(News Bulletin 247) – Penalized by renewed concern about the state of health of the Chinese economy, Wall Street fell quite sharply on Tuesday: the Dow Jones fell around 1% to 34,946 points, while the Nasdaq Composite dropped more than 1.1% to 13,631 points.
Latest figures in a disappointing series from China, industrial production saw its growth decelerate to +3.7% year on year in July, while retail sales, up only 2.5%, are also came out below the consensus.
Investors also learned that China’s central bank has decided to cut the interest rate on its medium-term credit facility for the second time in three months to stimulate activity, illustrating the concern of local authorities. .
“Disappointing July activity data, sub-zero inflation and renewed concerns over the real estate and shadow banking sectors heighten the urgency for policymakers to act quickly,” Commerzbank commented.
The indicators of the day in the United States did not make it possible to raise the morale of market participants: retail sales certainly increased by 0.7% in July, but the ‘Empire State’ activity index of the New York Fed plunged to -19 in August.
On the values ​​front, Home Depot gained about 0.7%, the home improvement chain having announced a new share buyback program of 15 billion dollars, on the sidelines of the publication of its quarterly results.
Nvidia advanced 0.4%, supported by favorable talk from analysts at UBS and Wells Fargo ahead of the release of the second-quarter results from the maker of graphics processors, cards and chips next week. .
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