(New York) The New York Stock Exchange ended up slightly on Monday, lacking news likely to give shape to a real rebound, in a market already turned towards the publication on Friday of a key indicator of inflation in the United States. United.
Updated yesterday at 4:52 p.m.
The Dow Jones gained 0.05%, the tech-heavy NASDAQ index gained 0.40%, and the broader S&P 500 index 0.31%.
Wall Street had opened firmly in the green, which gave hope for a rebound after a week marked by three sessions of decline over four days (Monday was a holiday).
“This startup was not led by a catalyst, something that could sustain it, other than the reopening in China”, which lifted a good part of the health restrictions imposed for several weeks, explained Art Hogan, of National Securities.
After Shanghai, the city of Beijing announced on Sunday the lifting of numerous containment measures, put in place in early May.
“Buying enthusiasm died down” as the session progressed, analysts at Briefing.com agreed.
For Art Hogan, operators were also scalded by the rise in bond rates, which had eased significantly at the end of May.
The yield on 10-year US government bonds thus stood at 3.04%, an altitude not seen for almost a month.
Last week, the market “saw a potential slowdown in the rate hike by the Fed (US central bank) in September”, recalls Art Hogan, “and that has since dissipated”.
Traders now estimate a 72.5% chance that the institution will raise its key rate by at least half a percentage point at each of its next three meetings, in June, July and September, a higher proportion than never.
Witness to these expectations, the yield on three-month US Treasury bills rose to 1.21% on Monday, for the first time in 27 months, i.e. in the early days of the pandemic.
“It’s an engine-less week ahead,” down or up, “until we have [l’indice des prix] ICC on Friday,” Art Hogan said.
The New York market is already looking towards this indicator which will give the evolution of prices in the United States in May and should provide information on a possible slowdown in inflation, likely to guide American monetary policy. .
A sign of investors’ lack of enthusiasm, the vast majority of shares have moved within tight margins, while Wall Street has been distinguished for months by exceptional volatility.
Twitter suffered (-1.49% to 39.56 dollars), after Elon Musk again accused the management of the social network of “(resisting) actively” to his requests for information on fake accounts and spam, this time in an official document filed with the regulator.
The entrepreneur says he reserves the right to give up the acquisition of the San Francisco group if the situation persists.
Amazon was sought after the division by twenty, announced in early March (+1.99% to 124.79 dollars), of its title, which has become more accessible for small holders.
In the aviation sector, Spirit took off (+7.04% to 22.20 dollars) after JetBlue (+2.10%) reinforced its takeover bid for the airline, increasing compensation in the event of renunciation.
It is higher than that of Frontier (+4.49% to 10.25 dollars), with which it competes to take control of Spirit.
Didi was propelled (+ 24.32% to 2.30 dollars), perked up by information from the wall street journal that the “Chinese Uber” would soon be authorized by the Chinese authorities to accept new users.
The regulator would thus have completed its investigation, which began nearly a year ago on the platform, which will leave the New York Stock Exchange next week.
Many Chinese securities listed on Wall Street have engulfed in the wake of Didi, like JD.com (+6.53%) and Pinduoduo (+5.60%).
The solar energy sector benefited from a bright spot, as the Biden government pledged not to impose new tariffs on imports of solar panel components, however making an exception for China.
SolarEdge Technologies (+2.86%) or Sunrun (+5.94%) were thus on the rise.