(New York) The New York Stock Exchange ended close to equilibrium on Thursday, generally continuing its uptrend, but struggling to maintain the frantic pace at which the market has been advancing since the beginning of February.
Posted on February 11, 2021 at 9:44 a.m.
Updated at 5:11 p.m.
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The flagship index, the Dow Jones Industrial Average, fell 0.02% to 31,430.30 points after peaking the day before at the close.
The NASDAQ gained 0.38% to 14,025.77 points and the S&P 500 rose 0.17% to 3,916.38 points, with the latter two indices setting few new records.
“Investors have digested the new figures for weekly jobless claims, which illustrate how the labor market continues to idle, as well as a series of mixed results,” note analysts Charles Schwab.
The weekly jobless claims were stronger than expected with 793,000 new registrants against 750,000 expected by analysts.
If they are down (-19,000) from previous figures, this is only because last week’s number has been revised up sharply, according to Labor Department data released Thursday.
As for the results, Uber (-3.91%) announced Wednesday evening abysmal losses of 6.8 billion dollars in 2020, which are however lower than those of the previous year.
The chauffeur-driven car reservation specialist also relies heavily on its investments in the field of home food and shopping delivery.
The American agri-food giant PepsiCo (-1.98%) continued to benefit at the end of the year from the renewed interest in its drinks after a low at the start of the pandemic and relies on vaccination to fuel its growth in 2021. But its annual net profit has declined.
“Optimism about the COVID-19 vaccination campaign and the drop in the number of new infections seem to limit the negative factors,” say Schwab analysts.
“In addition, monetary and fiscal policy should remain very accommodative after Fed Chairman Jerome Powell yesterday suggested that the recovery of the labor market requires full attention on multiple fronts,” they continue.
Among the other values of the day, Pinterest rose 7.29%. According to the Financial Times, Microsoft recently approached the photo and interest sharing platform for a buyout, which could amount to $ 51 billion.
The Bumble dating app made a thunderous debut on Wall Street, where its stock climbed 63.51% in its first trading session, settling at $ 70.31. The company is worth just over $ 13 billion on the stock market.
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