NEW YORK (Reuters) – The New York Stock Exchange ended in disarray on Wednesday, with investors taking their gains on big tech stocks ahead of two major dates next week: monthly U.S. inflation figures and the Federal Reserve (Fed) monetary policy.
The Dow Jones Industrial Average gained 0.27%, or 91.74 points, to 33,665.02 points.
The broader S&P-500 fell 16.33 points, or 0.38%, to 4,267.52 points.
The Nasdaq Composite fell for its part by 171.52 points (-1.29%) to 13,104.90 points.
The US markets have somewhat caught their breath after having recently benefited from the hope of a status quo on the rates of the Fed, which has not stopped raising them since March 2022 in the face of galloping inflation.
The Fedwatch tool shows a 78% probability that the US central bank will not touch the “fed funds” rate target in June. However, the scenario of a quarter-point hike in July is estimated at 54%.
Technology stocks that had particularly benefited from the rally of the past few weeks were heckled on Wednesday amid profit-taking on the largest market caps on the Nasdaq.
Meta Platforms (-2.77%), parent company of Facebook, was further affected by an article in the Wall Street Journal according to which child pornography would be posted on Instagram.
Netflix, which was up more than 4% at the open, ended almost even (+0.12%) after Wells Fargo raised its price target from $400 to $500, the highest level on Wall Street. , according to Refinitiv.
(Written by David Carnevali and Shubham Batra, French version Tangi Salaün)
Copyright © 2023 Thomson Reuters