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Wall Street: Start of the week on the right foot


(CercleFinance.com) – Wall Street started the week on the right foot, despite falling oil prices and disappointing data from China. The Dow Jones gained just over 0.4% to 33,912 points, while the Nasdaq Composite gained 0.6% to 13,128 points.

Black gold nosedived, the barrel of WTI having thus dropped 3.5% to 88.9 dollars, after the announcement of disappointing economic indicators in China, which suggested a potential deterioration in global demand for oil. hydrocarbons.

“China’s retail sales, investment and industrial production all came in below estimates in July, as the country’s central bank unexpectedly cut key rates,” Wells Fargo said.

Another worrying data, the ‘Empire State’ index of manufacturing activity in the New York area plunged 42 points to settle at -31.3 this month, while economists were certainly expecting it in decline, but still in the positive zone.

In the wake of oil prices, the titles of the majors Chevron (-1.9%) and ExxonMobil (- 1.8%) have clearly lost ground, and even more so those of the oil services groups Schlumberger (-3.7 %) and Halliburton (-3.6%).

Moderna, on the other hand, gained 3.3%, after the UK’s MHRA granted conditional authorization for its Spikevax Bivalent Original/Omicron vaccine as a booster dose to prevent Covid-19 in people aged 18 and over. more.

Snap rose 5.3% after the paid version of its Snapchat+ app hit the milestone of one million paid subscribers less than six weeks after launch. However, the title still shows a drop of nearly 70% since the beginning of the year.

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