(CercleFinance.com) – Wall Street begins a timid rebound this Wednesday after having signed particularly poor scores the day before, for its first session of the year 2023.
At the end of the morning, the Dow Jones advanced 0.3% to 33,224.6 points, while the Nasdaq Composite rose 0.5% to 10,440.8 points.
US equity markets are struggling to take off after the publication of an activity indicator in the manufacturing sector which does not motivate buyers.
After nearly two and a half years of uninterrupted growth, US manufacturing contracted for the second consecutive month in December, according to an ISM survey.
Its index which measures activity in the manufacturing sector thus stood at 48.4 last month, against 49 in November, below the 50 point mark indicating a contraction in the sector.
This is the lowest since 2020, the date of the confinements which followed the appearance of the Covid-19 epidemic in the United States.
But a slowdown in economic activity is also the promise of a less restrictive monetary policy, a prospect likely to reassure investors.
At the sector level, the recovery of the New York indices is mainly driven by stocks linked to real estate (+2.1%), finance (+1.6%) and raw materials (+1.2%). ).
On the Dow, Salesforce rose 2.8% following the announcement of a restructuring plan to result in the elimination of 10% of its workforce, the enterprise software publisher in ‘cloud’ mode having too hired following the pandemic.
Apple rebounded 1.9%, allowing it to go back above the symbolic bar of 2,000 billion in market capitalization that it had sunk the day before.
Pfizer dropped 1.7% after being downgraded to ‘neutral’ by BofA analysts, who said they were worried about the medium-term growth trajectory of the American pharmaceutical group.
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