(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 both ended up +0.13 %, at 38612 and almost 4982 respectively.
The Nasdaq-100 fell by -0.4% due to the declines of Palo Alto -28.4% (too ‘cautious’ forecasts for 2024) and Zscaler -14.6%, Nvidia -2.9%, Intel – 2.4% (despite its intention to overtake the Taiwanese group TSMC in the high-performance chip segment). But not all ‘techno’ ended up in the red, as demonstrated by Analog Devices +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 and a record margin of more than 76%.
But this much-awaited publication ended in a ‘non-event’, with the stock stabilizing around $695 (+3% in the ‘after hour’, compared to -2.9% at the close).
The publication of the Fed’s ‘minutes’ had little impact on Wall Street (it will be patient before reducing rates, which the market has already integrated) which continued its rise after 8:00 p.m., despite the deterioration of T-Bonds which tended by +4 basis points towards 4.318%, a level close to the annual ceilings.
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