(New York) The New York Stock Exchange ended without a clear direction on Wednesday after a volatile session, marked by lower than expected inflation in the United States and rather strong corporate results.
Posted on February 10, 2021 at 9:48 a.m.
Updated at 4:15 p.m.
The flagship index, the Dow Jones Industrial Average hit a new high, rising 0.20% to 31,437.80 points.
In contrast, the technology-heavy NASDAQ fell 0.25% to 13,972.53 points and the broader S&P 500 index dropped 0.03% to 3,909.88 points.
Market players digested early in the session the figures for US inflation in January, which accelerated by 0.3%, less than the + 0.4% expected by analysts.
The price hike is on everyone’s mind right now due to the accommodating policy of the Central Bank (Fed), which floods markets with liquidity, and Joe Biden’s proposal to push through an economic bailout quickly. of 1900 billion dollars.
In a speech Wednesday, Fed Chairman Jerome Powell assured that his institution would stay the course despite fears of accelerating inflation and an overheating economy.
Mr. Powell also estimated that the American job market was “very far” from being solid and that it could take years before returning to full employment before the pandemic.
Investors also followed the results of several large listed companies on Wednesday.
The American soft drink giant Coca-Cola (-0.20%), a member of the Dow Jones, has exceeded market expectations and has been optimistic about the future, but its sales and profits in the 4e quarter of 2020 have declined.
Twitter also did better than expected with revenue of $ 1.3 billion and net profit of $ 222 million for the network and its tweets. Its stock rose 13.20%.
The specialist in the reservation of cars with driver Lyft recorded losses smaller than expected and generated better than expected revenues. Its stock took 4.79%.
Toymaker Mattel fell 2.07%, despite strong sales at 4e quarter of her dolls, led by Barbie, as well as her Hot Wheels toy cars, during the holiday season.
General Motors (GM) reported strong sales late last year, but the group’s forecasts, affected by the semiconductor shortage plaguing the auto industry, were disappointing, and its stock fell 2.21% .