Wall Street almost stable in a volatile market

Wall Street quasi stable dans un marché volatil

NEW YORK | Wall Street ended close to the balance on Thursday after a session volatile, investors are digesting economic data from the u.s., a new surge of oil and of information on the failure of a clinical trial of an antiviral to combat the sars coronavirus.

The index feature of Wall Street, the Dow Jones Industrial Average, climbed 0.17 % to 23 515,26 points.

The Nasdaq, in high coloring technology, has yielded 0.01 %, 8 494,75 points, and the index expanded S&P 500 fell 0.05 % to 2 797,80 points.

Indices in new york had started the session sharply higher after figures from the department of Employment showing that 4.4 million new registrations in the unemployment in the United States last week.

These figures are very high and reflect the scale of the crisis due to the coronavirus, but they mark a decline compared to the previous week and were close to market expectations.

The ranking of other indicators, sales of new homes in the United States have fallen in the month of march (-15,4 %), while the pandemic Covid-19 from spreading in the country, according to data from the department of Commerce.

Wall Street had also taken advantage of the net prices of the black gold with the resurgence of tensions between the United States and Iran and in spite of the low consumption of black gold.

But the New York stock Exchange, has erased most of its gains in the afternoon after the information according to which the american laboratory Gilead Sciences (of which the course has lost 4,34 % on Thursday) was not able to effectively treat patients with Covid-19 in a clinical trial of the antiviral remdesivir.

A summary of the results of this trial has been published by mistake, before being removed, on the site of the world Health Organization (WHO), reported the Financial Times.

“The market has understood that there would be no vaccine quickly, but it is hoped that we will find treatments to combat the coronavirus, says Gregori Volokhine of Meeschaert Financial Services.

“It is at the end of a rebound and it takes a second breath,” said Mr Volokhine, noting that Wall Street was completed last Friday its second week of consecutive rise.

“This second breath will come from positive news on the end of the containment or positive news on the level of treatment,” believes the expert.

On the bond market, the rate on 10-year u.s. Treasury bills declined compared to the previous day, settling at 0,596 8 % against 0,619 0 % Wednesday night.

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