(CercleFinance.com) – Wall Street ends for the 3rd consecutive session without any real trend and on a rather heavy note with the Nasdaq down -0.55% towards 16,177, which is not offset by a gain of 0.2 % of the Dow Jones at 39,065 because the S&P 500 fell -0.1% to 5,170 (and did not set a new intraday record with a ceiling around 5,179).
The Dow Jones was not far from the feat at the start of the session with a peak at 39,200, 0.2% from its absolute record… and it only missed around forty points (0.1 %) to provide a better closure to the story.
The -disappointing- report on inflation stops the upward momentum of the stock markets, without calling it into question or compromising possible records by Friday, in order to end the 1st quarter at the highest (with a gain of +10 .5% for the S&P500, +9.5% for the Nasdaq).
Investor enthusiasm for technology stocks has calmed down a little since Monday while generative AI is at the center of all attention: the main barometer – the SOXX – fell by -2.45% in the wake of profits based on Broadcom -2.6%, Micron -3.4%, AMD -3.9%, Intel -4.4%, Marvell -5.8% (very bad streak with -22% in 4 sessions). .. but Nvidia resists with -1.1% to $909.
“Investments in this area, especially in companies such as Meta and Salesforce, have achieved excellent returns in 2023,” highlights Erling Haugan Kise, fund manager at DNB Asset Management.
The agenda being poor in statistics today, little movement on the bond since the US T-Bond deteriorates by +4Pts towards 4.195%, the ‘2 years’ by +3.5%Pts to 4.635E.
The end of the afternoon was lively in the ‘energy’ sector with a barrel climbing +1.5% towards $79.5 on the NYMEX.
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