(New York) The New York Stock Exchange ended Wednesday directionless, around breakeven, treading water for the third straight session at the start of a mixed earnings season.

The Dow Jones index fell 0.23% to 33,897.01 points, the tech-heavy NASDAQ edged down 0.03% to 12,157.23 points and the S

“In recent sessions, the market has tried to go in one direction or another and never succeeded,” summarized Maris Ogg, portfolio manager at Tower Bridge Advisors.

“It’s a reasonable attitude given that we are only at the start of the earnings season and these, frankly so far, have been particularly mixed,” added the analyst.

Netflix, which announced mixed results after the close on Tuesday, was penalized, the stock lost 3.17% to $323.12.

The streaming veteran saw his number of subscribers grow in the first quarter to 232.5 million, but less than expected. In addition, its profit fell by 18% year on year.

Tesla, which fell from 2.02% to 180.59% due to a further drop in the prices of its electric vehicles, was still deteriorating by 1.14% in electronic trading.

After the closing, the group of Elon Musk published a decline in its profit of 24% in the first quarter, even if its turnover rose by as much.

IBM, which also announced its results after the close, ended the session down 1.14%, but regained ground in electronic trading (3%). The computer manufacturer, whose title had already stalled at the start of the week, was therefore on the rise again despite a quarterly result that was worse than expected, due in particular to the stronger dollar.

Hewlett Packard lost more than 5%, Intel more than 2%.

The action of the American investment bank Morgan Stanley, which had started sharply lower on Wednesday, after a decline in profit, but better than expected, finally took 0.62%.

Its net profit slipped 20% in the first quarter as companies use its services less for takeover transactions.

Between the uncertainties about the direction of the economic situation, the rise in interest rates and the volatility of the markets, the bosses are indeed reluctant to initiate takeovers or raise money on the markets.

Entertainment park giant Disney lost 2.16% as it engages in a political-economic tug of war with conservative Florida Governor Ron DeSantis.

“Investors are primarily focused on four issues: first quarter earnings guidance, the Fed’s decision on May 3, when the recession will hit, and whether the S

“We’re going to really understand where corporate earnings are going when we get to regional banks next week,” said Marris Ogg, referring to the impact of the March mini bank panic.

In its Beige Book, an economic report published Wednesday by the Fed, the Federal Reserve noted that the volume of loans granted and borrowings requested had decreased in March and April, since the banking difficulties caused by the bankruptcy of the SVB bank.

“Several regions noted that banks have tightened lending standards amid heightened uncertainty and liquidity concerns,” the document details.

On the bond market, yields on two-year bills rose to 4.26% against 4.19% the previous day, while those on 10 years returned to virtual stability at 3.58% against 3.57 %.