(New York) The New York Stock Exchange moved in disarray on Friday to end a bad week, on track to record the worst weekly loss in almost six months for the broader S&P 500 index.
The Dow Jones index gained 0.46%, the technology-dominated NASDAQ lost 0.66% and the S&P 500 fell 0.09%.
Four sessions in a row, the indices attempted to open in the green only to end negative or divided, noted Art Hogan of B. Riley Wealth Management.
On Thursday, the Dow Jones closed almost stable (+0.06%) at 37,775.38 points, the NASDAQ lost 0.52% to 15,601.50 points and the S&P 500 lost 0.22% to 5011. 12 points.
The S&P index, the most representative of the market, could at this rate end the week down 2.2%, its worst weekly performance since October.
On Friday, after strikes in central Iran, a calibrated attack attributed to Israel, “Treasuries rose and S&P stocks fell as investors try to assess the rapidly evolving situation in the Middle East.” East,” said the analyst.
He noted, however, that the flight to safe havens had calmed a little after Tehran seemed to want to temper the impact of these limited strikes.
The dollar notably lost ground (-0.23% against the euro at 1.0667 dollars per euro) and bitcoin, the ultimate risk asset, rebounded (+2.25% around 9:55 a.m. local time). ‘East).
“The element of geopolitical uncertainty remains very present in any case, as does that relating to the reduction in interest rates,” summarized Patrick O’Hare of Briefing.com.
He pointed out that one of the central bank’s officials, Neel Kashkari of the Minneapolis branch, a non-voting member of the Monetary Committee this year, “suggested that the Fed could wait until 2025 before lowering rates.”
On the value side, the Netflix stock was penalized (-6.34%) despite good results announced the day before after the close. The streaming leader gained 9 million additional subscribers to bring them to 270 million.
The group, which made a quarterly profit of $2.3 billion, warned that its subscriber gains would be lower in the future and this is what investors have remembered.
Netflix also announced that it would no longer disclose its quarterly subscriber figures.
Competing platforms like Disney (-0.11%) and Roku (-0.63%) lost some ground.
Meta dropped 1.50% after having gained as much the day before following the commissioning of a new version of its generative artificial intelligence assistant Llama 3.
Procter & Gamble (P&G) lost 1.91% despite the publication of improved quarterly results, supported by new price increases which allowed it to raise its profitability target for the year. Sales at the maker of Gillette razors and Pampers diapers were a little weaker than expected at $20.2 billion.
The American Express credit card group, on the other hand, was in demand, climbing more than 3%. More new customers and increased spending boosted the financial group’s profits, up 34% year-on-year.
Shares of media company Paramount Global soared as press reports suggested Sony was interested in joining an offer to purchase the entertainment group with investment company Apollo.
Paramount shares, which own the American channels CBS and MTV, jumped 9.70%.
On the bond market, ten-year rates were almost stable at 4.62% compared to 4.63% the day before.