Sunday , August 14 2022

Wall Street, which has been weighted by disappointing indicators, ends down


First publication:

New York (AFP)

The New York Stock Exchange ended on the Red Thursday, which was weakened by a series of mixed statistics on the health of the US economy while Washington continued to hold trade talks between China and the US.

The leading index of the New York Stock Exchange, Dow Jones Industrial Average, dropped 0.40 percent to 25,850.63 points, and 0.33 percent lost in the Nasdaq index, with a strong technological edge. 7,459.71 points.

The extensive index of S & P 500 lost 0.33% to 2,774.88 points.

This fall "is mainly the consequences of economic data released on Thursday, generally weak," said Bill Lynch, Hinsdale Associates.

In the forefront of real estate, sales of existing homes in January dropped to a lower level in three years.

Manufacturing activity in the Philadelphia area (United States of the North East of England) slowed down in February for the first time in almost three years.

And the flagship indicator of the Conference Board was also falling as analysts anticipated progress.

On the positive side, weekly claims for Unemployment benefits in the United States have dropped more than expected to drop down to five weeks, as the effect of the partial cut has completely disappeared. .

Industrial durable commodity orders in the United States rose by 1.2% in December, led by the car sector. However, without the volatile transport sector, orders for goods had solved only 0.1%.

"After eight weeks of successive progress" for the Dow Jones and Nasdaq, "we have to go down a bit and these indicators are excuses," said Lynch.

Investors continued to scrutinize all the details of high-level trade talks between Americans and Chinese.

US Trade Representative Robert Lighthizer (USTR), Treasury Secretary Steven Mnuchin, and Chinese Prime Minister Liu met in Washington on Thursday to try to reach agreement after months of tension and threats.

These discussions follow two days of work in the US capital between the delegation of both countries. There's almost no official filter of these discussions.

On the bond market, the interest rate on the ten year debt rose to 2.690%, against 2.645% on Wednesday at the end, and on the 30 year debt to 3.043%, against 2.995% per day .

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