New York (AFP)
The New York Stock Exchange closed on a mixed note Monday, between concerns about growth and relative optimism about corporate publications.
The Dow Jones fell 0.10% to 35,258.61 points.
The Nasdaq index, very oriented by technology stocks, gained 0.84% to 15,021.81 points, and the extended S&P 500 index took 0.34% to 4,486.46 points, according to final results.
The market had started off on the wrong foot, after the announcement of industrial production falling 1.3% in September in the United States compared to August, when analysts had forecast an increase of 0.2%.
In addition, the August figure has been revised to -0.1% against + 0.4% initially announced.
The indices then dipped briefly into the red, before recovering, with investors preferring to focus on healthy quarterly results rather than on the macroeconomics.
"Financial stocks have started the season well," noted Ross Mayfield, analyst at Baird, referring to the publications of major US banks last week.
According to him, operators feel that companies are "digesting" better than expected disruptions in supply chains, which have been overheating for more than a year.
Therefore, if figures a little better or lower than forecasts will not change the mood of investors, "a big failure would have repercussions on all financial markets", according to Ross Mayfield.
For him, Wall Street has integrated the idea of a deceleration of the American economy and no longer expects surprises on the macroeconomic level.
This is a sign that the central scenario remains that of growth, even less, with a surge in inflation in the background, which contributes to gradually raising interest rates.
The 10-year US government bond rate stood at 1.58% on Monday, after hitting 1.62% earlier today, from 1.56% on Friday.
As for yields at 2 and 5 years, they were still close to their levels before the outbreak of the health crisis.
Among the values in view Monday, the group of department stores Macy's soared (+ 17.51% to 28.25 dollars), taking advantage of press information indicating a possible IPO of the activity of online business of its competitor Saks Fifth Avenue.
According to other press reports, the investment company Jana Partners, which has taken a position in the capital of Macy's, encourages the latter to also split its online activity from the rest of the group.
Other rivals of Saks, Nordstrom (+ 5.48% to 29.62 dollars) and Kohl's (+ 3.47% to 48.02 dollars) took advantage of this momentum.
Badly since the start of the revelations on Instagram and the release of the whistleblower Frances Haugen, Facebook is looking up (+ 3.26% to 335.34 dollars).
After losing more than 15% between early September and early October, the title resumed Monday.
The American social media giant plans to hire 10,000 people within five years in Europe to work on the "metaverse", considered by other web and video game giants as the next big technological leap in the evolution of 'Internet.
Apple benefited (+ 1.18% to 146.55 dollars) from the presentation on Monday of several new products, including a new generation of AirPods that allows the use of Spatial Audio immersive listening technology (the sound seems come from all directions).
The real estate ad site Zillow has unscrewed (-9.45% to 86 dollars), weighed down by the temporary suspension of its program of purchases of real estate, intended to be then resold by the company, a booming activity currently in the USA.
Zillow intends to take the time to reduce its existing inventory.
Its competitor Opendoor (+ 3.12% to 24.16 dollars) took advantage.
The Sinclair media group suffered (-2.94% to 26.39 dollars) from the revelation of a "ransomware" attack to which it was subjected.
If the damage seems to have been contained, the incident still affected the broadcast of advertisements on its local television channels on Monday, according to the company.
On the eve of the start of the listing of the first index fund (ETF) indexed to bitcoin on Wall Street, an event considered major for the popularization of cryptocurrencies, the digital currency exchange platform Coinbase rose 4.54% at $ 293.34.
© 2021 AFP