(News Bulletin 247) – The New York Stock Exchange fell Thursday under the impact of the plunge of several big names in the rating in the wake of their results, as well as disappointing statistics. The Dow Jones fell 0.3% to 33,787 points and the Nasdaq Composite fell 0.8% to 12,060 points.

A string of worse-than-expected corporate results seemed little cause for optimism, starting with Tesla, whose stock tumbled 9.7% on disappointing margins, dragging its Ford peers in its wake (- 2.9%) and GM (-3%).

“This margin compression and price reduction narrative will need to be managed with caution over the next few quarters, now emerging as a clear cloud over the title,” Wedbush reacted after the electric car manufacturer’s publication.

Another unexciting publication, AT&T fell by 10.4%, the telecom operator having announced that its free cash flow had dried up sharply in the first three months of the year, with a division by more than two.

To a lesser extent, investors also punished the quarterly publications of credit card supplier American Express (-1%), aluminum manufacturer Alcoa (-2.4%) and tobacco group Philip Morris (-4 .7%).

At the same time, the economic indicators of the day did not encourage investors to take risks, like the Philadelphia Fed index which plunged to -31.3 in April after -23.2 in March , to return to its lowest level since May 2020.

In the same negative vein, the Conference Board’s index of leading indicators continued to decline in March (-1.2%), returning to its lowest level since November 2020, thus reinforcing the scenario of a recession in the months coming.

Disappointment also on the side of sales of existing homes in the United States, which fell by 2.4% last month compared to February, while their median sale price fell by 0.9% over one year, to 375,700. dollars.

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