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MARKET REVIEW. The New York Stock Exchange stammered early Friday before a three-day weekend in the United States, but was trending towards gains over the whole week.
The Toronto Stock Exchange retreated early Friday as the US markets traded in dispersed order and the Canadian dollar lost some feathers.
The clues
In Toronto, the S&P/TSX dropped 39 points, or 0.22%, to 18,353 points.
In New York, the S&P 500 was down 4 points, or 0.11%, to 3,911 points.
The Dow Jones decreased by 20 points, or 0.07%, to 31,409 points.
The Nasdaq lost 58 points, or 0.42%, to 13,967 points.
The context
The New York place should however show a weekly progression, benefiting from a start to the week with a bang.
“The American stock market fell back at the start of the session, barely leaving its records as the markets prepare to begin a three-day weekend with the Presidents’ Day party”, indicate experts Charles Schwab.
“The markets have recovered from the speculative fever initiated by small investors two weeks ago and are supported by signs of progress in the vaccination campaign against COVID-19 (in the United States, Editor’s note), the decline in number of new cases in the country and high expectations for further economic support measures, ”they add.
Thursday evening after the close, the market took note of the results of the Walt Disney Company, a prominent member of the Dow Jones.
The entertainment empire has reported impressive growth in subscribers to its streaming services, including Disney +, which now has nearly 95 million subscribers.
The company has suffered from the impact of the pandemic and lockdowns, however, with its net profit during the holiday season falling to $ 17 million from $ 2.1 billion in 2019.
The action of Disney on Wall Street fell 1.86%.
Among the other values of the day, the oil major Chevron lost 0.14% after seeing the rating of its rating downgraded by S&P Global Ratings. The rating agency believes, however, that the financial outlook of the company is “stable”.
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