(New York) After a rollercoaster session shaken by the announcement of strong job creation in the United States, the New York Stock Exchange ended slightly down on Friday, while remaining close to its records.

The Dow Jones index fell 0.22% to 38,798.99 points, the technology-dominated NASDAQ lost 0.23% to 17,133.13 points and the S

The US economy created far more jobs than expected in May with 272,000 hires, compared to 165,000 the month before and 190,000 expected.

Those numbers are in themselves “good news for workers looking for jobs,” said Robert Frick of Navy Federal Credit Union.

But for the stock market, they mean that the labor market is still dynamic, also supported by an increase in wages, which a priori prevents a future reduction in rates from the Fed, the American central bank.

Bond yields jumped after the release, rising to 4.42% from 4.28% for 10-year yields, leading to a larger decline in stock indices in early trading.

This was followed by a surge in the dollar which gained 0.81% against the euro to 1.0802 dollars to the euro, around 3:25 p.m. ET.  

“These employment figures eliminate any chance that the Fed will cut interest rates in July,” said Ian Shepherdson of Pantheon Macroeconomics. He nevertheless continues to bet on a rate cut in September.

Investors were also cooled by the 0.4% increase in hourly wages in May, which was up year-on-year at 4.1% from 3.9%. Wage growth can fuel inflation.

The unemployment rate, measured by a separate survey, rose to 4% instead of 3.9%.  

“This data doesn’t leave the Fed much room to maneuver. It’s a seller’s market at first,” commented Adam Sarhan of 50 Park Investments.

He is already focusing on the CPI inflation index which must be published before the end of the Federal Reserve’s monetary meeting on Wednesday.

“If the CPI is lower than expected, that could open up the possibility for the Fed to cut rates this summer or perhaps the fall,” he said.

At the coast, seven sectors out of the eleven of the S

Within the Dow Jones, consumer-related stocks fell such as the hypermarket giant Walmart (-1.89%), the DIY chain Home Depot (-1.25%) and McDonald’s (-1.74%). ).

After a spectacular 47% surge on Thursday, the viral and highly speculative stock GameStop collapsed 39.36% to $28.23.

The event for the action of video game stores was the streaming intervention on YouTube, for the first time in three years, of the stock marketer Keith Gill called “Roaring Kitty”, at the origin of the movement “meme stocks” – these titles carried by exchanges on social networks.  

During a confused 50-minute intervention where in the background, the GameStop share curve collapsed live, “Roaring Kitty” praised the brand’s restructuring efforts, renewing its confidence in the company in difficulty.

The stock fell after the company announced sales of an additional 75 million shares and disappointing first-quarter results.

Electronic signature company Docusign fell 4.67% after reporting weaker-than-expected guidance for the second quarter even though its first-quarter sales topped expectations at $709 million.

Several medium-sized banks and financial institutions, which have a high exposure to commercial real estate loans, took a nosedive, like First Financial Bancorp (-0.88%) or Old National Bancorp (-1.09%).  

The ratings of these establishments could be lowered, warned the Moody’s rating agency which examines the risks linked to commercial real estate.