© Reuters. WALL STREET ENDS ON A NOTE OF MIXED
NEW YORK (Reuters) – The New York stock Exchange ended on a note of mixed on Wednesday, with the indices S&P-500 and Nasdaq have been worn by the values, media and technology, while the Dow has again suffered of trade tensions between China and the United States.
The Dow Jones has lost 42,41 points, or 0.17%, 24.657,80, declining for the seventh session in a row. The S&P-500, wider, took 4,73 points, or 0.17%, to 2.767,32. The Nasdaq Composite has advanced its side of 55,93 points (+0,72%) to usd 7,781,52 points, a record level.
In the wake of new threats from Donald Trump to taxing $ 200 billion of chinese goods imported, a chinese newspaper has denounced the “bloodlust” of the us president, but the spokesman of the ministry of Commerce in Beijing has discussed progress in the ongoing discussions.
For its part, the european Union announced that it would be as soon as Friday of the customs duties of 25% on a series of american products in response to u.s. taxes on imports of steel and aluminum.
“We are seeing a small pullback concerns macroeconomic shall nevertheless continue to weigh on the trend of the market until we have some answers on world trade”, pointed out Art Hogan, head of strategy at B. Riley FBR. “For the moment, the attention is focused on the operations of mergers and acquisitions.”
Twenty-First Century Fox (NASDAQ:FOX) has finished at the head of the S&P-500 and jumped of 7.54%, its highest level ever, after it announced that Walt Disney had raised its bid on its assets in film, television, and the international 71.3 billion ($61,5 billion euros), a proposal superior to that of Comcast (NASDAQ:CMCSA).
Disney has taken 0,99% and Comcast was 1.77%. The S&P in the media sector has advanced its side close to 2%.
The GAFA – Alphabet, Amazon (NASDAQ:AMZN), Facebook (NASDAQ:FB) and Apple (NASDAQ:AAPL), with Netflix (NASDAQ:NFLX), have also supported the indices, with increases ranging from 0.4% to 2.9%.
Down, Starbucks (NASDAQ:SBUX) fell $ 9.07 per cent, sharper decline in the S&P-500, in reaction to forecasts below expectations, which may lead analysts to question its long-term growth in the United States and China.
Similarly, the giant software company Oracle (NYSE:ORCL) declined from 7,46% in spite of good results of its fourth quarter to 31 may, after having made forecasts disappointing for the current quarter.
The chain of pharmacies american Walgreens Boots Alliance, which will replace as from June 26, General Electric (NYSE:GE) (-0,54%) in the Dow Jones, has made a leap of 5.25%.
Boeing (NYSE:BA) has taken over a little of 0.46%, after having recorded a loss of more than 6% in six days. Its commercial director is very confident about the ability of the group to enter service in 2025 a plane of the “middle market”.
Paypal has taken 1,69% after the announcement of the redemption of the payment platform Hyperwallet to 400 mlns of dollars.
On the foreign exchange market, the dollar hovered around its peak of 11 months in the face of a basket currency, the signs showing that China is willing to tolerate a stronger yuan offset the impact of trade tensions. The euro is also evolving near its levels of the previous day.
The greenback has slightly reduced its losses in the afternoon after the president of the u.s. central bank, Jerome Powell, has confirmed the scenario of gradual rises in rates in a speech in Sintra, Portugal.
On the bond market, the yield on Treasuries to 10-year is back up to 2,9389%, after its decline on Tuesday, the prospect of higher us interest rates having prevailed on concerns over the world trade.
The price of oil are changing in the disorder, with an increase in the light crude american, in reaction to the unexpected drop in inventories in the country, and a decline in Brent before Opec meeting on Friday that could decide to increase slightly the production of oil.
(Medha Singh, Laetitia Volga and Juliette Rouillon for the French service)