(New York) The hesitant New York Stock Exchange moved slightly lower on Tuesday, after the release of mixed US indicators, while oil prices stabilized.
Around 10:45 a.m. EST, the Dow Jones index fell 0.35%, the tech-heavy NASDAQ lost 0.15%, and the broader S
After jumping more than 6% on Monday following the announcement of an OPEC crude production cut, oil prices were stabilizing around $80 a barrel for Texas WTI.
On the New York stock market, lacking a catalyst to motivate positions, investors remained cautious.
As of 10:00 a.m. EST, the release of a labor market indicator showed that job vacancies in the United States fell below the 10 million mark in February, well below forecasts.
The Labor Department’s Jolts survey found 9.93 million job vacancies, down 632,000 from January and their lowest level since May 2021.
This figure indicates that the job market is cooling, an objective sought by the American central bank (Fed), because this implies less pressure on wages and therefore less inflation.
Stock market indices momentarily went into the green with the publication of this survey, as investors see in this slowdown in the labor market the opportunity for the Fed to soon pause its rate hikes.
They then retracted with the publication of industrial orders, which weakened more sharply than expected in February to -0.7%, after already falling 2.1% in January, according to the Ministry of Commerce.
The transportation sector was largely responsible for this decline in orders, since without aviation or the automotive sector, orders fell only 0.3%.
On the stock market, heavyweight Dow Jones, Boeing lost altitude (-2.51% around 10:40 a.m. Eastern Time) after an investment advisory firm downgraded the aircraft manufacturer’s delivery prospects .
Tesla stock, which fell more than 6% on Monday, fell 0.71% as investors watch the electric carmaker’s vehicle delivery figures. These rose in the first quarter, but at the cost of a price cut that could happen again, analysts fear.
The action Virgin Orbit, the company of Richard Branson, specializing in the launch of small satellites, was in agony, plunging 20% to weigh only 15 cents. The company filed for US bankruptcy on Tuesday. This measure comes after the dismissal announced last week of 675 employees, or 85% of the workforce of this subsidiary of the British billionaire’s empire.
Shares of e-commerce site dedicated to artisans, Etsy, climbed 3.52% after a favorable analyst opinion.
In the absence of any other business-specific news engine, “focus this morning was also on JPMorgan Chase CEO Jamie Dimon’s annual letter,” said analyst Patrick O’Hare. from Briefing.com.
Jamie Dimon said the regional banking crisis is not over and will have repercussions for years to come, even if it has nothing to do with the systemic risks of the 2008 financial crisis.
On the bond market, yields on 10-year notes, which were stretching a little to 3.46% before the publication of the indices, reversed the trend, falling to 3.36% against 3.40% the day before.
