PARIS (Reuters) – The New York Stock Exchange opened down on Thursday, the euphoria aroused by the Sino -American provisional agreement on trade having faded when investors are dying a series of macroeconomic indicators and a speech by the President of the American Federal Reserve (Fed) calling for a revision of the Central Bank’s strategy.
In the first exchanges, the Dow Jones index lost 189.70 points, or 0.45%, at 41,861.36 points.
Standard & Poor’s 500, larger, fell from 24.87 points, or 0.42%, to 5,867.71 points.
The Nasdaq Composite gives in 129.71 points, or 0.68%, to 19,017.10 points.
An hour before the opening of Wall Street, the market became aware of several American indicators showing a stagnation of unemployment registration last week, a surprise contraction of production prices (PPI) in April, an unexpected increase in retail sales in April and an improvement in activity conditions in the Philadelphia region in May.
These contrasting statistics are published while the hypothesis of an inflation resurgence and a recession in the United States remains on the table, despite the truce on customs duties signed by Washington and Beijing.
In an inaugural speech to the Thomas Laubach Research Conference, the president of the Fed, Jerome Powell, stressed that the world had changed since 2020 and that the Central Bank’s strategy should therefore adapt to the new situation while tenders associated with price increases could become more frequent in the coming years.
Another concern for the economy, Walmart, considered a reliable consumption barometer, said on Thursday that it would start to increase its prices during the month due to the high cost of customs duties. The distribution giant sells on the stock market 4.8%.
In other values, United Health fell by 13.24% after revelations from the Wall Street Journal concerning a survey by the United States Department of Justice (DoJ) on possible medication fraud.
Cisco Systems advances 3.71% in favor of the recovery of its annual forecasts and the appointment of Mark Patterson to the post of financial director.
Foot Locker flies 83.41%, the Wall Street Journal reported that Dicks Sporting Goods (-11.62%) was about to buy the group for around 2.3 billion dollars.
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(Written by Claude Chendjou, edited by Blandine Hénault)
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