(New York) The New York Stock Exchange was down slightly on Wednesday ahead of the release of U.S. inflation data on Thursday and after a session in the red the day before, weighed down by disappointing trade data in China and worries. in the banking sector.
The Dow Jones index fell 0.03%, the tech-heavy NASDAQ fell 0.58% and the S index
On Tuesday, the Dow Jones fell 0.45% to 35,314.49 points. The NASDAQ had dropped 0.79% to 13,884.32 points and the S
“It was pretty quiet on Tuesday in the US with earnings announcements slowing down and that directed more attention to the bad news coming out of China,” recalled Art Hogan of B. Riley Wealth Management.
Beijing reported a 14.5% drop in exports and 12.5% drop in imports in July year on year, reflecting a slump in demand. To this was added a downgrading of the rating by Moody’s of a dozen American regional banks, which had caused securities in the banking sector to fall.
On Wednesday, investors were cautiously awaiting US inflation figures to be released on Thursday for the CPI consumer price index and Friday for producer prices. Analysts expect inflation to come in at 3.3% year on year from 3% for June.
These numbers will fuel expectations for the stance of US monetary policy as a large majority of investors believe the central bank (Fed) will opt for a status quo on rates in September.
China for its part reported a 0.3% decline in its CPI index year on year, “the first sign of disinflation since February 2021”, noted Patrick O’Hare of Briefing.com.
In the bond market, yields on ten-year Treasury bills stood at 4.00% compared to 4.02% the previous day.
On the stock market, the market was expecting the results of Disney (0.91% at the opening) and the hotel and casino group Wynn Resorts (-0.04%), which will be announced after the closing.
Disney took advantage of a partnership signed by its sports channel ESPN with the casino operator Penn Entertainment (16.30%) for some 2 billion dollars over ten years creating a sports betting network.
The title of the online gaming platform Roblox collapsed 19.25% to 30.48 dollars, sanctioned after the announcement of a larger than expected quarterly loss associated with lower than expected reservations.
Electric vehicle maker Rivian dropped 4.66% despite better-than-expected second-quarter results.
Rivian raised its vehicle production forecast to 52,000 from 50,000 for the year and reduced its operating loss projection.
The title of Lyft, the competitor of Uber in the rental of cars with driver, fell 5.23% to 10.95 dollars after having climbed sharply the day before. The company saw revenue rise 3% in Q2 to $1.02 billion and narrowed its loss to $114.3 million.
But revenue per customer fell year on year as Lyft lowered prices to compete with Uber.
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