(New York) The New York Stock Exchange hovered around breakeven after opening Monday following a robust week that sent the Broader S Index higher
The Dow Jones Index was down 0.27%, the tech-heavy NASDAQ was up 0.06% and the S
“The market had ended the week on a positive note following passage of the debt ceiling agreement and a strong US jobs report,” said Art Hogan of B. Riley Wealth Management.
On Friday, the Dow Jones rose 2.12%, the NASDAQ index rose 1.07% and the broader S
The NASDAQ ended at its highest closing level in 13 months, while the S
“High inflation and the shock of rising rates have yet to derail an economy that continues to produce robust gains on the employment side,” noted analyst B. Riley.
The week promises to be rather calm on the side of the indicators as well as on the side of the interventions of members of the Fed who must remain silent before the monetary meeting of June 13 and 14.
Markets estimate that “there is a 76% chance that rates will remain unchanged on the 14th while the odds of a status quo were 30% before the jobs report” which notably showed a slowdown in the rise salaries.
Rare economic data on the agenda, in addition to the trade balance for April on Wednesday, activity in services in the United States barely progressed more slowly in May, according to the survey by the professional federation ISM.
The index measuring this activity was 50.3%, less than expected and at a slower pace compared to April (51.9%).
Investors were also expecting repercussions for the equity market when Saudi Arabia announced further oil production cuts at an OPEC meeting this weekend.
As the world’s largest oil exporter, Riyadh has decided to cut production by up to a million barrels a day from July, with the intention of pushing up crude prices.
The price of a barrel of American WTI oil, which rose 2.66% just after the opening of the Stock Exchange, slowed its rise to 1% around 10:15 a.m. (Eastern time).
At the odds, Exxon Mobil took 0.14%, Chevron 0.29%. On the oil services side, Halliburton lost 1.83%, Shclumberger 1.05%.
Apple climbed 1.38% to $183.46, its market capitalization hitting a new all-time high at some $2,846 billion as the Apple group prepares to introduce its first virtual reality (VR) headset.
Apple is expected, observers say, to unveil its first mixed reality headset — which mixes VR and augmented reality (AR) — at its annual developer conference.
Virtual reality is currently dominated by Meta, whose stock was edging up 0.33% long before Apple’s expected announcement.
Bargain chain Dollar General fell 2.02% after a downgrade in stock appreciation by Morgan Stanley.
The supermarket chain Target yielded 1.70%.
Titles in the artificial intelligence universe came back a little from their heights, Nvidia dropping 1% and Marvell Technology 4.19%.
The American restaurant chain Cava could go public on Tuesday, according to the Wall Street Journal, forecasting an IPO price between 17 and 19 dollars per share, which would value the group at 2.2 billion dollars at most. .
The bond market was stable, with rates rather on the decline, at 3.67% for the yield on ten-year Treasury bills against 3.69% on Friday.