(CercleFinance.com) – The New York Stock Exchange is moving without a clear trend on Friday at the start of a session driven by a series of economic indicators that seem to encourage investors to be cautious.
At the end of the morning, the Dow Jones remained stable at 33,790.2 points, while the Nasdaq Composite advanced 0.4% to 11,126.7 points.
Market participants learned before the opening that by signing a gain of 0.3% in November, producer prices had risen more than expected last month in the United States.
These data reinforce the growing skepticism of investors regarding the ability of the Federal Reserve to quickly curb inflation.
In response to this indicator, the dollar also rose again to return to the 1.0540 zone against the euro.
Shortly after the opening, investors took notice of the University of Michigan’s confidence index, which came out at 59.1 in preliminary version this month, against 56.8 in November, when it was expected. on a steady note.
These elements naturally fuel the ongoing debate on the need for further interest rate hikes by the Federal Reserve, in the face of inflation that is struggling to come down and economic activity that is still doing just as well.
As a result, the yields of US government bonds accentuated their progression, with 10-year Treasuries whose rate now exceeds the 3.55% mark.
Six of the 11 major S&P sector indices are moving in the green, with the most marked increase coming from the telecom compartment (+0.8%), followed by real estate (+0.7%).
In contrast, energy stocks lost 1% despite the rise in crude oil (+0.1% to 72.2 dollars per barrel WTI).
Among the day’s notable declines, Microsoft fell 0.4% as the odds of Activision Blizzard’s proposed acquisition dwindled further last night with opposition to the deal from the Federal Trade Commission ( FTC).
Costco is moving up slightly (+1.5%) following the publication of mixed quarterly results that did not arouse investor enthusiasm.
Netflix climbed 4.8% in the wake of favorable comments from Wells Fargo analysts, who moved to an ‘overweight’ recommendation on the title.
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