(New York and Toronto) The New York Stock Exchange ended lower on Tuesday, with investors taking a break after a long positive streak, in a lackluster market ahead of a weekend truncated by a holiday (Thanksgiving Thursday) in the United States. United.
The Dow Jones lost 0.18%, the NASDAQ lost 0.59% and the broader S
The Toronto Stock Exchange also fell, led by industrial and utility stocks.
The composite index S
On the currency market, the Canadian dollar traded at an average rate of 73.00 US cents, up from 72.85 US cents on Monday.
On the New York Mercantile Exchange, crude oil prices fell 6 US cents to US$77.77 per barrel, while natural gas prices fell 6 US cents to US$2.99 per million. of BTUs.
Gold prices gained US$21.30 to US$2001.60 per ounce and copper prices rose US$2 cents to US$3.81 per pound.
This move into the red ended a series of five consecutive sessions of gains for the NASDAQ.
“We have seen significant upward movements over the past month, with impressive progressions,” recalled Angelo Kourkafas of Edward Jones. “So it’s not so surprising to see a pause to digest these gains. Markets do not move in a straight line. »
The day thus saw some profit taking on star stocks, notably Microsoft (-1.16%), which had set its absolute record on Monday, Amazon (-1.53%) or the semiconductor manufacturer Broadcom (- 1.46%), also author of a peak the day before.
Operators did not react to the publication of the minutes of the last monetary policy meeting of the American central bank (Fed).
During their discussions, the members of the institution did not rule out the possibility of further tightening.
But Oxford Economics analysts stressed that several indicators had changed the economic landscape since the meeting held three weeks ago, notably a further deceleration in inflation.
“I don’t think this changes investors’ perception that the Fed is not going to raise its key rate in December,” said Angelo Kourkafas.
A sign of the phlegmatic reception of the market, bond rates have barely changed. The yield on 10-year US government bonds stood at 4.40%, compared to 4.41% the day before.
On the stock market, the New York market has seen a series of bad figures in the retail sector.
Electronics store chain Best Buy (-0.72%) reported lower-than-expected third-quarter revenue and lowered its full-year guidance.
Chief executive Corie Barry reported demand was “even more patchy and difficult to predict” than expected, and spoke of consumers looking for “deals” and promotions.
Another brand to lower its projections, the DIY chain Lowe’s (-3.12%), which anticipates a decline in its turnover of around 5% over one year, compared to a range of between 2 and 4% until here.
New, more modest estimates also for the Kohl’s department store network (-8.57%), which saw its sales contract by up to 4% over the year.
“We are being told of a slowdown during the current quarter, but it is not going to collapse either,” argued Angelo Kourkafas. “There’s nothing really alarming. The market turned it into an excuse to take a breath. »
The figures of the big brands were partially offset by the performances of smaller players, such as the ready-to-wear label Abercrombie
The automated warehouse specialist Symbiotic jumped 40.15% after reporting, Monday after market trading, meteoric growth in its turnover (60%).
