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Wall Street hesitates after solid indicators

2019-11-27T15:23:00.724Z

Wall Street hesitates after solid indicators



New York (AFP)

The New York Stock Exchange moved in a scattered order shortly after the opening on Wednesday, in the wake of a series of indicators of good performance on the US economy and a market with limited exchanges on the eve of Thanksgiving.

Its flagship index, the Dow Jones Industrial Average, declined at 14:45 GMT by 0.02%, to 28,123.00 points, after starting slightly higher.

The Nasdaq, with strong technological color, was up 0.14% at 8,415.25 points, and the expanded S & P 500 index by 0.06% at 3,145.75 points.

The three major indices of the New York Stock Exchange rose quietly to new levels on Tuesday, supported in particular by the rise of a few groups in the distribution: the Dow Jones had gained 0.20% and the Nasdaq 0.18%.

On Wednesday, growth in the US economy in the third quarter was revised upwards to 2.1% year-on-year, according to a new government estimate.

Consumption, the traditional locomotive of growth, accounting for 70% of the US Gross Domestic Product (GDP), remained particularly strong (+ 2.9%).

Orders for durable goods in the United States, for their part, rebounded slightly in October, contrary to analysts' expectations.

This series of statistics "is better than expected", observed Christopher Low, FTN Financial. "But it's less a sign of solidity than the confirmation that the economy is stalling," he added.

"GDP growth has been boosted by stockbuilding in anticipation of a strike (at General Motors, Ed), while durable goods orders have increased enough to indicate that demand, at best, is stabilizing without falling. more, "he explained.

"All in all, this is certainly not bad news, but there is no excitement either."

The US central bank will publish during the session its periodic report on the health of the country's economy, the Beige Book.

Weighing on the Dow Jones, of which he is the most influential member, Boeing was down 1.36%. Sources close to the case told AFP that larger anomalies than expected affect the 777X and could delay further the arrival of this long-haul in the global sky, a new blow for the group already stuck in the crisis 737 MAX.

In the bond market, the 10-year US debt rate was 1.764%, against 1.741% at the close on Tuesday.

© 2019 AFP

Source: france24

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