(New York) The New York Stock Exchange concluded in scattered order on Monday around the balance, wait-and-see before the publication of the consumer price index in the United States.
The Dow Jones index gained 0.16% to 34,337.87 points, the NASDAQ, with its strong technological coloring, lost 0.22% to 13,767.74 points and the S
“All attention is focused on inflation” which must be published on Tuesday (CPI index) for the month of October, recalled Jack Ablin of Cresset.
The price index is eagerly awaited, because it is one of the elements which will influence the attitude of the American central bank (Fed) towards rates.
The expected price change would be just 0.1% for the month, thanks in particular to the drop in energy costs. Over one year, it should fall to 3.3% compared to 3.4% the month before.
The week will be followed by the publication of an avalanche of indicators such as producer prices and especially retail sales on Wednesday for the month of October. The September figure was surprising with its strength (0.7%), even causing tension on bond rates. But this time, analysts expect a decline in consumer spending (-0.3%).
At the same time, the quarterly results of large distribution groups will be published, such as Walmart (0.90%), the department store chain Target (-0.95%) and the DIY specialist Home Depot (-1. 31%).
With the consumer under the microscope of investors, several store chains suffered such as Burlington clothing (-3.96%) or Urban Outfitters (-3.25%), Boot Barn (-4.84%) as well as Macy’s ( -2.10%). eBay fell 2.81% to $38.73.
Investors did not seem to have too much trouble digesting the lowering of the outlook for the US debt rating by the rating agency, Moody’s, which fell on Friday after the market closed for the weekend .
Moody’s, the last of the three major rating agencies to maintain a “triple A” rating on U.S. credit, warned that given its growing budget deficit, the country would face “borrowing affordability” difficulties. ”, if there is no “reduction in government spending or increase in revenue.”
For Jack Ablin of Cresset, “the market barely blinked at the news.” “This is the third rating agency to move in this direction. That the rating is on the list to be lowered is not a surprise,” the analyst said.
On the stock market, Boeing soared 4.01% to $204.54 after a series of announcements at the Dubai Air Show.
The American aircraft manufacturer has received an order from Dubai airline Emirates for 95 aircraft worth $52 billion.
Another aerospace sector stock, Spirit AeroSystems, a Boeing supplier that was recently shaken on the stock market, gained 1.94%.
Oil giant ExxonMobil gained 1.05% after announcing its plan to become a leader in the production of lithium, used for electric vehicle batteries, by 2027. The group owns a lithium-rich site in southern Arkansas.
In the bond market, yields on 10-year Treasury bills stood at 4.63% compared to 4.65% on Friday.
The Toronto Stock Exchange closed higher on Monday, thanks to the strength of the energy and information technology sectors, while the major American stock indices finished in disarray.
The composite index S
On the currency market, the Canadian dollar ended the day at 72.43 US cents, according to the specialist site XE.com, up from its average price of 72.36 US cents on Friday.
On the New York Mercantile Exchange, crude oil rose US$1.09 to US$78.26 per barrel, while natural gas rose 16 US cents to US$3.20 per barrel. million BTUs.
The price of gold rose US$12.50 to US$1,950.20 per ounce and copper rose US$8 cents to US$3.67 per pound.
