their attention to the publication of consumer prices on Wednesday.
Posted at 10:38 a.m.
Updated at 5:13 p.m.
The Dow Jones advanced 0.52%, the NASDAQ index lost 0.23% and the broader S&P 500 index gained 0.11%.
“The market is in a waiting position,” reports Peter Cardillo of Spartan Capital Securities to AFP.
At the start of the session, investors rather welcomed the producer price index in the United States (PPI), which measures inflation on the producer side: they increased in December by 0.2%, compared to 0.4 % in November.
This slowdown was not expected by analysts, who instead expected an increase of 0.4%, according to the consensus published by MarketWatch.
“Now, the market is preparing for the Wednesday publication of the Consumer Price Index (CPI) and, of course, the launch of the corporate results season with the big banks” such as JPMorgan, Wells Fargo or Citigroup , explains Mr. Cardillo.
On Tuesday, investors also digested press information according to which Donald Trump’s economic team would consider gradually increasing customs duties month after month, as negotiating leverage, which could limit their inflationary impact.
In this context, “the Russell 2000 (which brings together 2000 SMEs, Editor’s note) could probably continue to outperform, because many stocks are national and would therefore not be affected by a significant increase in customs duties”, underlines Peter Cardillo.
At the close in New York, the small and medium-sized business index rose 1.13%.
On the stock market, Chinese companies listed in New York stood out, driven by the prospect of only a gradual increase in customs duties, including Alibaba (+1.42%) and its competitors in the e-commerce sector, PDD (+2.24%) and JD.com (+4.04%).
-The Eli Lilly laboratory, the main competitor of the Danish giant Novo Nordisk in the anti-obesity treatment market, fell by 6.59%, after announcing that it “expected” a turnover of around $45 billion in 2024, in an increase of 32% compared to the previous year, but below the forecasts made in the fall.
The American department store chain Macy’s was still in the red (-3.71%), after falling by more than 8% the day before. The group announced Monday that its fourth-quarter revenue would be at the lower end of its target range, between $7.8 and $8 billion, or even “slightly lower.”
The TSX makes a slight gain
Canada’s main stock index rose Tuesday, while U.S. markets were mixed.
The S&P/TSX Composite Index closed up 52.26 points at 24,588.58 points.
On the currency market, the Canadian dollar was trading at an average rate of 69.58 US cents, up from 69.39 US cents on Monday.
On the New York Mercantile Exchange, crude oil prices fell 93 cents to US$76.37 per barrel and natural gas prices rose four cents to US$3.97 per million BTUs.
The price of gold rose US$3.70 to US$2,682.30 an ounce and copper jumped a cent to US$4.34 a pound.
The Canadian Press
