Monday , October 3 2022

Wall Street ends in red


Wall Street ends in red

Sat, 20.07.2019

The indices have still begun the right leg session, driven by the robust advancement of the giant Microsoft computing company. (Keystone)

The New York Stock Exchange ended in red Friday at the end of the session with monetary policy issues and fears of tension with Iran even more.

Its leading index, the Dow Jones Industrial Average, lost 0.25% to 27,154.20 points, and Nasdaq, with a strong technological color, 0.74% to 8,146.49 points.

The broad index S & P 500 declined by 0.62% to 2,976.61 points.

However, the indices started the right leg session, driven by the strenuous progress of Microsoft's computer giant whose quarterly results exceeded expectations, and Boeing's aircraft manufacturer, who warned that its quarterly profits would be severely affected by the grounding of its leading aircraft, MAX, but also suggested to rotate by the end of the year.

While Boeing stayed up sharply (+ 4.50%), Microsoft gradually lost its leadership (+ 0.15%).

Investors were particularly chilled by the many speculation about interest rates.

After a speech by John Williams, the president of the New York Federal Reserve, Thursday, market players are largely committed to declining a half-percent drop in July's next July meeting twice a year.

But the New York Fed tried to explain on Friday that Mr Williams' comments are in no way coming from a statement, but comments on twenty years of research.

Tension in the Persian Gulf

The Wall Street Journal then states that the institution's employees are preparing to decline by a quarter percent.

This is enough to confuse brokers who always look favorably at lowering interest rates as they reduce credit costs for households, businesses and investors and thus bring oil to the wheels of the economy.

Investors have also been shaken "by the many rumors about Iran's embarkation on a British oil tanker," according to Margaret Ogg of Tower Bridge Advisions.

What raises the tension after the destruction of an Iranian unmanned airplane over the Strait of Hormuz.

Instead, according to Og, investors have chosen caution. Especially since "the beginning of the season of results was not surprising so far, ie without shine".

"Probably we will not be able to rise to new heights until we see the results of other big names, technologies or the industrial sector," she said.

The New York Stock Exchange climbed to new levels on Monday before losing some land. In the week Dow Jones lost 0.7%, Nasdaq 1.2% and S & P 500 1.2%.

On the bond market, the interest rate on 10-year US debt rose on Friday at 20:45 GMT to 2,053% versus 2,024% on the day before closing.

Among the other results of the day, American Express (AmEx) exceeded expectations in the second quarter due to increased cardholder costs and commission increase, but the company remains cautious, leaving its annual forecasts unchanged. Stocks declined by 2.79%.

BlackRock (-0.40%), the world's largest asset manager, reported lower than expected quarterly results due to lower commissions from customers who prefer to invest in cheap financial products. management. (APM)

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