(CercleFinance.com) – The New York Stock Exchange is moving without real direction on Friday after opening the session in positive territory, a sign that investors are not yet ready to make a real rebound.
At the end of the morning, the Dow Jones fell 0.4% to 29,803.1 points, while the Nasdaq Composite won more than 0.5% to 10,704.2 points.
The New York indices had briefly welcomed, at the start of the session, the easing movement operated on the bond compartment after a turbulent week for rates as for equities.
But the attempt to rebound fizzled, the main concern of investors, namely that of an imminent entry into recession of the economy, remaining indeed intact.
In this regard, the index of leading indicators fell again in May, confirming the scenario of a slowdown in the American economy.
This barometer, calculated by the Conference Board employers’ organization, thus fell by 0.4% last month after having already fallen by 0.4% in April.
Over the week as a whole, the Dow is currently losing 5.3%, a poor performance which brings it back below the 30,000 point threshold, a first since January 2021, while the S&P 500 has lost 5.9% and the Nasdaq 5.5%.
Many investors also prefer to adopt cautious positions before leaving for the long weekend, the American markets having to remain closed Monday for ‘Juneteenth’, the day of commemoration of the end of slavery.
To make matters worse, this third Friday of June constitutes a ‘day of the four witches’, with the simultaneous expiration of a whole series of options and futures contracts on indices and equities, a deadline traditionally generating volatility.
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