On the eve of Thanksgiving, the financial markets ended in disorganized order on Wednesday evening, after a session marked by the decline in Tech values.
No session on Wall Street this Thursday, November 28, the day of Thanksgiving celebrations. Investors were reserved on the eve of the American public holiday, while the European stock markets closed in disorganized order, the CAC 40 marked by political uncertainty in Paris. On the other hand, the Tokyo Stock Exchange is regaining color after a gloomy start to the week, driven by the semiconductor sector.
Low enthusiasm on Wall Street
The New York stock market closed lower on Wednesday evening, with investors showing little enthusiasm before this weekend cut by one day and a shortened three-hour session on Friday. The Dow Jones fell 0.31%, the Nasdaq 0.60% and the S&P 500 0.38%. The indices were pulled down by the Tech sector, which fell by 1.71%. Large capitalizations marked time, like Nvidia (-1.15%) and Microsoft (-1.18%).
The day was punctuated by the publication of several economic indices: investors were reassured by a new growth estimate for the third quarter at 2.8%, as well as by falling unemployment figures. On the other hand, the PCE index, the Federal Reserve’s main tool for measuring inflation, showed 2.3% over one year in October, up compared to September, driven upwards by the prices of services. . Enough to delay the Fed’s decision to lower its rates.
European markets in disarray
The risk of a motion of censure likely to overthrow the French government weighs more and more on the Paris Stock Exchange. This Wednesday, the CAC 40 fell 0.72%, while the Franco-German spread reached 85.2 basis points at closing, after breaking a record since 2012 during the day. In Frankfurt, the Dax also fell slightly (-0.18%) while in London, the Footsie gained 0.20%, driven by the real estate sector.
Sucked in by Wall Street, the Tech sector fell by 1.37%, at the same time as the automobile sector lost 0.37%, weighed down by fears of protectionist measures decided by the future Trump administration.
Tokyo in the green, Chinese stock markets down
The trend at the start of the week is reversed on the Asian financial markets this Thursday. The Tokyo Stock Exchange closed its day’s session in the green, with the Nikkei climbing by 0.56% and the Topic by 0.82%. Semiconductors shone, invigorated by media statements according to which American restrictions on the sector would not be as rigorous as feared: Tokyo Electron thus jumped 6.74%, while Screen Holdings climbed 6.25%. .
In China, on the other hand, financial markets are rife with concerns about upcoming US restrictions on chip supplies. Around 7:30 a.m., the Hang Seng index in Hong Kong fell 1.24%. At the same time, the Shanghai composite index lost 0.05% and that of Shenzhen fell by 0.07%.
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