(CercleFinance.com) – Well oriented at the start of the session, the American equity indices tipped into the red in the second half to end with moderate declines: the Dow Jones fell 0.3% to 30,334 points, while the Nasdaq Composite lost 0.6% to 10,615 points.
Investors were concerned by the continued surge in US Treasury yields, with the 10-year rate thus gaining another 10 basis points to 4.23%, while the two-year rate increased by six basis points to 4.61%.
‘Philadelphia Fed President Patrick Harker echoed the remarks of his colleague from Minneapolis, Neel Kashkari, saying that more interest rate hikes were needed to curb inflation. at Wells Fargo.
These reinforced prospects for monetary tightening came on top of rather lackluster macroeconomic data of the day, such as the Conference Board’s index of leading indicators, which fell 0.4% last month.
“This new decline, which confirms the downward trajectory of recent months, suggests that a recession is increasingly likely by the end of the year,” commented Ataman Ozyildirim, director of economic research at the Conference Board.
Separately, sales of existing homes fell 1.5% in September, jobless claims fell by 12,000 last week to 214,000, and the Philadelphia Fed index edged up tentatively to – 8.7 this month.
In securities news, Tesla’s results were largely penalized (-6.6%), as the electric car maker’s third quarter was ‘a little light on automotive revenue and gross margin’, d ‘after Jefferies.
Still among the publications of the session, investors nevertheless welcomed the quarterly results unveiled by the telecom operator AT&T (+7.7%) and the IT group IBM (+4.7%).
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