(CercleFinance.com) – Wall Street does not achieve the grand slam this week: no 7th consecutive increase, no 6th closing record in a row for the ‘S&P’ (-0.07%), nor the Nasdaq Composite ( -0.36%)… but still several consolation prizes.
First of all, a week which ends with a clear increase, greater than +1% for these two indices, a new absolute intraday record for the S&P500 at 4,906.7… and this is what saves this last session of the week, a double absolute intraday record (38,214) and closing record (38,109) for the Dow Jones, which symbolically allows us to celebrate on all US news channels the historic zenith of the most famous and oldest American index.
The race for Nasdaq records was stopped on Thursday evening – shortly after the close – by Intel’s plunge (-8% in ‘after hour’, then -11.9% in real conditions this Friday), the group having revealed median sales forecasts 15% lower than consensus.
Intel dragged in its wake sector leaders such as Nvidia (-1%), AMD (-1.7%), Broadcom (-2%), Qualcomm (-2.4%), Microchip (-3.1%) ), Applied Materials (-3.3%)… The Nasdaq remained supported by Airbnb +5.4%, Comcast +2.2%, Netflix +1.7% and Amazon +1%.
The most anticipated figure of the week in the United States did not disappoint: the PCE price inflation index stood at +2.6% at an annual rate in December 2023, a stable rate compared to that of November, and excluding food and energy products, it went from +3.2% to +2.9% from one month to the next.
Another very strong figure: household consumption expenditure increased by 0.7% last month compared to November in the United States, an increase greater than expected, for incomes growing by only 0.3%.
In the bond compartment, the 10-year T-Bond deteriorates (+1 basis point) around 4.142%, while the ‘2-year’ tends by +4 basis points towards 4.355% and ends the week on its worst levels… without prejudice to US equity indices.
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