(CercleFinance.com) – After opening in the green, Wall Street is moving on a more mixed note on Wednesday at midday, in a market looking for new elements of impetus after last week’s records.
Around 12:00 p.m. (New York time), the Dow Jones rose by 0.6% to 39,501 points, helped by the strong rise in Merck, but the Nasdaq Composite fell by another 0.1% to 16,295.8 points.
Since the start of the week, the American stock markets have been moving without much direction, even if the Dow and the S&P today managed to end a series of three declines in a row.
If the American markets set new records last week, the trend has since slowed down against a backdrop of growing questions about the valuation levels, considered high, of stocks.
‘Trading has been especially limited since Monday in view of the publication of what promises to be the highlight of the week, the PCE price index which will appear on Friday,’ explains a trader.
Investors seem to be waiting for new signs pointing towards a deceleration of inflation in order to continue the upward movement underway since the fall.
On the value side, Merck reached new historic highs and largely supported the progression of the Dow with a gain of almost 4% following the green light from the American FDA for the prescription of its Winrevair in the treatment of pulmonary arterial hypertension.
The session was also marked by profit-taking on Nvidia, which fell 3% as the end of the first quarter approached, which allowed it to jump 93% so far.
Netflix, which has climbed 29% this year, is also experiencing some sell-offs as Wedbush analysts have decided to remove the stock from their list of best investment ideas.
On the NYMEX, oil prices are losing ground following the announcement of a slight weekly increase in crude oil stocks. The May contract on WTI dropped 0.2% to less than 81.5 dollars.
On the bond market, the yield on ten-year Treasury bills fell below the threshold of 4.20% and moved further away from the nearly four-month peak recorded above 4.34% during the week. last.
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