(New York) The New York Stock Exchange opened lower on Monday, continuing the consolidation movement started on Friday, with a number of investors withdrawing on the eve of the publication of an important inflation indicator.
Around 10:30 a.m. (Eastern time), the Dow Jones fell 0.60%, the NASDAQ index lost 0.48% and the broader S&P 500 index lost 0.56%.
“There is a debate (among investors) about whether the market needs a correction or whether it can continue to rise,” commented Karl Haeling of LBBW after an initial drop on Friday.
A certain nervousness reigned on the New York market, the VIX index, which measures market volatility, rising to its highest level in three weeks.
Bond rates rose slightly. The yield on 2-year US government bonds, reflecting operators’ expectations in terms of monetary policy, stood at 4.51% compared to 4.47% at Friday’s close.
“A lot of people are taking a step aside while waiting for the CPI tomorrow,” according to Karl Haeling, who is referring to the consumer price index for February.
For Patrick O’Hare, of Briefing.com, some wonder if the slide of the semiconductor giant Nvidia on Friday (-5.55%), would not mark the signal of the decline announced for weeks.
On Monday, the Wall Street star, whose chips are popular with artificial intelligence behemoths, was again in the red (-0.36%).
Other major microprocessor players, mainly Broadcom (-2.44%), AMD (-3.56%) and Micron (-2.86%), had a difficult start to the week, as did Meta (-4, 95%) or Amazon (-1.75%).
Like Friday, it seemed like the time for cheap purchases, which benefited Apple (+1.63%), Alphabet (+2.01%) and Tesla (+2.42%), the three big technological stocks neglected until now by investors.
In the bargain section, Starbucks (+0.88%), PayPal (+1.42%), Moderna (+10.77%) or Nike (+1.31%) were all sought after.
The Choice Hotels group soared (+4.60%) after officially giving up on taking control of its competitor Wyndham Hotels (+0.32%). When its offer expired, Choice indicated that it had not received enough securities to complete its operation and will return the shares that had been provided to it.
After a surge following Wednesday’s announcement of a billion-dollar recapitalization, the regional credit institution New York Community Bank (NYCB) continued a second session of decline (-3.80%). .
The attacks nevertheless seemed to be limited to NYCB; other regional banks with strong exposure to the commercial real estate market, currently in difficulty, were behaving better.
The brand of New Jersey Valley National Bancorp (+3.38%) or that of Little Rock (Arkansas) Bank OZK (+0.02%) were thus in the green.
Driven by the rise of bitcoin, which reached a new record on Monday at $72,385, the values of the cryptocurrency sector paraded, like the Coinbase exchange platform (+3.11%) or the “miner » (creator of digital currencies) Riot Platforms (+0.49%).
Boeing was in a bad direction (-3.74%). The Wall Street Journal reported on Saturday the opening of a Justice Department investigation into the January 5 incident, which saw a door come loose during a flight on a 737 MAX 9 aircraft. Alaska Airlines.
The gas group EQT fell (-8.13%) after the announcement of the acquisition of its former subsidiary Equitrans Midstream Corporation (+1.57%), operator of a major gas pipeline in the northeast of the United States, for $5.5 billion.
The Toronto Stock Exchange falls
Losses in the industrials and technology sectors dragged down Canada’s main stock index late Monday morning.
The S&P/TSX Composite Index lost 52.55 points to 21,684.98.
The Canadian dollar traded at 74.10 US cents, compared to 74.23 US cents on Friday.
The Canadian Press