New York (AFP)

Wall Street retreated Tuesday at the start of the session, pulled down by the decline in McDonald's, which published its quarterly results, and following the US parliamentary debate on the new stimulus plan.

Around 2:00 p.m. GMT, its flagship index, the Dow Jones, fell 0.68% to 26,404.75 points.

The Nasdaq, with strong technological coloring, lost 0.67% to 10,465.91 points and the extended S&P 500 index fell 0.45% to 3,224.75 points.

The New York market ended up on Monday, carried by the technological giants Google, Amazon, Facebook and Apple, and closely following the negotiations on a new stimulus plan in the United States: the Dow Jones rose by 0.43 % and the Nasdaq by 1.67%.

Market players were digesting new quarterly results from large listed companies.

McDonald's lost 2.34%. The fast food giant, a member of the Dow Jones, saw its net profit drop 68% in the second quarter and did not give a forecast for the year as its business was significantly reduced by the pandemic around the world .

Pfizer, which is also part of the Dow Jones, rose 1.52%. The American pharmaceutical company, which is working on a vaccine against Covid-19, slightly raised its results forecasts for 2020 despite a turnover weighted in the second quarter by the drop in prescriptions of some of its drugs and vaccines.

In addition, negotiations on new federal measures to help the economy were well underway in Congress between Democrats and Republicans.

The latter presented a plan on Monday for a total amount of around $ 1,000 billion and are due to start formal discussions with the Democrats on Tuesday.

The plan includes a new check for households, additional loans for the small and medium-sized businesses most affected, and funds to allow schools to reopen.

Republicans would also like the weekly subsidy the government has been paying the unemployed since the start of the crisis to be reduced to $ 200, down from $ 600 since April. But the Democratic leaders in the House of Representatives and the Senate oppose it to an end.

"In other words, they are not on the same wavelength. This should guarantee a week full of political drama," summarizes Patriclk O'Hare of Briefing.com.

Among the many events that should punctuate the coming days, the market will closely follow the Federal Reserve's monetary policy meeting due to end on Wednesday, the hearing of the bosses of US tech giants before a parliamentary committee on Wednesday, the first estimate of US GDP in the second quarter on Thursday as well as a new salvo of results (Apple, Facebook, Alphabet and Amazon among others).

On the bond market, the 10-year rate on US debt fell to 0.5872% from 0.6151% Monday night.

© 2020 AFP