Wall Street worried by uncertainty about trade

New York – The New York Stock Exchange ended on an unorganized Friday as investors leaned for restraint as they approached a long weekend as the prospect of an approaching trade agreement between the United States and Canada would continue.

The flagship of Wall Street, Dow Jones Industrial Average, lost 0.09 percent to 25,964.82 points.

The Nasdaq, with a strong technological color, gained 0.26% to 8,109.54 points.

The broad S & P 500 index increased by 0.01% to 2,901.52.

The exchanges were particularly animated Friday by the various twists in the negotiations between Canadians and Americans to modernize the North American Free Trade Agreement (Alena).

The New York indexes then attacked the Canadian Foreign Minister Chrystia Freeland halfway through the day that the negotiators had not yet reached a compromise.

The authorities of both countries finally announced shortly before they decided they had not reached an agreement and that the talks would resume next week.

"We will get a better idea of ​​what this means for the markets when everyone returns to his office"Tuesday," said Maris Ogg from Tower Bridge Advisors.

Trade volumes were very low on Friday as the long weekend of Labor Day, Monday a holiday in the United States, was looming and many brokers had left the real estate agencies, she said.

This lack of major breakthroughs between Washington and Ottawa contributes useless signals about the easing of trade strains between the United States and its other major trading partners.

– Amazon takes the footsteps of Apple –

According to the Bloomberg agency, Donald Trump would like to introduce a new batch of customs taxes next week for $ 200 billion of Chinese products imported into the United States.

The tenant of the White House also ruled Thursday in an interview with the agency that the offer of the European Union to reduce tariffs for US car imports was not enough. Commission President Jean-Claude Juncker said on Friday that the European Union would respond to American car taxes.

For Quincy Krosby from Prudential, the reaction of hints of shock during trade negotiations is not a surprise on Friday "since the market has reacted a lot since the beginning of the week on all headlines about trade".

The Nasdaq and the S & P 500 have risen to unprecedented levels following the closure of Monday of an agreement in principle between Washington and Mexico.

During the week, the Dow Jones gained 0.7%, Nasdaq 2.1% and S & 0 500 0.9%

The bond market tightened: the ten-year interest on US debt rose to 20:57 GMT to 2,857% against 2,855% at the end of Thursday, and 30-year yields to 3,017% against 3,003% a day earlier.

In the securities field, American Outdoor Brands, formerly known as Smith & Wesson, increased by 43.60% after reporting stronger quarterly results than expected.

Yoga clothing specialist Lululemon jumped 13.09% after announcing encouraging results, including an increase in turnover of 24% and an upward revision of the annual prognoses.

Coca-Cola drinks giant declined by 0.85% after the announcement of the purchase of the British coffee chain of $ 5.1 billion.

The supermarket chain Walmart sold 0.25%. In the wake of the closure of Toys & # 39; R & # 39; Us expects to increase its range of toys in its stores by 30% and online by 40%.

The Amazon e-commerce giant rose 0.52%, giving it a market capitalization of approximately $ 981 billion. The company could be the second US group, after Apple, to exceed the symbolic figure of $ 1,000 billion on the stock market.


Source link

Leave a Reply