(CercleFinance.com) – Wall Street is moving in disarray on Thursday at the start of the session, torn between the need to breathe after recent records and good results, whether from Disney or in the semiconductor sector.
At the end of the morning, the Dow Jones fell 0.2% to 38,607.9 points while the Nasdaq Composite advanced 0.3% to 15,808.8 points. Unchanged at 4993.6 points, the S&P 500 is still below the major psychological threshold of 5000 points.
Investors seem to want to catch their breath after a bullish streak which has allowed the S&P to already gain almost 5% since the start of the year.
The trend is also slowed by the publication of encouraging indicators on the labor market which confirm the good health of the American economy and seem to rule out the scenario of future rate cuts.
The Department of Labor reported this morning 218,000 new registrations for unemployment benefits in the United States the week of January 29, a figure down 9,000 compared to the previous week.
Among the good news of the day, Disney climbed 10% the day after the publication of quarterly results above expectations and solid prospects.
‘The group is on track to show an acceleration in its growth in the 2023/2024 financial year’, underline UBS analysts.
Still on the results side, the rise in the Nasdaq benefits from the strong progression of Arm (+60%) the day after the publication of its quarterly results.
The designer of high energy efficiency processors is pulling the entire sector in its wake, with increases of 4% for Marvell or 3% for Broadcom.
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