WALL STREET ENDS ON A NOTE IRREGULAR
by Chuck Mikolajczak
NEW YORK (Reuters) – Wall Street ended on a note of irregular Thursday, the Dow Jones is taking advantage of the good performance of banking stocks and energy to register a closing record, while the S&P-500 and especially the Nasdaq have suffered from the decline in technology stocks.
The Dow has gained 68,35 points, or 0.36%, to 19.191,93 points, enough to sign a closing record, but without reaching its absolute peak of 19.225 registered the day before.
The Standard & Poor’s 500, wider, lost 7,73 points or 0.35% to 2.191,08 and the Nasdaq Composite dropped 72,57 points (1,36%) 5.251,11.
the oil market, the price of Brent has still gained 4% after a jump of nearly 9%, still covered by the announcement of an agreement on a reduction of the production of the Opec which will involve Russia, the world’s largest producer of crude oil. nL8N1DW5ZD]
Chevron, which is a component of the Dow Jones industrial average gained 1.55% and the S&P 500 energy has advanced 0.27%.
The financial have also been researched in the prospect of a rate hike from the federal Reserve next month, for the first time in a year — a possibility that traders are now 91% and that has been supported by the economic indicators of the day.
Goldman Sachs in particular has made 3,35%, contributing 50 points to the rise in the Dow Jones and bringing its advance to more than 24% since the victory of Donald Trump in the presidential election of 8 November.
The S&P sector has gained to 1.66%, its best session in three weeks, for a total gain of 12.3% since the 8th of November.
conversely, the technology sector the worst performer since the election of Trump, with a decline of 3%, have again been lagging behind and to their sector index S&P has lost 2,29%, its biggest decline since June 24, the day after the british referendum on the Brexit.
Facebook was down 2.80 per cent and Alphabet 1,49%, while Canaccord Genuity reduced its target price for the two values.
Microsoft has dropped 1.76% and Apple of 0.93%, affected by information suggesting a deceleration of the demand for the new iPhone 7.
“We continue to attend rotations outside of stocks that had performed well in the last few years,” says Michael Scanlon, general manager of Manulife Asset Management.
The manufacturers of chips have been specifically attacked and their index Soxx stock Exchange of Philadelphia, an increase of 64% over the past 14 months, has fallen to 4,85%.
FORD AND GM with a VIEW
The values of community services and real estate, affected by the increase in long-term interest rates have also suffered with decreases of 0.90% and 1.56% of their sector indices.
Among the individual values, Ford and General Motors have won respectively 3,93% and 5.50% after the announcement of increased sales in November.
the downside, the distributor, Dollar General has released 4,97%, one of the largest losses on the S&P-500, after the announcement of a settlement unexpected of its quarterly sales.
After the rotation sector that followed the election of Donald Trump, the economic indicators back on the front of the stage less than two weeks of the next Fed meeting.
The manufacturing sector recorded in November its strongest growth in five months thanks to an acceleration in orders and production, according to the latest survey of the institute ISM.
jobless claims rose more than expected last week, but without calling into question the trend to the strengthening of the labour market, that is expected to confirm on Friday, the monthly report of the government on job creation.
economists polled by Reuters expect on average 175.000 new jobs in November after the 161.000 announced for October, with an unemployment rate stable at 4.9%.
volumes have remained high with 9,13 billion of securities that have changed hands on the different markets in the u.s., compared to a mean of 7,96 billion over the last 20 sessions.
(with Yashaswini Swamynathan in Bangalore, Véronique Tison for the French service)
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