(CercleFinance.com) – Wall Street limited its decline: initial losses were halved and buyers quickly remobilized, which is quite typical for a first session of a new stock market term (month of March, quarterly expiry ), after a 3-day bridge in the United States.
The Dow Jones fell 0.17% to 38,564, the S&P-500 fell 0.60% to 4,975 (compared to -1% at mid-session), the Nasdaq lost 0.9% to 15,630 (compared to -1.4% at the lowest), the Nasdaq-100 -0.8% at 17,546 (compared to 17,399 at the lowest, or -1.65%… but the index has not closed the ‘gap’ opened under 17.663).
The semiconductor sector which weighed down the Nasdaq also finished at the bottom of the S&P500 but it limited the damage thanks to Intel +2.3% and Microchip +1%, which somewhat offsets the declines in AMD -4.7% , Nvidia -4.4%, Super Micro Computer -2%.
Shortly after the close, in the ‘after hour’, Palo-Alto fell -20% towards $293, Zscaler and Crowstrike dropped between -7 and -8%.
All eyes will be on Wednesday evening towards Nvidia which briefly occupied the 3rd step of the podium of the largest US capitalizations and which has also dethroned Tesla in terms of volumes of securities traded daily ($33 billion/day compared to $32 billion): this represents – for these 2 securities – 20 to 25 times the daily volume traded on CAC40 values.
‘Only’ $20 billion is traded on Apple every day, and barely $10 billion on Microsoft.
But $50 billion was traded on Nvidia this Tuesday, almost the equivalent of what was traded on the CAC40 from January 19 to February 16 (during the entire February stock market term)!
In terms of US figures, the Conference Board’s leading indicators index fell by -0.4% (22nd consecutive month of decline) but it is ‘less worse’ than expected (6 sectors out of 11 progressed in February) .
As a result, the Conference Board says it no longer expects a recession in the United States this year, but warns that it anticipates a slowdown in growth to levels close to zero in the second and third quarters.
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