Monday , January 25 2021

Wall Street falls into the fence sealed by Caterpillar and Nvidia

First post:

New York (AFP)

Wall Street ended sharply down on Monday, weakened by the fall in shares of Caterpillar and Nvidia after declaring financial performance below expectations in the context of a slowdown in China's economy.

According to the closing closing results, the leading Wall Street Index, Dow Jones Industrial Average, lost 0.84% ​​to 24 528.22 points.

Nasdaq, with a strong technology, fell 1.11% to 7,085.68 points.

The broad index S & P 500 declined 0.78% to 2643.85 points.

Honorable member of the Dow Jones index and barometer of the state of the world economy, Caterpillar was severely punished on Monday, losing 9.13 percent after it expected stagnation on the Chinese market this year, a country that represents 10% to 15% of sales of construction equipment.

The Nvidia semiconductor group collapsed 13.82% after declining its quarterly turnover forecast due to the slowdown in the economy.

"Caterpillar's and Nvidia's communications were not expected, and this obviously gives a negative tone to this busy start of the week in corporate results," said Bill Lynch of Hinsdale Associates.

In the coming days, many scores of rating giants are expected, including technology groups very sensitive to the state of the world economy.

Apple will open the ball on Tuesday in a full stock market crash and iPhone sales, followed by Facebook on Wednesday and its scandal procession and Microsoft. Amazon will follow Thursday, and Google's parent company, Alphabet, will close on February 4th early next week.

Outside the technology sector, Boeing, Pfizer, General Electric and Chevron also have to publish their quarterly bills this week.

Comments on the Chinese economy will be scrutinized as the health of the second largest economy in the world is one of the main concerns of investors as the trade war continues with the United States.

Realtors were unconvinced on Monday of a meeting this week between President Donald Trump and Chinese Chief Negotiator Liu He, who has visited Washington for new business deals, according to Mnuchin, the secretary of the ministry.

On the bond market, the interest rate on 10-year debt fell to 2.748% around 21H30 GMT, compared with 2.759% on Friday closing and 30-year growth to 3.068%, compared to 3.066% at the end of last week,

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