PARIS (Reuters) – The New York Stock Exchange opened in mixed order on Friday, with low spreads for the moment, as the session could be volatile due to the “three witches” and in anticipation of new economic indicators after the disappointing statistics from the day before which reinforced fears of a recession.
In early trading, the Dow Jones index lost 13.44 points, or 0.04%, to 33,773.18 points. The Standard & Poor’s 500, wider, however rose 0.06% to 4,132.55 points.
The Nasdaq Composite lost 0.01%, or 0.81 points, to 12,058.74.
This Friday marks the “three witches” day corresponding to the expiration of derivatives, which generally leads to some volatility in the financial markets.
Awaiting the publication at 1:45 p.m. GMT of the PMI indices for April, concerns about a recession in the United States increased on Thursday with the publication of the Conference Board’s leading economic index, which fell to its lowest since November. 2020, the drop in home resales in March, and the “Philly Fed” activity index which plunged to its lowest level in nearly three years.
In terms of corporate results, Tesla and AT&T disappointed on Thursday, the former reporting a quarterly gross margin below expectations amid falling prices, the latter publishing worse-than-expected revenue. Tesla, however, resumed 0.34% on Friday, the automaker having decided according to its website to increase the price of its high-end Model S and Y electric vehicles in the United States.
In the publications of the day, Procter & Gamble Co gains 3.34% and HCA Healthcare 8.09%, the two groups having raised their annual financial forecasts.
Investors are also eyeing the US Federal Reserve which meets May 2-3 as a speech by Fed Governor Lisa Cook is scheduled for the day ahead of the quiet period preceding the meetings of the Fed. US central bank. A further 25 basis point rate hike from the Fed is expected next month.
(Written by Claude Chendjou, edited by Blandine Hénault)
Copyright © 2023 Thomson Reuters
I have over 8 years of experience working in the news industry. I have worked as a reporter, editor, and now managing editor at 247 News Agency. I am responsible for the day-to-day operations of the news website and overseeing all of the content that is published. I also write a column for the website, covering mostly market news.