(New York) The New York Stock Exchange ended Monday with a slight increase, very close to equilibrium, unable to find direction on the eve of the start of the meeting of the American central bank (Fed).
The Dow Jones gained 0.02%, the NASDAQ index rose 0.01% and the S&P 500 index gained 0.07%.
“Nothing happened today, except for a handful of stocks that reacted to specific news,” commented Kim Forrest of Bokeh Capital Partners. “The market is waiting to see what the Fed will do. »
Operators are counting on a status quo on Wednesday, following the meeting of the institution’s monetary policy committee. However, they do not rule out a final increase in the key rate, in November or December.
For the manager, signs of slowdown in the American economy could outweigh the surge in inflation, mainly attributable to oil, and push the Fed to leave its rate unchanged until the end of the year.
After coming close to a 15-year high, the yield on 10-year US government bonds eased on Monday, to 4.30%, compared to 4.33% at the close on Friday.
On the odds, Apple was the big winner of the day (+1.69%), helped by data on delivery times for the iPhone 15 Pro Max, the most expensive model of the new generation of smartphones. Apple.
Analysts at Morgan Stanley noted that they were the longest in seven years, indicating strong demand. Pre-orders are up 10-12% from last year when the iPhone 14 launched, with unexpected appetite in China, according to analysts at Wedbush Securities.
The historic strike in the automobile sector penalized General Motors (-1.80%), Ford (-2.14%) and Stellantis (-1.61%). Discussions continue, but without major progress.
These developments did not benefit Tesla (-3.32%), although it was seen as one of the big winners in this social conflict, particularly because the manufacturer does not have a union within it.
After a euphoric first day of trading (+24.69%), Thursday, microprocessor designer Arm is struggling to find a second wind. Down sharply on Friday (-4.47%), it lost another 4.53% on Monday. In electronic trading after the close on Wall Street, it still lost almost 5%.
According to Sunday Telegraphanother British specialist in semiconductor architecture, Imagination Technologies, has confidentially filed its IPO file in New York, inflicting a new setback on the London market.
It’s another crucial week ahead on the IPO front, with the expected arrivals of grocery delivery platform Instacart on Tuesday and online marketing specialist Klaviyo later.
The irresistible rise in crude oil prices, to the highest in ten months, has worked for oil companies, from ExxonMobil (+0.81%) to Chevron (+0.43%).
Pfizer was sanctioned (-1.26%), after its financial director, David Denton, revealed that the laboratory was counting on a vaccination rate of 24% for the new anti-COVID-19 version in the United States, a forecast considered disappointing.
Moderna, whose new vaccine was also approved by the American Medicines Agency (FDA), suffered even more (-9.12%).
The electric truck manufacturer Nikola was propelled (+33.61%) by the announcement of the arrival of a new financial director, known in the sector, because she moved to General Motors.
Toronto Stock Exchange
The Toronto Stock Exchange closed Monday with a decline of more than 150 points, dragged down by losses in the technology and base metals sectors, while the major American indices ended the day essentially at the same level as last Friday .
The Toronto trading floor’s S&P/TSX composite index lost 129.51 points, or 0.63%, to close at 20,492.83 points.
On the currency market, the Canadian dollar traded at an average rate of 74.12 US cents, up from 73.93 US cents on Friday.
On the New York Mercantile Exchange, the price of crude oil rose 56 US cents to US$90.58 per barrel, while that of natural gas rose 8 US cents to US$2.73. per million BTUs.
The price of gold gained US$7.20 to US$1,953.40 per ounce and that of copper lost 2 US cents to US$3.78 per pound.
The Canadian Press