(CercleFinance.com) – For the 4th consecutive session, the US indices closed with narrow scores and the market ended without direction.
However, the week remains positive (this is the 3rd in a row) thanks to the upward surge on 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 on March 28) but it quickly fell back to its levels of the day before to end with a symbolic gain of +0.15%.
The Nasdaq (-0.03%) ends for the 4th consecutive time without direction (no positive or negative difference greater than 0.25%): the index was penalized by the declines of Moderna -4.4%, Paypal – 2.4%, Tesla -2%, Amazon -1.1%, Alphabet and Apple and -0.8%.
Everything was also decided on Monday with a gain of +1.2%… the following 4 sessions ended in complete stagnation.
The Nasdaq-100 stands out from the ‘Composite’ with a gain of +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 points to 4.505% and that of the ‘2-year’ rose by +6 points towards 4.865%.
A tension which seems to have no connection with the American consumer confidence index established by the University of Michigan.
American household morale fell by almost -10 points in May, to 67.4: this is its lowest level in six months, according to preliminary figures from the University of Michigan survey revealed this Friday (analysts predicted a much less marked decline, around 76.2).
In detail, the component of current conditions fell to 68.8 against 79 last month, while that of expectations stood at 66.5 after 76 in April.
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