(Photo: 123RF)
–
MARKET REVIEW. The major indices of the New York Stock Exchange had mixed fortunes on Wednesday, the Dow Jones Industrial Average pausing after a start to the week in a rush and the Nasdaq reaching a new record.
The clues
The composite index S&P 500 gained 15 points, or 0.50%, to 3,115 points.
The Dow Jones, the flagship Wall Street index, fell 77 points, or 0.30%, to 25,734 points.
The Nasdaq, highly technological, advanced 95 points, or 0.95%, to 10,154 points.
The oil took US $ 0.41, or 1.04%, to US $ 39.68.
L’or lost US $ 20, or 1.11%, to US $ 1,780.50.
The context
Market players took note at the start of the day of a report by the business services firm ADP according to which 2.4 million private jobs were created in June in the United States.
This figure is lower than expected (+3.75 million) and down compared to the previous month after the upward revision of the data for May (+3.07 million against -2.7 million previously).
In addition, activity in the manufacturing sector in the United States rebounded sharply in June, after plunging due to the pandemic, according to the index of purchasing directors of the ISM association.
On the health front, the American pharmaceutical laboratory Pfizer has published encouraging results from an early phase clinical trial of a coronavirus vaccine.
The title of the group rose by 3.18%.
In the minutes of its last monetary meeting, the Federal Reserve again suggested that the recovery of the US economy would take time.
“This is what has somewhat restricted the market,” notes Peter Cardillo of Spartan Capital Securities, who recalls that the surge in cases of contaminations with coronavirus in many American states is the main reason for concern for investors.
“We are seeing levels that are difficult to justify given the possible economic consequences,” says Chris Low of FHN Financial.
“But it is also complicated to bet against this market,” said the expert.
The day before, Wall Street had completed its best quarter in over two decades.
On the bond market, the 10-year rate on the American debt rose, standing at 0.6742% around 4:20 pm against 0.6561% Tuesday evening.
– .
