Wall Street: an icy welcome for some quarterly – archyworldys

(CercleFinance.com) – Wall Street trades on a hesitant note on Friday, disappointing company results prompting investors to be cautious after recent records set by the Dow Jones and S&P 500.

At the end of the morning, the Dow Jones advances by 0.2% to 35,681.8 points, after setting a new all-time high above 35,765 points, while the S&P stabilizes after a new zenith of 4,559.6 points .

Lagging since the start of the school year, the Nasdaq has lost 0.4% to 15,148.9 points.

The market – which had gained confidence after a good start to results – struggles to find a clear guiding idea in the more contrasting accounts unveiled in recent days by several heavyweights of the rating.

Consequently, the great New York indices mark a pause this Friday, the time to digest their recent rise and certain publications receive an icy reception.

This is the case of Intel, the world’s number one semiconductor and component of the Dow Jones, which drops by more than 10% in the wake of results and forecasts that have disappointed analysts.

Snap, the owner of the messaging platform Snapchat, also reported mixed results and disappointing prospects, which caused its stock price to plunge by more than 20%.

The only satisfaction at the start of the day, American Express climbs nearly 5% after posting a quarterly profit above expectations, the credit card issuer having benefited from the increase in consumer and SME spending in a context of recovery economy.

On the statistical front, the first results of the monthly IHS Markit survey carried out among purchasing managers in the private sector show an increase in the composite PMI index to 57.3 in a ‘flash’ estimate in October, after 55 for the month of September.

The research bureau notes, however, that prices are increasing at a ‘record’ pace and that private sector growth remains well below that of a year ago.

The deterioration of the fixed income markets continues, with a 10-year T-Bond whose yield is now testing 1.70%, while the barrel of US light crude (WTI) is back on the upward path with an increase of 0 , 2% to 82.7 dollars.

Another element betraying a certain aversion to risk, the ounce of gold wakes up with a gain of 1.2% to 1,805 dollars, a rebound to watch after a year 2021 so far very disappointing.