(News Bulletin 247) – The New York equity indices started the week in scattered order: the Dow Jones fell nearly 0.2% to 33,619 points, but the Nasdaq Composite – with a strong technological component – advanced symmetrically to 12,257 points.
‘The big lesson from the earnings season is that ‘Big Tech’ is doing well’, underlined Dan Ives, the star analyst at Wedbush Securities, for whom the sector could still progress by an additional 10 to 12% here at the end of the year.
A certain wait-and-see attitude nevertheless prevailed on Monday, before the publication in the coming days of American inflation figures for the month of April, with consumer prices (Wednesday), then production prices (Thursday) and import (Friday).
Only data for the session, wholesale inventories stagnated in March at a sequential rate in the United States, while their sales fell 2.1%. They needed 1.40 months to sell their stocks, compared to 1.37 months in February.
On the stock front, AMD soared 5.8% on speculation around a possible cooperation with Microsoft to design ‘tailor-made’ artificial intelligence (AI) processing processors.
Estée Lauder gained 1.2% after the New York Post reported a possible interest from activist investor Nelson Peltz in the cosmetics group, which the billionaire is even considering a major restructuring.
Tyson Foods plunged 16.4%, sanctioned for the publication by the agri-food group specializing in meat of a net loss for its second accounting quarter, with sales almost stable.
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