Friday, October 21, 2016

Between the dollar and strong results, Wall Street ends without direction – Boursorama

when In doubt, Wall Street opens down ( GETTY IMAGES NORTH AMERICA/AFP/Archives / SPENCER PLATT )

when In doubt, Wall Street opens down ( GETTY IMAGES NORTH AMERICA/AFP/Archives / SPENCER PLATT )

According to the final results, the index featured Dow Jones Industrial Average has lost 16.64 per points to 18.145,71 points, while the Nasdaq, to dominant technological, increased by 15,57 points to 5.257,40 points. The expanded index S&P 500 has lost of 0.18 point, or 0.01%, 2.141,16 points.

This has been “a session of exchanges based on the results of companies because there was no economic news,” said Peter Cardillo, chief economist of First Standard Financial Company.

“The technology sector advance with Microsoft, a member of the Dow Jones, which easily beat expectations, although the index has been hampered by the disappointing results from General Electric,” noted the analysts of Wells Fargo.

Microsoft has jumped 4.26% to 59,69 dollars, surpassing its previous highest dating back to before the bursting of the financial bubble. The it group has announced quarterly results better than expected, despite a decline in net income and a stagnation of its turnover

conversely, the industrial conglomerate General Electric (-0,31% at 29.98 usd), changing technology, suffers from the weakness of growth and ongoing challenges in the oil and gas sector, which affect the demand for its products.

beyond these two companies, a general feeling of anxiety has spread about the level of the dollar has continued to strengthen.

This “penalizes exporters for the u.s., adds to the repayment of the debt denominated in dollar and emerging markets weighs on the earnings outlook for multinational companies in the u.s.”, said in a note to Patrick O’hare of Briefing.

The greenback has been increasing since the beginning of the month against most foreign currencies, as and to the extent that the conviction of a rate hike from the u.s. federal Reserve (Fed) in December is growing stronger among analysts.

The bond market was rising. Towards 20: 20 GMT, the yield on Treasury bonds to 10 years decreased to 1,734%, compared to 1,754% Thursday evening, and that bills to 30 years, 2,486%, compared to 2,503% previously.


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