Operators of the New York Stock Exchange (AFP / ANGELA WEISS)
The New York Stock Exchange closed lower on Monday, as investors prepare to go through a zone of turbulence on the eve of the presidential election and a few days before a new meeting of the American central bank.
The Dow Jones fell 0.61%, the Nasdaq index lost 0.33% and the broader S&P 500 index lost 0.28%.
“We are seeing profit-taking (…) as we approach what is perhaps the busiest week of the year,” Adam Sarhan, of 50 Park Investments, commented to AFP.
A few hours before the American election which promises to be particularly close, “there are a lot of fears accumulating”, adds the analyst.
At the opening Monday, the American market reacted to the publication of a poll by the daily Des Moines Register, giving the Democratic candidate in the lead against the former president in Iowa, a state where Donald Trump won in each of the last elections.
This rise of Kamala Harris in the polls caused the yield on 10-year US government bonds to fall to 4.29%, compared to 4.38% at the close on Friday. Earlier in the day, they had fallen to 4.27%.
“There will be a lot of back and forth on the market (…) until the winner is announced,” said Mr. Sarhan.
Wall Street “hopes for a clear result and that there is no dispute, because the markets like certainty”, he added.
Investors are also awaiting the meeting of officials of the American central bank (Fed) on Wednesday and Thursday.
The Fed lowered its key rates by half a percentage point in September, and two additional quarter-point cuts are anticipated by the end of 2024, an additional half-point less in total.
In the table of values, Nvidia advanced (+0.48%) after the announcement on Friday of its integration into the famous Dow Jones index.
The semiconductor giant will replace its competitor Intel (-2.93%) before the opening of the session on November 8 on Wall Street.
Several nuclear energy companies fell on Monday, affected by the refusal of the American energy regulator of a project to supply power to Amazon (-1.09%).
The operator Talen Energy, with whom Amazon had agreed to buy a data storage and processing center, lost (-2.23%).
Large operator of nuclear power plants in the United States, Constellation Energy (-12.46%) collapsed, as did Vistra Corp (-3.15%).
The energy sector shone, benefiting from the rise in oil prices and helped by the announcement of a postponement of the production increase of the OPEC+ alliance (Organization of the Petroleum Exporting Countries and its partners).
ExxonMobil (+3.18%), Chevron (+0.59%), EOG Resources (+1.73%) and ConocoPhillips (+0.95%) all finished in the green.
Tesla was sanctioned (-2.47%) after the decline in its sales of electric vehicles in China, while its Chinese competitor NIO was rewarded (+0.78%) for good figures.
Boeing kept its head above water (+0.31%) while the more than 33,000 striking workers of the aircraft manufacturer were to vote on a new draft social agreement on Monday.
Nasdaq
