(New York) The New York Stock Exchange indices ended Monday with modest gains in the last session of a positive July, the fifth in a row for the NASDAQ and the S
The Dow Jones Index gained 0.28% to 35,559.53 points, the technology-heavy NASDAQ advanced 0.21% to 14,346.02 points and the broader S
THE
“There’s been some profit taking and it’s probably healthy for the market with the rise we’ve had,” in recent weeks, Peter Cardillo of Spartan Capital told AFP.
“In the meantime, what we need is a new catalyst, because the market has already priced in earnings season,” he added.
“We are halfway through the earnings season and so far have been generally better than expected,” commented Art Hogan of B. Riley Wealth Management.
“Of the 220 firms in the S
Investors are therefore mainly awaiting the official employment figures for July in the United States, which will be published on Friday.
For Edward Moya of Oanda, “brokers are not going to change positions much before the employment report on Friday”.
This report should continue to show that the labor market remains “tight” in the United States, the analyst said.
Projections are indeed betting on another 200,000 new job creations, but with an increase in hourly wages a little less strong than the previous month (0.3%).
Investor sentiment was also made cautious by the Federal Reserve’s (Fed) monthly survey of major bank loan managers (SLOOS) which shows that lender conditions remain tight.
“Despite the end of the banking crisis” that came with the bankruptcy of Silicon Valley Bank in March, “credit conditions remain unusually tight,” noted Paul Ashworth of Capital Economics.
The analyst points out that while the percentage of banks tightening their conditions for commercial real estate loans has fallen a little, on the other hand, the percentage of institutions tightening conditions for industrial and commercial loans has reached a new high for the cycle. current.
Listed, Uber shares rose 2.74% to 49.46 dollars as the group is due to announce its quarterly results on Tuesday. Its rival Lyft also took 1.84%.
Cava, the Mediterranean-inspired fast food brand that successfully floated on the stock exchange in June at a price of $22, jumped nearly 8% to close at $57.11.
Pharmaceutical giant Johnson and Johnson slumped 3.98% to $167.53 as its plan to claim damages from a third-party lawsuit over its potentially carcinogenic talc case was struck down by a judge . J
The energy sector drove the market like Exxon (2.96%) or Chevron (3.02%) thanks to a good month of July for crude oil prices which recorded their strongest increase over a month since April 2022 (14% for Brent).
The results of the megacaps Apple (0.32%) and Amazon (1.11%) are also expected at the end of the week on Thursday after the close, while the activity indicators for the manufacturing and services sectors (ISM) will be published respectively on Tuesday. and Thursday.
On the bond market, ten-year rates were up very slightly to 3.96%.
The Toronto Stock Exchange closed Monday with a gain of more than 100 points, boosted by strength in its information technology and metals sectors, while major U.S. indices also rose.
The composite index S
In New York, the Dow Jones industrial average gained 100.24 points to 35,559.53 points, while the broader S index
Crude oil prices continued their steady climb, approaching the US$82 a barrel mark on Monday.
On the New York Commodities Exchange, crude oil prices rose US$1.22 to US$81.80 a barrel, while natural gas fell less than US$1 cent to $2.63. US per million BTU.
The price of gold rose US$9.30 to US$2009.20 per ounce and copper rose US8 cents to US$4.01 per pound.
In the forex market, the Canadian dollar traded at 75.81 US cents, according to trade site XE.com, up from its average price of 75.57 US cents on Friday.
