(New York) The New York Stock Exchange ended the month’s last session lower on Wednesday, pending a key vote to resolve the US debt ceiling hike.
The Dow Jones index fell 0.41% to 32,908.27 points, the tech-heavy NASDAQ fell 0.63% to 12,935.29 points and the S
Over the month, the Dow Jones lost more than 3%, while the NASDAQ gained some 6% and the S
“Stocks have lost momentum even as debt concerns wane,” noted Jose Torres, economist for Interactive Brokers.
“A rise in job openings in the United States and weak economic data out of China undermined investor sentiment for this final session of the month,” he added.
Optimism about the likelihood of averting a U.S. default grew after a House of Representatives committee voted in favor Tuesday night on the compromise proposed by the White House and the chief of the Republican opposition.
The House of Representatives still has to vote Wednesday night at 8:30 p.m. EST before the Senate this weekend.
On the economic data front, the Jolts survey of job vacancies in April surprised with its dynamism with 10.1 million job openings against 9.8 million last month.
“This increase in job offers increases the upward bargaining skills of workers, which conflicts with the search for a slowdown in prices,” stressed Jose Torres.
The Beige Book, the last economic report published by the American central bank (Fed) before its monetary meeting in mid-June, reported stable activity, with weak growth over the past six weeks.
Finally, investors were also put off by the latest indicators from China. “The PMI report on manufacturing activity was depressing,” commented Edward Moya of Oanda.
The purchasing managers’ index, reflecting the health of the industrial sector, stood at 48.8 points against 49.2, while in services, activity fell to 54.5 points against 56, 4 the month before.
“The Chinese recovery is hitting a wall and the Chinese central bank will have to cut rates next month,” said Edward Moya.
On the side of the Fed, its future vice-president Philip Jefferson declared himself in favor of a pause in rate hikes in mid-June, in order to take the time to observe the evolution of the economy. But, he added, this should “not be interpreted” as the end of the hike cycle.
Listed auto parts chain Advance Auto Parts slumped 35.04% after announcing a cut in its dividend due to a poor first quarter, which could continue for the rest of Europe. year, management said.
Nvidia, the processor manufacturer boosted by demand for artificial intelligence (AI), fell back from its heights (-5.68%) after briefly passing the 1,000 billion capitalization mark on Tuesday on Wall Street.
Marvell Technology, a semiconductor company whose stock had benefited from the AI frenzy, fell 7.74%.
C3ai, a software company also focused on AI, whose share price has also increased almost fourfold since the start of the year, fell by 8.96%.
JP Morgan Bank fell 1.27% as a former bank executive told the Wall Street Journal he had discussed with CEO Jamie Dimon whether to keep the accounts of Jeffrey Epstein, the deceased financier accused of sex trafficking, which Jamie Dimon denies.
On the bond market, yields fell to 3.61% against 3.68% for those at ten years and to 4.37% against 4.45% for those at two years.
The Toronto Stock Exchange closed Wednesday’s session down nearly 170 points, the victim of a broad-based decline fueled by losses in the base metals and energy sectors, while major U.S. indices shed feathers them too.
The composite index S
In the currency market, the Canadian dollar traded at an average rate of 73.51 US cents, down from 73.54 US cents on Tuesday.
On the New York Commodities Exchange, crude oil prices fell US$1.37 to US$68.09 a barrel, while natural gas prices fell US6 cents to US$2.27 a barrel. million BTUs.
The price of gold rose US$5.00 to US$1982.00 per ounce and that of copper fell US3 cents to US$3.64 per pound.
