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According to final results, the Dow Jones index lost 0.76% to 35,100.00 points and the S&P 500 lost 0.34% to 4,520.03 points. The NASDAQ gleaned 0.07%, allowing it to register a new record of 15,374.33 points.
“We are starting a new shortened week” after the Labor Day holiday Monday, “and a new month that is historically bumpy,” said Art Hogan of National Securities.
Investors were also digesting the disappointing US employment figures for August, released on Friday.
“There may have been a follow-up to the concern over the weakness of the jobs report on Friday,” CFRA’s Sam Stovall also noted.
The job market slowed down sharply in August in the United States, with the Delta variant slowing job creation sharply. The economy created just 235,000 jobs last month, three times fewer than expected even though the unemployment rate fell 0.2 percentage point to 5.2%.
Adding to the cautious mood of investors, Goldman Sachs analysts have downgraded their forecast for US GDP growth in 2021 to 5.7% against 6.2% for the consensus of economists.
The downturn in the Dow Jones, far from being general however, was mainly centered around the fall of a few heavyweights in the index such as the pharmaceutical group Amgen (-2.22% to 221.34 dollars), 3 m (- 4.53% to 185.58 dollars), Honeywell (-2.38% to 222.93 dollars) and especially Boeing (-1.78% to 214.28 dollars).
The low-cost Irish company Ryanair announced on Sunday that it would cease negotiations with the aircraft manufacturer for the 737 MAX order due to pricing issues.
Eight of the eleven sectors of the S&P were in negative territory. In the green, there were growth sectors, such as communication services or information technology, allowing the NASDAQ to seize its 35e record of the year.
Thus, Tesla gained 2.64% to 752.92 dollars and Netflix jumped 2.74% to 606.71 dollars.
Apple, which plans to launch its new iPhone model on September 14, advanced 1.55% to $ 156.69.
The American graphics card maker Nvidia dropped 0.79% to 226.62 dollars, while, according to the Financial Times, the European Commission would not welcome its takeover of the British microprocessor specialist Arm.
State Street bank fell 3.72% to $ 89.43 after announcing it had bought the investment arm of Brown Brothers Harriman bank for $ 3.5 billion.
Yields on 10-year Treasuries climbed to 1.37% from 1.32% at the previous close, as the US Treasury expects new bond issues this week.
Toronto’s S & P / TSX Composite Index, meanwhile, fell 14.80 points to end the day with 20,806.63 points.
In New York, the Dow Jones Industrials Average retreated 269.09 points to 35,100.00 points, while the broader S&P 500 Index fell 15.40 points to 4,520.03 points. The NASDAQ composite index, for its part, lost 10.81 points to 15,374.33 points.
In the currency market, the Canadian dollar traded at an average rate of 79.23 cents US, down from 79.88 cents US on Friday.
On the New York Commodities Exchange, the price of crude oil fell 94 cents to US $ 68.35 per barrel, while that of natural gas retreated 14 cents to US $ 4.57 per million. BTU.
The price of gold fell US $ 35.20 to US $ 1,798.50 an ounce and that of copper returned 5 cents to US $ 4.28 per pound.
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