Wall Street managed to close in the green Wednesday, having long sought its trajectory in afternoon trading.
The Dow Jones finishes practically stationary, and it’s pretty much the same for the S&P 500, while the NASDAQ Composite is a little better, as macroeconomic fears prevented those who were on the lookout for good deals from giving their full extent.
The Dow Jones index gained 18.78 points, or 0.08% to 23,346.24 points. The broader S & P 500 gained 3.18 points (0.13%) at 2510.03 points. NASDAQ Composite advanced 30.66 points, or 0.46% to 6665.94 points.
The New York Stock Exchange had started the first session of the year in sharp decline, the risk aversion, which was already sensitive in Asia and Europe, having spread to US places, before rising and then hesitating on the instructions.
Signs of a global economic slowdown were particularly evident in the Chinese PMI Caixin / Markit, which revealed a first contraction in 19 months of manufacturing activity in China.
These same PMI indices then highlighted a growth in manufacturing activity in the euro zone, but weak.
In the economic slowdown, we must add the fallout from the Sino-US trade conflict, which is destabilizing companies.
All this comes as the market expects, for the United States, the ISM manufacturing index and weekly jobless claims tomorrow Thursday, the employment statistics of December Friday then, during the month, the new publication period quarterly business results.
In the meantime, the partial paralysis of US federal administrations is on its 12th day. The Senate and House of Representatives, which is back to school after a short break for New Year’s Day, met briefly on Wednesday to close the 2017-2018 legislature from the November 2016 elections that brought Donald Trump to power. and the Republicans.
The president said that this partial paralysis of the government could continue for a while.
After last year’s poor performance, “equities are cheap and investors want to run their money in this new year,” Bucky Hellwig (BB & T Wealth Management) said, adding that The federal government could be more sympathetic than last year and moves could build on trade talks between Washington and Beijing.
Tesla dropped 6.8% as the electric car maker delivered less Model 3 than expected in the fourth quarter and reduced the price of all its vehicles in the United States, as a result of the revision of an advantageous tax mechanism for green cars.
The Market In Europe
The European stock markets, which had all started sharply lower in the first session of 2019, finished in a disorganized Monday, the general movement of retreat in the face of new signs of slowing global growth has significantly eased with the gradual rise of US indices and the oil rebound.
In Paris, the CAC 40 finished down 0.87% (-41.3 points) to 4689.39 points after a low to 4606.2 points (-2.63%). In London, the FTSE 100 shot 0.09% and in Frankfurt, the Dax ended up gaining 0.2% after spending most of the day in the red.
The EuroStoxx 50 yielded 0.27%, the FTSEurofirst 300 0.2% and the Stoxx 600 0.13%.
Kajal Khatri is one of our senior news editors. Kajal graduated from IGNOU in 2010 with a degree in Business Management. She likes social media trends, being semi-healthy, and trying new foods. When she isn’t writing, Kajal loves to travel. She recently visited NYC in America.