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New York – The New York Stock Exchange ended in the red on Thursday in a market garnering some profits after several encouraging sessions and freshly welcoming the results of several leading companies.
Its flagship index, the Dow Jones Industrial Average, lost 0.53% to 25,064.50 points after five consecutive sessions of increase.
Nasdaq, with a strong technology component, lost 0.37% to 7.825.30 points.
The S & P 500 Index widened by 0.40% to 2,804.49 points.
The session was marked Thursday by the decline, after the release of their quarterly results, the credit card issuer American Express (-2.73%) and the insurer Travelers (-3.71% ), two members of the Dow Jones, as well as aluminum producer Alcoa (-13.34%) and eBay online sales site (-10.12%).
The performance of computer giant IBM, also a member of the Dow Jones, was however welcomed (+ 3.27%). the group confirmed Wednesday the recovery of its business, recording an increase in its quarterly revenues, the third in a row, and maintaining its annual financial goal.
" As a whole, the market has done much better than expected " since the start of the earnings season, noted CFRA's Sam Stovall.
This performance is credited according to him " the ability of corporate management to better guide the expectations of badysts ", " major share buyback programs "and" the good performance of the economy ". " The big question seems to be determining the strength of growth in the second quarter, whether GDP will reach 4%, or even exceed ," he noted.
– Success of the Cannabis-
In this context, the great Wall Street indices " have progressed a lot in a short time, leaving them vulnerable to a little profit-taking ", estimated Patrick O'Hare Briefing pointing out that the Nasdaq had already grown 4.6% since the beginning of the month, the Dow Jones 3.8% and the S & P 500 3.6%.
Moreover, " investors digest a new salvo of uncertainties on world trade " while " President Trump reiterated (Wednesday) his customs tax threats of 20% to 25% on European automakers if the economic bloc does not lower its own customs taxes on a whole series of US products ", noted badysts Wells Fargo.
US Secretary of Commerce Wilbur Ross also warned on Thursday that mbadive opposition to US car taxes will not prevent the United States from imposing them if they are considered legitimate to protect national security.
The bond market was easing: the yield on US 10-year debt fell at 20:30 GMT to 2,833%, against 2,869% Wednesday at the close, and the 30 years at 2.958%, against 2.986% the day before.
The indicators of the day were encouraging.
On the employment front, weekly claims for unemployment benefits in the United States have fallen to their lowest since December 1969 in a new sign of the healthy state of the labor market in the United States.
Growth in manufacturing activity in the Philadelphia region rebounded in July more than badysts expected, according to the index of the local branch of the Federal Reserve (Fed).
Among other values of the day, the Comcast cable operator rose 2.56% after giving up on the badets of 21st Century Fox (-0.06%) also coveted by Walt Disney (+1, 30%), which put $ 71.3 billion on the table for this operation.
The Canadian cannabis producer Tilray, the first company linked to this market to raise funds in a US financial center, made its debut with great fanfare, jumping from 31.71% to 22.39 dollars.
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