Wall Street opens lower after IBM and Tesla results

PARIS (Reuters) – The New York Stock Exchange opened lower on Thursday amid risk aversion after mixed results and forecasts from several companies like Tesla and IBM.

In the first exchanges, the Dow Jones index lost 84.98 points, or 0.24%, to 35,524.36 points and the Standard & Poor’s 500, larger, fell 0.12% to 4,530.94 points.

The Nasdaq Composite lost 0.09%, or 13.412 points, to 15.108.266.

The resurgence of risk aversion is also fueling concerns about the impact of disruptions in global supply chains on companies’ financial accounts.

Investors are particularly watching the forecasts of companies, which are facing rising costs, labor shortages and supply difficulties.

The Dow Jones and S & P-500 indices are also close to their all-time high, prompting the market to be cautious.

In the macroeconomic chapter, weekly jobless claims fell in the United States during the week to October 16, to 290,000 against 296,000 the previous week, or at a low since March 2020, the start of the COVID-19 epidemic.

Wall Street slightly reduced its losses in futures contracts after the release of this statistic.

The “Philly Fed” index also showed that business conditions in the Philadelphia region had deteriorated in October.

Values, IBM, down 6.71%, and Tesla, down 0.8%, weighing on the trend. The US computer giant on Wednesday posted quarterly revenue below market expectations, while the automaker warned that disruptions in supply chains could put pressure on its margins in coming quarters .

On the upside, AT&T (+ 1.1%) and Dow (+ 0.83%) are benefiting from better than expected results.

In terms of sectors, technology and energy recorded the largest drops in the S&P.

In the bond market, the yield on ten-year US Treasuries gained 1.6 basis points to 1.6515% after reaching a five-month peak at 1.674% in the session.

Oil prices are falling again after having benefited the day before the report by the US Energy Information Agency (EIA), which showed a drop in stocks in the United States.

(Report Claude Chendjou, edited by Sophie Louet)