(New York) The New York Stock Exchange was moving in mixed order on Monday after another week of losses.
The Dow Jones Index fell 0.14%, the tech-heavy NASDAQ gained 0.79% and the S
Bond yields continued to be under pressure, with 10-year yields hovering above 4.30% near a 15-year high seen last week. As of 10:00 a.m. EST, it was up to 4.31%.
NASDAQ emerges from a weekly loss of 2.6%, the third in a row along with the broader S index
“Given the lack of indicators on the agenda this week, investors will focus on the interventions of Fed officials which will culminate on Friday with President Jerome Powell’s speech at the economic symposium in Jackson Hole” in Wyoming, said commented Will Compernolle of FNH Financial.
“Markets will look to Mr. Powell for a sense of the Fed’s center of gravity after the late July meeting” where the U.S. central bank raised rates marginally for the 11th time in nearly 18 months.
Briefing.com’s Patrick O’Hare said Monday’s attempted rally “was driven by investors’ inclination to buy stocks on the downside.”
“It can’t be anything else as bond yields climb, China’s central bank disappointed with lower than expected interest rate cuts…and the tropical storm invading Southern California,” said the analyst.
On Monday, China cut the one-year interest rate, which serves as a benchmark for business loans, to 3.45% to stimulate the economy, a move that failed to convince the markets.
On the side, we expect Monday the results of the Zoom videoconferencing company (1.61% at 9:40 a.m. Eastern time) then those of the manufacturer of highly sought after chips for artificial intelligence, Nvidia on Wednesday (4.25 % to $451). On Thursday, it will be the turn of retailers Gap (1.06%) and Nordstrom (0.81%).
Cybersecurity software firm Palo Alto Networks soared 16% to $243 after better-than-expected earnings per share.
Even if its quarterly turnover was a little disappointing, it is 26% higher than last year at the same time.
The title of Meta gained 0.84% while, according to the Wall Street Journal, the firm of Mark Zuckerberg could announce this week a web version of its social network Threads, launched a month and a half ago to compete with Twitter , renamed X by its owner Elon Musk.
The Regeneron laboratory advanced 1.28%, celebrated after a green light from the FDA drug authority for its treatment against macular degeneration.
Electric truck maker Nikola slumped 12% to $1.72 impacted by a costly recall of its batteries after incidents involving fire starts.
The group warned on Monday that it may not meet its vehicle delivery targets this year.
Losses in the utilities, financials and telecommunications sectors weighed on the Toronto Stock Exchange late Monday morning, as the main Canadian stock index was down and U.S. stock markets were mixed.
The composite index S
In the currency market, the Canadian dollar was trading at 73.78 US cents, down from its average price of 73.79 US cents on Friday.