(CercleFinance.com) – After the start of the session around the balance, the trend increased significantly on Wednesday morning on the New York Stock Exchange following the publication of an ISM services index below expectations.
At the end of the morning, the Dow Jones still manages to post gains of 0.1% to 33,156.2 points, while the Nasdaq Composite fell 1.2% to 12,404.4 points.
Growth in activity in the services sector slowed in April, according to the results of the monthly survey by the Institute for Supply Management (ISM).
The ISM services index fell to 57.1 last month from 58.3 in March, while economists expected a small rise around 58.5.
This indicator has once again fueled investors’ concerns about the health of the US economy, which has shown increasing signs of running out of steam since the start of the year.
Another disappointing statistic, the private non-farm sector in the United States generated only 247,000 jobs in April according to the ADP survey, a number significantly lower than the consensus, after the 479,000 creations in March.
Wall Street had previously opened without much change, market participants opting for caution and a wait-and-see attitude a few hours before the publication of the Federal Reserve’s strategic decisions.
If the proponents of a 50 basis point increase remain in the majority, some operators are raising the possibility of a tightening of the screw which could reach 75 points.
On the values side, the specialists in transport vehicles with driver (VTC) Uber and Lyft drop by 10% and 33% respectively after the publication of their quarterly results, marked by new losses.
AMD rose 1.5% after noting on the occasion of the announcement of its quarterly accounts an increase in its objectives for the year 2022, now anticipating revenues of around 26.3 billion dollars and a gross margin adjusted by around 54%.
Starbucks climbs more than 5% after reporting adjusted EPS down just over 3% in its second quarter of 2021-22, but also announces plans to accelerate store growth plans .
Oil prices also maintained their gains just after the publication of weekly oil inventories, which highlighted a decline in crude reserves.
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