The major American stock indices ended the last session of last week with timid gains, a positive reading having finally prevailed regarding the latest data published in the morning on the United States economy.
The Dow Jones and the Nasdaq Composite ended Friday’s session with gains of just under 0.1% at 37,466 and 14,524 points respectively, while the S&P500 gained almost 0.2% at just over 4697 points.
The American economy created 216,000 new non-agricultural jobs in December, where Jefferies for example only expected 185,000, but the creations of previous months were revised downwards for a balance of -71,000 in total.
‘Ultimately, the labor market is still quite robust, which reassures us in the idea that the American Federal Reserve will not reduce its interest rates as soon as the market has integrated it,’ we reacted at Commerzbank.
The picture for the American economy, however, darkened during the morning, with the ISM services index coming out at 50.6 for last month, compared to 52.7 in November, and while economists expected in a much less significant decline.
On the stock side, Constellation Brands gained 2.1% after the publication by the alcoholic beverages group of its third quarter financial results, accompanied by an increase in its free cash flow target range for the 2023-24 financial year. .
Costco Wholesale gained 1.2% following the announcement of a 9.9% increase in its December turnover, a point of activity that led Jefferies to raise its target of course on the title of the chain of warehouse stores.
On the other hand, Palantir lost 1.7% after Jefferies downgraded its recommendation to ‘underperform’, with a price target set at $13, due to the boom linked to artificial intelligence which recently brought the value.
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2024-01-08 06:48:07
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