(News Bulletin 247) – Wall Street ended Friday’s session in scattered order, against a backdrop of renewed uncertainties about China: the Dow Jones gained less than 0.1% to 34,501 points, but the Nasdaq Composite lost 0.2% to 13,291 points.
Chinese real estate giant Evergrande has filed for Chapter 15 protection under the US international bankruptcy law, adding to recent disappointing macro data from China.
Fears for the health of the world’s second-largest economy helped fuel the risk aversion that dominated all week, amid also ‘rate hikes, low summer liquidity and a buyers’ strike’, according to Barclays.
On the values ​​front, Applied Materials gained 3.7%, the day after the publication, by the equipment manufacturer for the semiconductor industry, of performance at the top of its forecasts for its third accounting quarter.
John Deere, on the other hand, dropped 5.3%, despite a further increase by the manufacturer of agricultural and construction machinery of its net profit target range for the 2022-23 financial year, on the occasion of its quarterly publication.
Estée Lauder fell 3.3%, the cosmetics group having announced sharply lower results for its last quarter of 2022-23, despite revenues up very slightly thanks to a vigorous increase in sales in Asia-Pacific.
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