Has the New York stock Exchange, on may 3, 2018 (Photo Bryan R. Smith. AFP)
The New York stock Exchange has ended in a scattered fashion on Thursday after a meeting very indecisive marked by some disappointing results and a renewed uncertainty on the forehead of trade relations with China or the nuclear deal the iranian government.
Its index feature, the Dow Jones Industrial Average, rose 0.02% to 23.930,15 points while the Nasdaq, in high coloring technology, has lost 0.18% to 7.088,15 points.
The expanded index S&P 500 fell 0.23% to 2.629,73 points.
“Overall, the earnings season is very good, and the recent decline of the indices makes me puzzled,” said William Lynch of Hinsdale Associates.
“All these good news may already be built-in to the share price or may be the investors are they saying that it has reached a peak”, he advanced.
On Thursday, the indices have been shaken by the results or forecasts, disappointing the electric car manufacturer Tesla (NASDAQ:TSLA) (-5,55%), and the platform of online music Spotify (NYSE:SPOT) (-5,66%), two groups considered to be rising stars.
The market is also feverish in the face of the outstanding issues on the international scene as the ongoing discussions in Beijing between the chinese authorities and a u.s. delegation of very high level on the trade relations between the two countries, or the decision to be taken by the president, Donald Trump on the nuclear deal the iranian government.
– Activision suspended –
But the main factor of the weakness of the equity market at the moment is “the same behavior of investors,” who seem to have “a persistent tendency to sell as soon as the clues reinforce a little and lack the conviction to buy when they go down,” said Patrick O’hare of Briefing.
On the bond market, rates could lie down: the yield on Treasury bills to 10 years fallen to 20: 30 GMT to 2,944%, compared to 2,966% Wednesday evening, and one to 30 years to 3,120%, compared to 3,146 per cent to the previous closing.
The indicators of the day were both in half-tone, between an increase of the productivity in the first quarter a little bit less strong than expected, a slight increase of entries weekly jobless claims and a narrowing of the trade deficit of the United States thanks to exports to a record.
The session was also marked by the temporary suspension of the action of the publisher of video games Activision Blizzard, while his title fell by over 5% after the broadcast inadvertently information on its results through a press agency. The group was finally released officially its quarterly figures prior to closing and has lost 2,30%.
Among the other values of the day, the investment fund KKR (NYSE:KKR) is mounted 2.98% after it announced a change of legal status to adopt that of a company, which will make him pay more taxes, but will allow him to attract more investors.
The mobile phone operator Sprint has advanced 0.77% in the aftermath of the dissemination of its results and of the announcement of the appointment at its head of the former director-general of the group of telecoms and media Altice (AS:TCAA), Michel Combes.
The giant of the chemistry DowDupont, which announced better than expected results for the first quarter, but has also highlighted the decline in sales in its division of agriculture, was down 0.03%.
New York Times remained stable. The daily has earned, net, 139.000 subscribers online during the first three months of 2018. But the revenues from advertising have fallen.
The insurer AIG, which announced a dip of 21% in net profit in the first quarter, fell from 5.29%.