(CercleFinance.com) – Wall Street began the week on a somewhat heavy note but the differences remained completely frozen almost from start to finish: the US indices are catching their breath after Friday’s records and an 18th week of increases.
These losses remain marginal with the S&P500 -0.15%, the Dow Jones -0.25%, the Nasdaq -0.4%… and the decline was largely slowed down once again by the semiconductor sector : the SOXX (+1%) smashes a new absolute record at $694 (and $687 at closing) and the ‘Vaneck Semi.C’ gained +1.6% in the wake of Intel +4.1%, Marvell and Qualcomm +2.2%, AMD +1.3%… and inevitably Nvidia +3.6% (new absolute record at $852) with $45 billion exchanged.
The Nasdaq-100 was weighed down by Apple -2.5%, Alphabet -2.8%, and especially Tesla (-7.2%) or Workday (-6.5%).
The energy sector weighed down the S&P500 with Enphase Energy -4.4%, Diamondback -3.4%, Chevron -2.6%, Conoco -2%.
The star sector of the day was that of financial stocks with Morgan Stanley +4.1%, PNC +4%, Fifth Third +3.2%, Keycorp +2.8%, FMC +2.6%, Bank of America + 2.3%, Goldman +1.1% (Wall Street puts aside its concerns about regional banks).
The cautious attitude of American operators can be explained 48 hours after a speech by Jerome Powell and 4 days of employment figures in the United States (NFP Friday): the consensus expects an average of 200,000 job creations in February after the fireworks of January, which resulted in 353,000 new positions, double market forecasts
The yield on T-Bonds increased by +3 points towards 4.216%: the nervousness of the US rate markets has been palpable since the end of 2023: the ‘pivot’ began on December 27 and yields have recovered on average more than 50 Points in 9 weeks, all maturities combined.
Copyright (c) 2024 CercleFinance.com. All rights reserved.