(CercleFinance.com) – The game was decided in the first half hour: Wall-Street quickly gained altitude but the scores froze just as quickly, until the close.
The 3 main US indices have achieved a 7th consecutive increase (and an 8th for the Nasdaq which gained 0.9%): the Nasdaq went from 12,600 to 13,640 points, or +8.3% in a straight line since October 26.
The ‘composite’ recorded its best close since October 11 (13,659), the same for the S&P500 which validated its most prolific bullish series since January 15 (with +260Pts against +280Pts 10 months ago).
And the S&P or Nasdaq can always count on the ‘fantastic 7’ (with Apple +1.5%, Amazon +2.1% then Tesla +1.3%) then the ‘tech’ giants like Zscaler +4 .9%, Adobe +3.5%, Intuit +2.7%, Airbnb +2.5%, Intel and Palo-Alto +2.2%, Broadcom +1.9%.
The ‘fact of the day’ is probably the – quite unexpected – free fall of -4.6% in oil in London and New York (heaviest decline since October 4): the ‘WTI’ drops to around $77.2 , which causes clearances on Halliburton -4%, Chesapeake and Baker Hugues -3.1%, Devon -3%, Conoco -2.7%, Marathon and Occidental Petroleum -2.5%.
The sharp decline in barrel prices certainly contributed to the improvement in US T-Bonds which fell by -9 points towards 4.5700%.
Few figures on the agenda this Tuesday: the United States trade deficit widened to -$61.5 billion in September (compared to $58.7 billion in August, revised from an initial estimate of 58.3 billion), according to the Department of Commerce.
This 4.9% widening of the deficit from one month to the next reflects a 2.7% increase in imports of goods and services by the United States, to $322.7%, therefore surpassing an increase of 2.2% of their exports, at $261.1 billion.
Copyright (c) 2023 CercleFinance.com. All rights reserved.