(CercleFinance.com) – Wall Street ended without direction but the encouraging sign is the resilience of the Dow Jones and the S&P500 which had opened in decline (but without intensity) and which ended up +0.13%.
The Nasdaq fell -0.4% due to the declines of Palo Alto -28.4% (too ‘cautious’ forecasts for 2024) and Zscaler -14.6%, Mongodb -3.4%, Nvidia -2, 9%, Intel -2.4% (despite its intention to overtake Taiwanese TSMC in the high-performance chip segment), AMD -0.9%.
But not all ‘techno’ ended up in the red as demonstrated by Analog Device +2.3%, NXP +1.7%, Microchip +1.3%
Shortly after the close, Rivian fell by -13%: vehicle production turned out to be lower than expected, a modest recovery in profits is expected at the start of 2024.
But of course, the ‘climax’ of this session was the results of Nvidia which published a turnover in line with expectations of $22.1 billion, a record margin of more than 76%.
But this much-awaited publication ended in a ‘non-event’ (the stock stabilizing around $695 after a 1/4 hour roller coaster ride (+3%, compared to -2.9% at closing): operators are waiting for the conference Press to learn more about management’s forecast.
The publication of the FED’s ‘minutes’ had little impact on Wall Street (the FED will be patient before reducing rates, which the market has already integrated) which continued its rise after 8 p.m., despite the deterioration of T-Bonds which tended by +4Pts towards 4.318%, which is close to the annual ceilings.
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