(CercleFinance.com) – The New York Stock Exchange moved without a clear trend on Tuesday, the series of mixed quarterly results published in the morning not being enough to lift the stock markets to new highs.
At the end of the morning, the Dow Jones fell 0.4% to 37,862.9 points, while the Nasdaq Composite barely gained 0.1% to 15,372.6 points.
The start of the day was marked by numerous lackluster company publications, which tend to discourage risk-taking.
The diversified industrial group 3M particularly penalized the Dow Jones, dropping more than 11% due to prospects considered disappointing for 2024, against a backdrop of slowing demand.
Johnson & Johnson (-2.2%) follows suit after revealing quarterly performances without much fanfare.
Conversely, the publications of Verizon or Procter & Gamble are welcomed by investors, who carry the two stocks up by 5.5% and 4.7% respectively in the first exchanges.
After the recent series of records set on Wall Street, these contrasting performances serve as an excuse to sell and weigh on market sentiment, which has until now been based on the dynamism of AI-related stocks.
The American bond market is benefiting from the decline in risk appetite, with the yield on ten-year Treasuries rising to almost 4.15%.
On the foreign exchange market, the dollar is rising again against the euro two days before the highly anticipated announcements from the European Central Bank (ECB), the single currency falling back into the 1.0840 zone against the greenback.
Crude prices are consolidating after their surge the day before, with geopolitical tensions in the Red Sea not completely eclipsing the risks of a deterioration in global demand.
American light crude (West Texas Intermediate, WTI) is currently falling 0.3% to $74.5.
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