(New York) The New York Stock Exchange ended lower on Tuesday, concerned by the further escalation of bond yields, oil prices and the possibility of a more aggressive US central bank than expected on Wednesday.
The Dow Jones lost 0.31%, the NASDAQ dropped 0.23% and the broader S
“There is not a lot of conviction at the moment” on Wall Street, reacted Patrick O’Hare, of Briefing.com, before the communication from the American central bank (Fed) on Wednesday.
Operators are counting, almost unanimously, on a status quo from the Fed, but are focused on the projections of the members of the institution in terms of economic growth and monetary trajectory.
“There’s a little bit of nervousness in the bond market,” he added. “We are talking about the possibility that the Fed dampens the market’s hopes for rate cuts in 2024.”
The yield on 10-year US government bonds rose on Tuesday to its highest level in 15 years, at 4.3667%.
This acceleration is also due to the surge in oil prices, which has brought back the specter of inflation out of control in recent weeks, likely to push the Fed to further harden its position.
The hot spell in the bond market penalized the technology sector, dependent on credit conditions to finance its growth. Nvidia (-1.01%) and Amazon (-1.68%) were the worst hit among the tech giants.
The big event of the session was the stock market debut of the grocery delivery platform Instacart. After being catapulted in the first exchanges, and taking up to 43%, the action of the San Francisco group stalled, still gaining 12.33%.
The platform is now valued at some $9.3 billion, or $11.3 billion if you count the titles awarded to Instacart employees and managers. You will still have to wait to find out if the test is successful.
Elsewhere on the stock market, investors have freshly welcomed the major investment plan of Disney boss (-3.62%), Bob Iger, who plans a budget of 60 billion dollars over 10 years for amusement parks and cruises.
The steelmaker US Steel performed well (3.70%) the day after forecasts were higher than analysts’ expectations for the third quarter.
Semiconductor manufacturer Intel fell (-4.34%) after comments deemed disappointing by financial director David Zinsner on the group’s forecasts.
The Toronto Stock Exchange lost 1.3% on Tuesday, the victim of a widespread decline that followed the release of data showing higher-than-expected inflation last month, while major U.S. indexes also retreated .
The composite index S
In New York, the Dow Jones industrial average fell 106.57 points to 34,517.73 points, while the broader S
On the currency market, the Canadian dollar traded at an average rate of 74.48 US cents, up from 74.12 US cents on Monday.
On the New York Mercantile Exchange, the price of crude oil was down 10 US cents at US$90.48 per barrel, while that of natural gas rose 12 US cents to US$2.85 per million barrels. BTUs.
The price of gold advanced by 30 US$ cents to US$1,953.70 per ounce and that of copper depreciated by 3 US cents to US$3.75 per pound.
