Wall Street in dispersed order, Microsoft helps the rebound of the S&P


(Reuters) – The New York Stock Exchange ended in mixed order on Wednesday, with the S&P-500 and the Dow Jones rebounding from their previous sharp declines, as strong quarterly results from Microsoft and Visa reassured investors. concerned about the prospect of a global economic slowdown and rising interest rates.

The Dow Jones index gained 0.19% to 33,301.93 points.

The broader S&P-500 gained 0.21% to 4,183.92 points.

The Nasdaq Composite fell by 0.01% to 12,488.93 points.

Microsoft, one of the technological giants whose results were expected this week, rose after saying on Tuesday evening that it expected double-digit growth for its annual financial year.

Visa, for its part, jumped following a turnover forecast above pre-coronavirus health crisis levels.

Against a backdrop of fears that the US Federal Reserve (Fed) will adopt a more aggressive policy than expected to counter the surge in inflation, the main Wall Street indices had marked a sharp decline on Tuesday, the Nasdaq having fallen to a low since December 2020.

Among the main indices of the S&P-500, that of communication services ended in the red (-2.6%), led by the 3.7% decline in Alphabet, parent company of Google and YouTube, the next day. of its post-closing publication of disappointing quarterly results.

“What we’re really seeing is that the rats are being punished a bit more harshly, but the (above-expected results) are also being rewarded,” commented Rob Haworth, senior strategist at US Bank Wealth Management, Seattle.

Noting the level of interest rates and bond yields, he said there was a “big question mark” over growth and market capitalisations.

Meta Platforms, Facebook’s parent company, whose quarterly results were expected after the close, fell 3.3%.

Nearly a third of S&P-500 companies released their results this week. Overall, the season is currently better than expected, with nearly 80% of the 176 companies that published their results exceeded Wall Street expectations.

Boeing plunged 7.5% following the day’s announcement that 777X production would be halted due to certification issues, a pause that came with a further $1.5 billion cost premium .

Down 12% on Tuesday amid concerns that his boss Elon Musk is selling shares to fund his takeover of Twitter, Tesla rebounded 0.6%.

(French version Jean Terzian)

by Bansari Mayur Kamdar and Noel Randewich



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