Wednesday, November 23, 2016

Wall Street hesitates, pausing before Thanksgiving – Boursorama

Wall Street ends without trend ( AFP/Archives / TIMOTHY A. CLARY )

Wall Street ends without trend ( AFP/Archives / TIMOTHY A. CLARY )

According to the final results, the index featured Dow Jones Industrial Average took 59,31 points to 19.083,18 points, again to an unprecedented level after you have finished for the first time the day before to over 19,000 points. A dominant technology, the Nasdaq, also at the highest the day before, fell 5,67 points to 5.380,68 points.

The expanded index S&P 500 has advanced 1.78 point, or 0.08% to 2.204,72 points, beating the record.

“We stayed close to balance today”, a summary Bill Lynch of Hinsdale Associates. “The volumes were limited, with many investors already on vacation.”

Wall Street will remain closed Thursday for Thanksgiving (“thanksgiving”) and will reopen on Friday for a session shortened by half.

Dozing through this perspective, the New York stock Exchange has yet made in the face of “news items,” said Mr. Lynch, the judging on the whole favorable.

investors have been made aware of good indicators, including a jump in orders for durable goods last month and a net increase in the morale of households this month.

of Course, they have also digested a rise in weekly jobless claims and a decline in sales of new homes for October, but have seemed to put into perspective of statistics, which did not appear as a reversal of positive trends.

Finally, “the minutes of the federal Reserve (Fed) have been published and (…) suggest that consensus reigns on a rate increase at its December meeting,” said Mr. Lynch, with reference to the minutes of the previous meeting of the central bank.

This idea has nothing to surprise investors who are optimistic now most of this perspective, in particular since the election of Donald Trump to the american presidency.

Not only the intentions of the stimulus of Mr. Trump seem to leave the Fed the scope to tighten more quickly the policy face the risk of inflation, but they have played a large role in the last two weeks to boost Wall Street to records.

as such, on Wednesday, the industrials and financial, to the increased presence in the Dow Jones, have recorded good performance, so that sectors such as technology and health were lagging behind, explaining the performance divergence between the indices.

“It seems rather to indicate that there is a focus on the u.s. economy”, the business values have a tendency to take advantage of favourable market conditions by contrast, in sectors that are less exposed such as the technology, ” said Jack Ablin, BMO Private Bank.

The bond market fell. To 21H20 GMT, the yield on Treasury bills to 10 years amounted to 2,355%, as against 2,316% Tuesday night, and one of the good 30 years to 3,021% compared with 3,004% previously.


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