Wall Street retreats after new results and data in halftone

Wall Street recule après de nouveaux résultats et des données en demi-teinte

Wall Street finished in the red Thursday, digesting quarterly results from several big names of the place in new york and indicators mixed on the economic front.

Its index feature, the Dow Jones Industrial Average has surrendered 0.50% 26.734,71 points, recording its first decline in five sessions.

The Nasdaq, in high coloring technology, has dropped 0.73% to 10.473,83 points.

The expanded index S&P 500 has lost 0,34% to 3.215,57 points.

Bank of America (-2,72%)and Morgan Stanley (+2,51%) have concluded Thursday before the Stock market opened the results season in the second quarter for big u.s. banks.

If the first saw its profits are weighted by the money set aside to deal with potential unpaid to its customers, the second on the other hand has generated revenues and profits in record time thanks to his intense activity on the financial markets and in the investment bank.

The group’s pharmaceutical and hygiene products Johnson & Johnson (+0,67%), which was launched in the race for the vaccine against the COVID-19, for its part saw its results decline in the second quarter due to the pandemic, but has revised its goals to increase slightly.

Market players are now looking towards other sectors including the big names must make state of their health check quarterly, starting from the values of technology.

For Art Hogan of National Securities, “it is unlikely that the tech achieves extraordinary performance in the second quarter, as the expectations were huge,” after the very strong stock market of the sector during the pandemic Covid-19.

As if to confirm this intuition, the action of Netflix went down dramatically by more than 10% in electronic trading after the close, while the giant of the streaming posted profits less good than expected between April and June.

The statistics on the health of the u.s. economy released on Thursday, have been mixed.

The number of new unemployed weekly in the United States remained practically stable, with 1.3 million people who registered between 5 and 11 July. And according to data published with one week of lag, the total number of benefit recipients was also slightly lower: 17.3 million Americans were receiving unemployment benefits during the week ended July 4.

Retail sales in the United States grew 7.5% in the United States in June, advancing for the second consecutive month after three months of decline as a result of the containment measures.

On the bond market, the rate on 10-year u.s. debt have fallen to 0,6170% to 20: 30 GMT, against 0,6299% Wednesday evening.

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