(New York) The New York Stock Exchange was trading in disarray on Wednesday, with the star indices Dow Jones and S&P 500 trying to rebound after three sessions of losses, in a sparsely attended Easter week market.
The Dow Jones index gained 0.67% while the technology-dominated NASDAQ lost 0.11%. The broader S&P 500 index advanced 0.29% around 10:10 a.m. (Eastern time).
On the second day of a shortened week of weak trading – Wall Street being closed on Friday – the Dow Jones lost 0.08% on Tuesday to 39,282.33 points.
The NASDAQ, which closed on a record last week, fell by 0.42% to 16,315.70 points.
After hitting 20 successive peaks since the start of the year, the S&P 500 dropped 0.28% to 5203.58 points.
Over the month, the broad index, the most representative of the market, advanced 2.1% and 9.1% over the quarter which ended Thursday for the markets.
The NASDAQ is up 1.4% so far in March and 8.7% in the first quarter. For the Dow Jones, this increase is 0.7% over the month and 4.2% over the quarter.
These three months could represent the best first quarter since 2019, before the COVID-19 crisis, for the S&P and since 2021 for the Dow Jones.
No indicators were planned for Wednesday, but the market will monitor, after the close, the remarks of Fed Governor Christopher Waller.
Data publications resume on Thursday with a final revision of US GDP growth in the fourth quarter of 2023 and especially on Friday with inflation, according to the PCE index, the Fed’s favorite measure, and consumer spending.
But Wall Street will be closed on Good Friday.
On the value side, all eleven sectors of the S&P 500 were in the green, driven by utilities (+1.36%), real estate (+1.29%) and health (+1.07). %).
Apple regained strength (+1.50%) while the stock suffered particularly after the announcement of prosecution by the American government for monopolistic practices on the iPhone.
In processors and semiconductors, while Nvidia lost almost 1%, its competitors gained ground such as Intel (+2%), AMD (+1.71%) or Micron Technology (+0.80%).
Former US President Donald Trump’s media company, Trump Media and Technology Group (TMTG), which oversees the social network Truth Social, was rising for its second session on the NASDAQ.
“DJT” securities, which recall Donald Trump’s initials, climbed almost 12% after closing up 16.10% at $57.99 the day before.
The social network Reddit, on the other hand, which was listed on the stock market last week, experienced its first session of decline, falling by 11%.
On the bond market, yields on Treasury bills eased slightly to 4.22% from 4.23%.
The securities of regional banks advanced significantly such as Comerica (+1.63%), Western Alliance (+1.70%). The big banks were also on the upward slope such as Bank of America (+1.20%) or Citigroup (+1.05%).
reference: www.lapresse.ca