Wall Street operates in a scattered fashion (Photo Bryan R. Smith. AFP)
Wall Street has evolved in a haphazard manner after opening lower on Wednesday, undermined by the fall in securities Boeing (NYSE:BA), General Motors (NYSE:GM) and Fiat Chrysler after the publication of their quarterly results.
Vers 14H20 GMT, the index feature of the place in new york, the Dow Jones Industrial Average, lost 0,39%, 25.142,60 points.
The Nasdaq, in high coloring technology, advanced 0.04%, 7.844,24 points.
The expanded index S&P 500 dropped 0.04 percent to 2.819,29 points.
The New York stock Exchange had already ended Tuesday in a haphazard manner, the results were very well received by a few companies, unmasking a slight worry to investors in the context of trade war: the Dow Jones had taken 0,79% and the Nasdaq lost 0.01 percent.
On Wednesday, as Boeing dropped 3.24 per cent, while two charges for a total amount of 418 million related to an increase in costs of tanker aircraft KC-46 came to overshadow a jump of 25.5% in net income in the second quarter.
General Motors fell about him of 7.19% after lowering its annual forecasts, citing the rising costs of raw materials, as a result of new taxes on imports of steel and of aluminium imposed by the administration Trump.
Fiat Chrysler (FCA), of which the iconic boss for 14 years, Sergio Marchionne has just died, plunged 11,28% after the fall of its net profit to 35% in the second quarter, significantly below analysts ‘ expectations.
These results “weigh on the morale of the investors,” observed analysts at Charles Schwab.
– Third quarter –
More broadly, Phil Davis, PSW Investment, pointed out that 87% of the companies in the S&P 500 that have released on Tuesday night their results had beaten analysts ‘ estimates.
However, these companies “are no better than 4.5% on average, compared to estimates, compared to 5.6% last year,” he observed. “In fact, analysts are lowering their forecasts for the third quarter,” he added.
Among the other companies to have published their results, the merchant of sodas and non-alcoholic drinks Coca-Cola took 2,30% after having exceeded expectations in the second quarter, taking advantage of a renewed attractiveness of the bottles of the brand of the same name, in particular the drinks light.
The group messaging american UPS (+3,42%) has benefited in the second quarter of the rise of online commerce, which boosts the number of parcels to carry, and a rise in its price.
After the closing date are expected results from Facebook (NASDAQ:FB), Gilead (NASDAQ:GILD) Sciences, Mondelez, PayPal, and Ford (NYSE:F).
Investors were also on Wednesday in expectation of the first steps in the Stock of the company, Bloom Energy, specializing in the energy sector, under the symbol “BE”.
The uncertainty in the markets at the opening was also linked to the meeting between the president of the european Commission, Jean-Claude Juncker, and the president of america, Donald Trump, who will discuss the business issues, noted Patrick O’hare of Briefing.
The bond market is the house: the yield on the us debt to ten years fell to 2,942%, compared to 2,949% on Tuesday to close and one to 30 years, 3,061%, compared to 3,076% by the end of the previous session.