(CercleFinance.com) – For the fourth consecutive session, the US indices closed on Friday with narrow scores and the market ended without direction, however leaving the week positive (this is the third in a row) thanks to the upward surge Monday, May 6.
Another missed opportunity for the S&P500 to break a record: it had started the session well (it climbed towards 5,240, 0.25% from its best close of March 28), but it quickly fell back to its levels of the day before before ending with a symbolic gain of approximately +0.15% at nearly 5,223 points.
The Nasdaq Composite (-0.03% to 16,341 points) ended for the fourth consecutive time without direction (no positive or negative difference greater than 0.25%), penalized by Moderna -4.4%, PayPal -2.4 %, Tesla -2%, Amazon -1.1%, Alphabet and Apple -0.8%. Everything also played out on Monday with a gain of +1.2%, the following four sessions ending in stagnation.
The Nasdaq-100, however, broke away from the ‘Composite’ with a gain of around +0.25%, thanks to Charter Com +4.4%, Micron +2.9%, Broadcom +2.1%, Zscaler + 1.6%, Nvidia +1.3%.
The rise in equities may have been thwarted by the decline in ten-year US Treasury bonds: their yield rose by +5.7 basis points to 4.505%, and that of the ‘2-year’ rose by +6 basis points towards 4.865%.
A tension which seems to have had no relation to the American consumer confidence index established by the University of Michigan, which fell by almost -10 points in May, to 67.4, its lowest level in six months, according to preliminary figures (analysts predicted a much less marked decline).
In detail, the current conditions component of the index fell to 68.8 in May from 79 last month, while that of expectations fell to 66.5 from 76 in April.
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