(CercleFinance.com) – The New York Stock Exchange fell further into the red on Wednesday, following the publication of an ISM manufacturing index higher than expected, and therefore not necessarily seeming to move in the direction of future rate cuts .
At the close, the Dow Jones dropped almost 0.8% to 37,430 points, just like the S&P500 to just under 4,705 points, while the Nasdaq Composite dropped almost 1.2% to 14,592 points.
Investors were cooled by the announcement, at the start of the session, of an American ISM manufacturing index rising to 47.4 in December, compared to 46.7 in November, thus reflecting a slowdown in the contraction of the sector. .
This slightly better indicator than expected, which did not reveal major pressures in the manufacturing industry, did not seem, a priori, to support the scenario of a reduction in key rates in two months by the Federal Reserve.
On the value side, Intel lost 1.6% while the processor manufacturer decided to accelerate its development in artificial intelligence (AI) by creating a dedicated subsidiary with the support of the DigitalBridge investment fund.
Walt Disney took 1% after a confidentiality agreement with ValueAct Capital Management that allows the entertainment giant to provide information to this investment company and consult it on strategic matters.
Energy stocks like Chevron (+1.9%) also performed well, against a backdrop of a recovery in oil prices due to tensions in the Bab El-Mandeb Strait, a strategic crossing point for global maritime transport. .
Copyright (c) 2024 CercleFinance.com. All rights reserved.