New York (AFP)

Wall Street closed without clear direction on Wednesday, after a session marked by a new avalanche of quarterly results, including those of post-it manufacturer 3M who have particularly disappointed.

Its flagship index, the Dow Jones Industrial Average, fell 0.11% to 26,805.53 points.

The Nasdaq, with strong technological color, took 0.81%, to 8,185.80 points.

The broad S & P 500 index rose 0.19% to 3,010.29 points, close to its record reached in late July.

The US company 3M released Thursday results below expectations, suffering a decline in Chinese demand due to the trade war between Beijing and Washington. Its stock, which is among the top thirty stocks in the Dow Jones index, fell 4.07%.

The computer group Microsoft, also a member of the Dow Jones, instead posted a reassuring health report Wednesday, reporting a strong growth in its activities of "cloud" (remote computing services) in the first quarter of its offbeat exercise . Its action rose 1.97%.

"The Dow Jones is composed of 30 stocks, if one or two of its members retreat, it can pull down the index as a whole," observes Art Hogan at National. This is the opposite of the S & P 500, whose evolution depends on a larger number of companies.

"The Dow Jones is also a reflection of large multinationals, who are affected by the Sino-US trade war, the price of raw materials or the health of the industry," adds the expert.

Among other companies to publish their results, Twitter tumbled 20.81%. The social network has reported a profit and a turnover below expectations, citing particular computer problems affecting its advertising business.

The airlines American Airlines (+ 3.96%) and Southwest Airlines (+ 5.73%) progressed after the publication of their results.

Both groups reported waiting for a refund of several hundred million dollars because of the grounding of the 737 MAX, banned from theft since two fatalities.

American Airlines has also promised healthy dividends to its shareholders, ensuring it has completed the necessary modernization of its fleet of aircraft and the integration of US Airways.

In the bond market, the 10-year rate on US debt was up slightly at 20:30 GMT, at 1.766%, against 1.764% the day before closing.

© 2019 AFP