New York Stock Exchange (NYSE)
by Stefano Culp
NEW YORK (Reuters) – The New York Stock Exchange closed lower on Thursday as a flurry of macroeconomic data released in the United States did nothing to change expectations of another strong interest rate hike by the Federal Reserve next year. week to fight inflation.
The Dow Jones Industrial Average fell 0.56%, or 173.27 points, to 30,961.82 points.
The broader S & P-500 fell 44.66 points, or 1.13%, to 3,901.35 points.
The Nasdaq Composite, with a strong technological component, dropped by 167.32 points (-1.43%) to 11,552.36 points.
While the rise in bank stocks with the prospect of a further rate hike helped to limit the decline in the Dow Jones, the decline of digital giants such as Apple (-1.9%) and Microsoft (-2.7%) has instead particularly weighed on the Nasdaq.
Indicators released Thursday provided no argument to invalidate the projected scenario of a three-quarter point hike in the fed fund rate band at the end of the Fed’s next monetary policy committee meeting on Wednesday.
Unemployment claims fell last week, confirming the strength of the labor market, retail sales rose unexpectedly in August, and the “Empire State” activity index fell less than expected for September but the “Fed Philly” fell contrary to expectations.
And if industrial production decreased by 0.2% in August, manufacturing production, for its part, increased by 0.1%.
In values, Humana health insurance gained 8.4% after increasing its annual profit forecast on the back of lower-than-expected costs since the start of the year.
The software publisher Adobe, on the other hand, fell 16.8% after the announcement of the acquisition of Figma as part of an operation that values the collaborative design platform around 20 billion dollars (other euros).
The announcement of a draft agreement between employers and trade unions in the rail transport sector, which is expected to avoid a massive strike from Saturday, allowed companies Union Pacific (+ 0.2%) and Norfolk Southern (+0.35). %) to resist the downturn in the stock markets.
(Report by Stephen Culp in New York, with Ankika Biswas in Bangalore, French version Bertrand Boucey)