by Lewis Krauskopf, Sruthi Shankar and Ankika Biswas
(Reuters) – The New York Stock Exchange ended in mixed order on Wednesday, with moves at the margins, as investors digested mixed corporate results, with gains from medical technology companies dampened in particular by the decline tech stocks Netflix and Tesla.
The Dow Jones index fell 0.23%, or 79.62 points, to 33,897.01 points.
The broader S&P-500 lost 0.35 points, or 0.01%, to 4,154.52 points.
The Nasdaq Composite advanced for its part by 3.81 points (0.03%) to 12,157.23 points.
While the earnings season began, expected lukewarm by investors, the main Wall Street indices have generally remained stable in recent sessions.
“Corporate earnings are seen as primarily company-specific information and not market information. positive,” commented Art Hogan, chief strategist at B Riley Wealth.
Already down the day before, the CBOE volatility index, considered an indicator of the level of fear on Wall Street, fell during the session to its lowest since November 2021.
Investors scrutinize quarterly results for potential signs of higher operating costs for businesses due to inflation, as well as the impact on consumption, amid fears of an economic bottom American.
S&P-500 companies are expected to report quarterly earnings down 4.8% year on year, according to IBES data from Refinitiv.
On the stock side, Netflix fell 3.2% after post-closing forecasts for the second quarter on Tuesday fell below expectations, weighing on the S&P-500.
Entertainment giant Walt Disney, one of Netflix’s rivals in the streaming business, also fell, down 2.2%.
Tesla, which published its results after the close, fell 2% following a further drop in the price of its vehicles in the United States this year. Among the movements to note in the health sector, the rise of 7.8% of Abbott Laboratories in the wake of the announcement of the resumption of most non-emergency medical procedures, three years after the start of the COVID-19 pandemic.
Intuitive Surgical jumped 10.9% after reporting quarterly revenue and profit that beat expectations.
( Jean Terzian)
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