(News Bulletin 247) – Wall Street ended without direction on Friday, but the weekly balance sheet was largely positive with +2.5% overall for the S&P500 (-0.1% this Friday).
The Nasdaq fell 0.2% over the past session, but maintained a +3.15% lead for the week, while the Dow Jones lined up a fifth consecutive session up with +0, 33% (+2.3% in total) and overtook 34500, its best close since the end of November 2022 (or mid-April 2022).
US export values ​​have been supported over the past 48 hours by a still weak dollar, which still yielded a few fractions (the Euro tested 1.1248 and ended the week at 1.1230, or +2.4% on a weekly basis ).
The dollar-index sank below the 100 threshold, with a new annual low recorded at 99.60, before a timid jump of 0.13% towards 99.90.
On the bond side, the T-Bonds tightened towards 3.8320% despite the 0.2% decline in import prices in the United States (after a drop of 0.4% in May), while the prices exports decreased by 0.9% (after a fall of 1.9%).
On an annual basis in June, the US Department of Labor reported a fall of 6.1% (-1.4% excluding petroleum products) in import prices and 12% (-12.4% excluding agricultural products) export prices.
The latest figure for the day and the week was surprisingly strong: US consumer confidence improved sharply in July, according to the UMich index which stood at 72.6 as a preliminary estimate, compared to 64. .4 for the previous month.
This Friday also marked the real kickoff of the quarterly publications of several heavyweights of the rating.
Bad surprise for Citigroup (-4%) with falls of 36% of its profit in the second quarter, 13% of income from trading and 24% of income from investment banking.
On the other hand, JPMorgan Chase (+0.7%), very involved in the rescue of regional banks with the Fed, posted a 67% increase in its net profit, despite provisions for credit losses increased by 27%, its revenues increased by 8%.
BlackRock (-1.6%) posted a 25% rise in profit, boosted by gains in its investment funds and growing ETF activity. However, the market was hoping for slightly more sustained growth in turnover (a slight decline despite bullish markets).
Among the main variations observed within the Nasdaq and the ‘S&P’, Peloton fell by almost -10%, Lucid Group by -5.9%, Moderna by -4%, Analog Devices by -3.2%, Cisco and Intel by -2.1%.
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