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Wall Street finishes down after a salvo of results

2019-07-16T21:11:07.095Z

Wall Street finishes down after a salvo of results


New York (AFP)

The New York Stock Exchange ended lower on Tuesday, catching its breath after a mixed salvo of corporate results and comments from the US president on negotiations with China.

Its leading index, the Dow Jones Industrial Average, dropped 0.09% to finish at 27,335.63 points.

The Nasdaq, with strong technological color, lost 0.43% at 8,222.80 points.

The broad S & P 500 index dropped 0.34% to close at 3,004.04 points.

All three had climbed the night before to new levels.

On Tuesday, "the session was mainly guided by two elements, the many business results to digest and President Donald Trump assuring that there was + still a long way to go in the negotiations with China," said Adam Sarhan 50 Park Investments.

"Any information that goes against the swift conclusion of a trade agreement is considered in the short term as a negative factor by the market," he said.

Earlier in the session, the indexes hovered around the balance after the release of quarterly figures from several big names in the rating.

JPMorgan Chase, the world's largest asset-based bank, said it posted a record net profit of $ 9.65 billion in the second quarter, a performance that pushed its stock up 1.07%.

Investment Bank Goldman Sachs, meanwhile, climbed 1.86% after reporting better-than-expected results despite a continued decline in both fees earned by its investment bankers and revenues generated by traders.

Brokers, on the other hand, welcomed the figures from Wells Fargo Bank (-3.02%), Johnson & Johnson Pharmaceuticals and Hygiene Group (-1.64%) and Domino's Pizza (-8). , 66%).

The session was also marked Tuesday by the publication of a series of indicators, including much better than expected retail sales in June (+ 0.4% over one month).

Industrial production in the United States remained unchanged in June (+ 0.0%) compared to May while import prices slipped 0.9% in June.

"The gap between the robustness of consumption and the difficulties of the industrial sector continues to widen and this divergence could remain a delicate subject for investors by the end of the year," commented Ken Berman of Gorilla Trades.

In the bond market, the interest rate on US 10-year debt rose a little, to 2.112% against 2.089% the day before closing.

? 2019 AFP

Source: france24

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