(New York) The New York Stock Exchange ended Thursday’s session with no clear direction, the Dow Jones weighed down by Disney results while the other two major indices began to rebound.
The flagship Wall Street index thus closed down 0.44%, at 35,921.23 points, while the technology-heavy NASDAQ gained 0.52% to 15,704.28 points and the Extended S&P 500 Index, 0.06% at 4649.27 points.
Far from its magical world, Disney had a very bad day, the day after the publication of results that disappointed the market.
The entertainment giant missed the target on turnover and net profit, but above all only gained two million net subscribers to its Disney + online video service, the flagship of its new digital strategy. However, analysts expected at least fourfold.
On its own, Disney, which weighs just over 3% of the Dow Jones and dropped 7.07% on Thursday, was enough to drag the index into the red, with the help of Visa (-2.38%) , which represents 3.9% of the total.
The fact that the market is moving in limited volumes, as Thursday was a public holiday in the United States (in honor of veterans), has contributed to the volatility of the Dow Jones.
But beyond the flagship index of the New York Stock Exchange, “we saw a small rebound,” commented Peter Cardillo of Spartan Capital. The market remained, in fact, on two sessions of decline, after eight consecutive records for the S&P 500.
In the absence of macroeconomic news, or even any short news, public holiday obliges, investors focused on stocks which had just published their results.
In addition to Disney, the financial company Affirm, which has become the symbol of the emergence of online credit purchases, was put into orbit (+ 13.70%) after announcing the strengthening of its partnership with the giant Amazon.
All purchases of $ 50 or more made on Amazon can now be staggered with the assistance of Affirm.
The Tapestry group, which controls several fashion brands, also stood out (+ 8.38%) thanks to results exceeding expectations, boosted by its Coach brand, whose sales are 15% above their level. two years ago, before the pandemic.
Conversely, the specialist in plant-based meat substitutes Beyond Meat unscrewed (-13.28%), weighed down by results below expectations. The group reported a lack of manpower and supply chain disruptions.
Thursday nightmarish also for the dating site Bumble (-19.25%), which recorded a loss while the market expected to break even over the quarter, and gained fewer users than expected.
As for the e-commerce site JD.com, it jumped (+ 8.31%) after revealing that its platform had recorded almost $ 55 billion in sales on the occasion of China’s Singles Day, the most important e-commerce event in the world.
Its competitor Alibaba also benefited from the momentum of this extraordinary day (+ 2.37%), during which transactions on its platforms reached more than $ 80 billion. Another Chinese e-commerce site, also listed on Wall Street, Pinduoduo was also sucked up (+ 7.35%).
The US bond market was closed on Thursday.
Toronto on the rise
The Toronto Stock Exchange rebounded Thursday to continue its advance into record territory as the materials sector got a boost from investors seeking protection against inflation.
The S & P / TSX Composite Index gained 120.05 points to end the session with 21,581.98, after hitting a new all-time high earlier today.
In the currency market, the Canadian dollar traded at an average rate of 79.46 cents US, down from 80.31 cents US the previous day.
The price of gold climbed US $ 15.60 to US $ 1,863.90 per ounce and that of copper rose 7.7 cents US to US $ 4.40 per pound.
The Canadian Press