Monday, July 25, 2016

Wall Street flexes with energy in anticipation of the Fed – Boursorama

 * Loss of 0.42% for the  Dow, 0.3% for the S & amp; P, 0.05% for the Nasdaq  (Updated with details, currency and bond of  elements) by Yashaswini Swamynathan and Noel  Randewich NEW YORK, July 25 (Reuters) – Wall  Street finished in the red the first session of  the week in the wake of the energy sector values,  victims of the sharp decline in oil prices, and on  the eve of the monetary policy meeting of the  Federal Reserve. This negative early week comes to  a brake on a rally started on June 27 and which  has advanced 9% Wall Street. No rate change is  expected at the end of the meeting held on Tuesday  and Wednesday but some professionals, minority,  wonder if the resistance of the markets in the  British vote for the “Brexit” and if  the good US economic indicators recently published  will not lead the central bank to raise  expectations for its next meeting in September.  However, traders do assess that 14.7% probability  of a rate hike in September and 38.5% in December,  according to FedWatch tool of CME Group. In such a  context waiting not only the Fed but also the Bank  of Japan (BoJ), which holds meeting on Friday, the  dollar weakened against the yen JPY = and against  a reference currency basket .DXY. Oil prices are  in turn fell to their lowest levels in two and a  half months, the market bottleneck situation still  weighing on sentiment traders. The Dow Jones .DJI  lost 77.79 point (0.42%) to 18,493.06 points. The  S & amp; P 500 .SPx broader yielded 6.55 point  (0.30%) to 2,168.48. The Nasdaq Composite .IXIC  left 2.53 point (0.05%) to 5,097.63. The S &  amp index; P energy .SPNY loses almost 2% stronger  sectoral decline in the session. Nine of the 10  major sector indices of the S & amp; P 500 ended  in the red. Publications this week, high tech  heavyweight Apple AAPL.O alphabet GOOGL.O, and Facebook FB.O AMZN.O will be  scanned, investors poseat questions on valuations  already strained the S & amp; P after its recent  highs. These four companies together weigh 7% of  the S & amp index; P and Nasdaq fifth. Of the  125 company in the S & amp; P 500 that have  released their quarterly far, 68% exceeded the  consensus, more than the usual average of 63%,  according to Thomson Reuters data. Overall,  profits of companies in the S & amp; P 500 are  expected down 3.7% in the second quarter, while  the percentage was 5% at the beginning of the  “season” of the results. “The  second quarter results are more fleshed out than  we would have thought but, for one reason or  another, the market is obsessed with oil prices  today,” said Kim Forrest, Fort Pitt Capital  analyst group. “It looks like the market can  not keep one thought at a time.” “We  are approaching extremes in terms of valuations,  the market tries to catch his breath,” noted  David Schiegoleit (Private Client Reserve of U.S.  Bank). Values, Yahoo YHOO.O sold 2.7% after  Verizon Communications VZ.N had announced the  purchase of its internet activities to $    4.83  billion, thus ending a long and painful process to  auction one pioneer of the web. Verizon has left  0.4%. Sprint S.N surged ahead 27.7%. The fourth US  mobile operator posted sales slightly better than  expected, significant rebates that enabled it to  achieve the best quarter in nine years in terms of  net gain of postpaid subscribers. Apple AAPL.O  lost 1.34% on the eve of the publication of its  quarterly, BGC through having reduced its  recommendation to “sell,” according to  CNBC. Texas Instruments TXN.O gained 1.1%, before  the release of its second quarter results after  the close. The chipmaker reported a profit  increase of 12% in the second quarter and its  shares rose 6% in after-hours trading. Gilead  GILD.O Siences it has sold 3% in after-hours  trading in reaction to a statement. Volume was  light, with about 5.9 billion shares traded, below  the daily average of nearly seven billion of the  last 20 meetings. On the bond market, the yield of  Treasuries in two years reached a peak of 0.731%  four weeks because of a poor auction of paper to  two years, creating a demand that had never been  this low since December 2008. (Wilfrid Exbrayat  for the french service)  

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