(New York and Toronto) The New York Stock Exchange ended lower on Tuesday, investors taking a break after a long positive streak, on a market without enthusiasm before a weekend truncated by a public holiday (Thanksgiving Thursday) in the United States. United.
The Dow Jones lost 0.18%, the NASDAQ index lost 0.59% and the broader S&P 500 index returned 0.20%.
The Toronto Stock Exchange also fell, led by industrial and utility stocks.
The Toronto trading floor’s S&P/TSX Composite Index closed down 136.50 points at 20,109.97 points.
On the currency market, the Canadian dollar traded at an average rate of 73.00 US cents, up from 72.85 US cents on Monday.
On the New York Mercantile Exchange, the price of crude oil fell 6 US cents to US$77.77 per barrel, while that of natural gas fell 6 US cents to US$2.99 per million. of BTUs.
The price of gold gained US$21.30 to US$2,001.60 per ounce and copper rose 2 US cents to US$3.81 per pound.
This move into the red ended a series of five consecutive sessions of gains for the NASDAQ.
“We have seen significant upward movements over the past month, with impressive progressions,” recalled Angelo Kourkafas of Edward Jones. “So it’s not so surprising to see a pause to digest these gains. Markets do not move in a straight line. »
The day thus saw some profit taking on star stocks, notably Microsoft (-1.16%), which had set its absolute record on Monday, Amazon (-1.53%) or the semiconductor manufacturer Broadcom (- 1.46%), also author of a peak the day before.
Operators did not react to the publication of the minutes of the last monetary policy meeting of the American central bank (Fed).
During their discussions, the members of the institution did not rule out the possibility of further tightening.
But Oxford Economics analysts stressed that several indicators had changed the economic landscape since the meeting held three weeks ago, notably a further deceleration in inflation.
“I don’t think this changes investors’ perception that the Fed is not going to raise its key rate in December,” said Angelo Kourkafas.
A sign of the phlegmatic reception of the market, bond rates have barely moved. The yield on 10-year US government bonds stood at 4.40%, compared to 4.41% the day before.
On the stock market, the New York market has seen a series of bad figures in the retail sector.
The electronics store chain Best Buy (-0.72%) published a turnover lower than expectations for the third quarter and revised downwards its objectives for its entire financial year.
Chief executive Corie Barry said demand was “even more uneven and difficult to predict” than expected, and spoke of consumers looking for “deals” and promotions.
Another brand to lower its projections, the DIY chain Lowe’s (-3.12%), which anticipates a decline in its turnover of around 5% over one year, compared to a range of between 2 and 4% until here.
New, more modest estimates also for the Kohl’s department store network (-8.57%), which saw its sales contract by up to 4% over the year.
“We are being told of a slowdown during the current quarter, but it is not going to collapse either,” argued Angelo Kourkafas. “There is nothing really alarming. The market turned it into an excuse to take a breath. »
The figures of the big brands were partially offset by the performances of smaller players, such as the ready-to-wear label Abercrombie & Fitch (-2.41%), which expects a fourth quarter of strong growth, or the chain of sports equipment stores Dick’s Sporting Goods (+2.17%).
The automated warehouse specialist Symbiotic jumped 40.15% after reporting, Monday after market trading, dazzling growth in its turnover (+60%).