(News Bulletin 247) – The rise prevails on Wall Street after a rather calm session… but it is the 4th consecutive rise for the Nasdaq (+0.48%), for the S&P500, and the Dow Jones pulls out of the red zone to grab +0.11
The Nasdaq’s gains could have been much more substantial given the after-hour gains for Salesforce (+5.5% on an upward revision to its targets after +1.5% in session) and for Okta (+11 % on results above expectations).
Otherwise, the locomotives of the day were Apple +1.9%, Micron +2.1%, Intuitive Surgical +2.8%.
Wall Street reacted little to the statistics of the day which did not impose themselves as ‘game changers’: job creations in the private sector in the United States fell by half in August.
ADP has identified only 177,000 new hires due to the fall in job creations in the hotel and catering industry (to only 30,000), after the strong hiring in this sector in the previous months.
The ‘NFP’ which will be published on Friday could confirm a ‘worse hit’ on the labor market, enough to encourage the FED to pass its turn on September 20 and then at the beginning of November.
The second figure of the day was that of US real GDP for the second quarter of 2023: it stands at 2.1% at an annualized rate, according to a second estimate from the Commerce Department, which had announced it at 2.4%. at first reading, after a rate of 2% observed in the first quarter.
In addition, the rise in the PCE price index (still at an annual rate) for the second quarter has been revised down by 0.1 point, to +2.5% annualized in raw data and to +3.7% in ‘core’ data (excluding food and energy prices).
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