(CercleFinance.com) – Wall Street has benefited from some targeted buyouts after falling -3% on Friday, following the risk of renewed trade tensions between the United States and China.
The Dow Jones posted -1.5% at the start of the session, it finished with a gain of 0.11%, the S & P500 gained 0.42% and the Nasdaq (+ 1.2%) very quickly escaped the initial heaviness thanks to the continued pickup on the 3 ‘titans’ at more than $ 1,000 billion in ‘capi’ that are Microsoft (+ 2.5%), Apple (+ 1.4%) and Amazon (+1.3 %).
Note also the rebound in AMD of + 5.4%, EVertex + 3.8%, Zoom + 3.5%, lectronic Arts + 3.1%, Nvidia + 3% … and Tesla with +9 , 6%, the day after a tweet from Lon Musk deem the title too expensive
The sector that has performed best is that of energy with the rise in oil prices: the barrel of WTI has radically reversed the steam over the hours, between -15% this morning (at $ 18) and + 7% in the end (at $ 21.2).
The sector which suffered the most is the air after Warren Buffet announced to have sold all its lines (for 6 billion $) in this sector and qualified the Boeing file (-1.4%) of ‘too complicated.
United Airlines fell -5.1%, Alaska Air -4.5%, Delta -6.4%
The Dow Jones ends up in the green thanks to Exxon (+ 4%) and Chevron (+ 2.2%), the S & P500 benefited in addition to the rebounds in Valero + 8.3%, Marathon + 7.8%, Apache + 6.9%, Diamondback + 5.5%, Nal Oilwell + 5.4%, EOG + 4.9% ….
The Nasdaq quickly outperformed as it was poorly weighted in industrial values: the Commerce Department unveiled a drop of -10.3% in orders to industry in the United States in March, while analysts were betting on a decline in -9.7%.
But there is worse: orders for durable goods (including cars, machine tools, railway equipment, oil extraction, planes) plunged by -14.7% in March: the Dow Jones is the first hit.
As for the US market depression on Friday, it is not just ‘cyclical’: Wall Street worries about a resumption of Sino-American trade hostilities, Donald Trump presenting this as measures to counteract the lies and falsification of data relating to the internal health crisis by Beijing.
He also accuses Beijing of having allowed the Chinese to circulate (by plane) freely throughout the world (by contaminating most of the countries visited, starting with the United States) when the arrival of foreigners on Chinese soil had been suspended.
He assured last Thursday that he had evidence that the Covid-19 came from the P4 virology laboratory in Wuhan, further fueling the already high tensions between Washington and Beijing.
The American president brandishes the threat of new surcharges against Chinese products and of a ban on investing in Chinese companies included in the major international indices.
– .
