(New York) The New York Stock Exchange ended lower on Wednesday, under the effect of profit-taking after a series of records, against a backdrop of wait-and-see behavior before the results of semiconductor giant Nvidia.
The Dow Jones lost 0.51%, the NASDAQ index fell 0.18% and the S&P 500 index dropped 0.27%.
For the first time in four sessions, Wall Street recorded no new record among the major indices.
The withdrawal movement “really started after the publication of the Fed minutes”, the report of the last meeting of the American central bank, underlined Patrick O’Hare, of Briefing.com.
During this meeting of April 30 and 1er May, participants considered it necessary to maintain high rates for longer than expected, due to a resurgence in inflation.
Prices have since calmed down, according to the CPI index for April, alleviating fears.
The report “didn’t say anything we didn’t already know,” according to Patrick O’Hare, who noted the mention of “high” asset prices, which includes stocks. “Maybe it was used as an excuse to sell. »
Investors also positioned themselves before the announcement, after the stock market, of Nvidia’s quarterly results.
“Operators are expecting an event that could cause the entire market to suddenly rise or fall,” said Patrick O’Hare, regarding Nvidia’s accounts. “They took the opportunity to take some profits after a long climb. »
Unknown to the general public until two years ago, Nvidia was catapulted by the emergence of so-called generative artificial intelligence (AI), a large consumer of its chips, the famous graphics cards, to the point of becoming the symbol of this movement. .
In addition to Nvidia (-0.46%), Apple (-0.75%) and Alphabet (-0.86%) were thus targeted.
However, Microsoft resisted this movement (+0.34%) and continued its irresistible progression, consolidating its status as the world’s largest capitalization.
The group continues to build on the momentum of recent announcements of products using so-called generative artificial intelligence (AI), particularly new consumer computers.
Other targets of these liquidations are financial stocks, which have been very prominent in recent weeks. Goldman Sachs (-1.71%), JPMorgan Chase (-0.61%) and American Express (-1.23%) all finished clearly in the red.
Elsewhere on the stock market, for having published a profit lower than expectations, Target was sanctioned (-8.03%).
Its CEO, Brian Cornell, cited inflation, which erodes consumers’ purchasing power. The group nevertheless sees the situation improving, particularly for non-essential items, and has confirmed its annual forecasts.
Unlike Target, the Chinese e-commerce giant Pinduoduo (+1.13%), parent company of the Temu site, has taken advantage of consumers’ current attraction for low prices and good deals, with results significantly higher than projections.
Same story for TJX (+3.50%), which notably oversees the TJMaxx markdown chain and exceeded market expectations.
The BuzzFeed media group was put into orbit (+20.40%) by the announcement of the entry into the capital of the former candidate for the Republican nomination for the American presidential election, Vivek Ramaswamy, who joined to Donald Trump.
The entrepreneur and politician now controls 7.7% of the capital, according to a notice published by the American markets regulator, the SEC.
Sports equipment manufacturer Lululemon Athletica, known for its high-end yoga pants, was heckled (-7.23%) after reporting the departure of product manager, Sun Choe, who will not be replaced. Analysts see this as a new episode in the group’s difficulties, whose sales are at half mast.