NEW YORK (Reuters) – The S&P 500 and the Nasdaq ended lower on Friday on the New York Stock Exchange: risk aversion prevailed in the context of the conflict in the Middle East, relegating to the background of the results positive from major American banks.
The Dow Jones index gained 0.12%, or 39.15 points, to 33,670.29 points.
The broader S&P-500 lost 0.50% to 4,327.78 points and the Nasdaq Composite fell 166.99 points (-1.23%) to 13,407.23 points.
Over the past week, the S&P is up 0.45%, the Dow is up 0.79% and the Nasdaq is down 0.18%.
The three major indices of the New York Stock Exchange, in the green at the opening, lost ground after the publication of the Michigan index of household morale, which deteriorated more than expected in October.
Investors also had their eyes fixed on the situation in the Middle East and the risks of escalation after the Hamas attacks against Israel and the massive response of the Israeli army in the Gaza Strip.
Driven by a surge in crude prices of more than 5%, energy posted the largest increase in the S&P sector indices. Defense values ​​and community services were also sought after.
The market welcomed the results of major banks JPMorgan Chase, Wells Fargo and Citigroup, whose increase in quarterly profits, driven by that of interest rates, exceeded analysts’ expectations.
The S&P 500 banking index closed with an increase of 0.6% after reaching +3.4% during the session, at a three-week high.
(Sinéad Carew, Shashwat Chauhan and Ankika Biswas in Bangalore, Jean-Stéphane Brosse)
Copyright © 2023 Thomson Reuters
I have over 8 years of experience working in the news industry. I have worked as a reporter, editor, and now managing editor at 247 News Agency. I am responsible for the day-to-day operations of the news website and overseeing all of the content that is published. I also write a column for the website, covering mostly market news.
