(News Bulletin 247) – Wall Street ended down Wednesday evening, the day after an annual high recorded by the S&P 500, the favorable momentum of the last few weeks undeniably starting to run out of steam.

At the end of the session, the S&P 500 was down 0.38%, while the Nasdaq lost -1.3%. The Dow Jones resists with a slight gain of 0.27%.

For the past few sessions, investors have seemed to be in a waiting position, as if looking for the next catalyst likely to drive the market up even further, or on the contrary cause it to stumble.

With a Nasdaq up more than 13% over the last three months, the market appears tired, especially as the uncertainties surrounding the possibility of an imminent entry into recession remain stubborn.

Most major S&P 500 sectors are losing ground with telecoms and technology posting the biggest market declines after their strong spring stock performance.

Energy stocks are benefiting from the strength of oil prices following the announcement of a slight decline in crude oil inventories in the United States last week.

The only important economic indicator of the day, the trade deficit of the United States widened in April, reaching 74.6 billion dollars, against 60.6 billion dollars in March.

On the bond compartment, the yield of ten-year Treasuries is stretching beyond 3.77%.

The greenback did not benefit from the strength of Treasury yields and weakened against the euro, which rose to around $1.07, a week before the Fed’s decision.

As for values, Campbell Soup (-9%) suffered the largest drop in the S&P index following quarterly results slightly better than expected, but annual forecasts below the consensus.

The autonomous driving specialist Mobileye, on the other hand, jumped 3% in the wake of an initiation to the purchase of Canaccord Genuity, which welcomes the group’s prospects.

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