PARIS, Nov. 24 (Reuters) – The New York Stock Exchange opened lower on Wednesday after the release of preliminary figures for US economic growth in the third quarter, which came out below expectations.
In the first exchanges, the Dow Jones index lost 218.42 points, or 0.61%, to 35,595.38 points and the Standard & Poor’s 500, larger, fell 0.51% to 4,666.55 points.
The Nasdaq Composite lost 0.73%, or 114.94 points, to 15,660.19.
The Commerce Department announced an hour before the opening of Wall Street that the gross domestic product (GDP) of the United States had increased by only 2.1% at an annualized rate in July-September as the market forecast growth by 2.2%.
The so-called “implicit deflator” price index for GDP also rose at a rate of 5.9%, against a consensus of 5.7%, a sign of accelerating inflation.
Futures contracts have deepened their decline after the release of these figures.
Another statistic, this time more favorable, jobless claims fell in the United States during the week to November 20, to 199,000 against 270,000 the previous week, announced for its part the Department of Labor. Economists expected an average of 260,000 jobless claims.
In addition to these two data, investors will watch monthly household income and expenditure statistics at 3:00 p.m. GMT, while the Federal Reserve will release at 6:00 p.m. GMT the minutes of its monetary policy meeting earlier this month.
At values, GAP and the Nordstrom chain of stores fell 21.9% and 24.2% respectively, the former for lowering its forecast for turnover and profit for the full year, the latter for have warned of a risk of shortages during the holiday season.
Conversely, the forecasts of Dell Technologies (+ 3.21%) and the solid quarterly results of HP (+ 9.50%) are welcomed.
The banks, which have profited in recent sessions from the prospect of an interest rate hike next year, are catching their breath. Bank of America and JPMorgan & Chase are down 0.5% and 0.1% respectively, while the banking sector index, up 4.1% since the start of the week, fell 0.31%.
Tesla is down nearly 4% after news of an additional sale of shares by Elon Musk, the group’s chief executive, for $ 1.05 billion (936 million euros) as a result of ‘a consultation on Twitter.
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