(New York) The New York Stock Exchange was trading just above breakeven after opening slightly lower on Tuesday, lacking conviction in the absence of economic indicators.
The Dow Jones gained 0.04%, the NASDAQ gained 0.03% and the broader S
The day before, after mixed news on the side of the activity of services in the United States, the Dow Jones index had dropped 0.59% to 33,562.60 points, the NASDAQ, dominated technology, had lost 0.09 % at 13,229.43 points and the S
“The lack of conviction on Tuesday is a bit about the arrival of the summer mood, but it is also due to the feeling that mega-caps have hit a wall,” said Patrick O’Hare of Briefing.com.
“Investors are also in a wait-and-see mode ahead of the CPI inflation index release next week and the Fed’s monetary meeting,” the analyst added.
For Schwab experts, risk appetite was muted “given the rise of the dollar” and bond yields.
These went from 3.68% to 3.72% for rates on ten-year bonds.
The market was also digesting Apple’s entry into the metaverse. The apple group announced on Monday the launch of its first virtual and augmented reality headset, called Vision Pro, which the manufacturer will sell for 3,500 dollars.
Just before the announcement, the Cupertino group, already the first capitalization of Wall Street, reached the historic peak in the matter, of 2850 billion dollars.
The title reached a ceiling before retreating at the close. On Tuesday, it was down 0.79% at $178.50 around 10:20 a.m. EST.
But it was the world of cryptocurrencies that shook the market on Tuesday. After the legal attack on Binance, the largest trading platform in the world, by the SEC on Monday for circumventing regulations, it was around Coinbase to be prosecuted by the stock market policeman.
The American Financial Markets Authority has sued the first cryptocurrency trading platform in the United States, Coinbase, for non-compliance with the regulations.
“It went off like a bomb,” commented Patrick O’Hare. Coinbase’s stock on the NASDAQ fell more than 16% to $49.10.
The market policeman criticizes the platform, which has 110 million users, for not having registered with him as a trading platform and intermediary for cryptocurrency transactions.
By the end of 2022, Coinbase had $80 billion in assets.
SEC boss Garry Gensler, interviewed by CNBC, denounced the crypto-asset market “which undermines investor confidence in the capital markets in general”.
Bitcoin, which had lost some 6% the day before to fall to a three-month low after the announcement of Binance’s lawsuit by the SEC, recovered slightly (1.5%) rising to $26,000.
Oil stocks fell in the wake of oil prices, which despite the production cuts announced by Saudi Arabia for next month, fell by almost 1.5%.
Thus Exxon Mobil yielded 0.43%, Chevron 0.65%.
Unity Software’s stock fell 2.42% after jumping the day before in the wake of the announcement of Apple’s headset that will use its software.