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Wall Street without direction, reacting to Amazon's results

2019-10-25T14:28:38.472Z

Wall Street without direction, reacting to Amazon's results



New York (AFP)

Wall Street was moving in a disorganized way on Friday shortly after the opening, digesting the disappointing results of Amazon in the third quarter, released the day before the close, and those of other companies listed on the New York Square.

Its flagship index, the Dow Jones Industrial Average, rose 0.25% to 26,871.21 points around 14:00 GMT.

Nasdaq, with strong technological color, yielded 0.08%, at 8,179.52 points, and the S & P 500 index widened by 0.01%, to 3,010.07 points.

The New York Stock Exchange closed without direction on Wednesday, after a session marked by an avalanche of quarterly results: the Dow Jones had yielded 0.11% while the Nasdaq had appreciated 0.81%.

The California giant Amazon saw its third quarter weighed down by the exorbitant cost of its delivery service in 24 hours, which has sharply reduced its net profit. The group of Jeff Bezos also lowered its financial objectives in the last quarter of 2019 and saw his action losing 4.17%.

Among the other companies to report their results, the US biotech Gilead Sciences on Thursday charged a heavy quarterly loss because of a charge related to a strategic partnership with a specialist in rheumatoid arthritis and Crohn's disease among men. Its title fell by 3.67%.

Verizon was grappling 0.08% after Friday announced more than half a million new mobile subscribers.

Intel climbed 6.56% with earnings and revenue higher than analysts expected in the third quarter.

Visa, which also did better than expected, rose by 1.00%.

Nearly 40% of S & P 500 companies have already submitted their quarterly health newsletter.

Patrick O'Hare of Briefing, the market has benefited this week "better than expected results or less worse than expected to move two steps."

"At the same time, he pulled back a pace and a half because of disappointing results and stalled because of outstanding issues such as Brexit and Sino-US trade relations," added the expert.

Next week, the New York rating should be punctuated by a monetary policy meeting of the Federal Reserve and the monthly report on employment in the United States.

In the bond market, the 10-year rate on US debt was up slightly to 1.768% from 1.766% the day before closing.

© 2019 AFP

Source: france24

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