How major USA stock indexes fared Wednesday

06 Décembre, 2019, 10:36 | Auteur: Auguste Feret
  • SCARSDALE NY UNITED STATES- 2018/07/31 The Children's Place store in Scarsdale New York

The S&P 500 is up 605.91 points, or 24.2%.

Health care and financial stocks were among the biggest winners Wednesday as traders became more hopeful that a trade deal between the USA and China was making progress.

"It's possible we start to see an easing in the jobs market", Mr. Galy said.

"The trade war will be the key driver of sentiment in the immediate few weeks", DBS Group analysts wrote in a report.

They're also looking for more clarity on the health of the economy.

Benchmark crude oil lost 21 cents to $58.22 per barrel in electronic trading on the New York Mercantile Exchange.

The S&P 500 index rose 4.67 points, or 0.2%, to 3,117.43. Despite recovering some losses, the index is still down 0.9% for the week.

At midday, the Dow Jones Industrial Average declined 33.99 points, or 0.12 percent, to 27,615.79. The Russell 2000 index of smaller company stocks picked up 0.94 points, also less than 0.1%, to 1,614.83. Treasury prices and yields move in opposite directions. It was at 1.83% on Monday.

USA stock indexes got off to an uneven start this week amid mixed signals on trade. On Tuesday, he proposed tariffs on $2.4 billion in French products in retaliation for a tax on global tech giants including Google, Amazon and Facebook.

US President Donald Trump announced on Monday that he will "restore" tariffs on steel and aluminum imported from Brazil and Argentina, drawing wide concern domestically and overseas.

Rising bond yields helped steady banks.

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Data released on Wednesday showed that the US services sector, which makes up the bulk of the economy, grew at a surprisingly slow pace.

Investors now look to Friday's employment report from the US Labour Department, which is expected to show an increase of 180,000 nonfarm payrolls in November. Job growth has been a strong part of the economy and the report raises doubts ahead of the Labor Department's more comprehensive update. The choice got here after France launched a digital provider tax, which the US argues treats American tech corporations unfairly.

Traders shrugged off the mixed economic data Wednesday.

Gains were primarily concentrated in materials, information technology and financials stocks. Halliburton rose 4.2%, and Devon Energy added 4.6%. Brent crude, the global standard, rose $2.18, or 3.6%, to $63.

Washington's threat to hit French products with tariffs over a taxation dispute concerning large United States tech companies also fueled turmoil in the stock market.

Expedia Group climbed 6.2% after the company shook its leadership and expanded its stock buyback program.

Nike gained 1.8 per cent following Goldman Sachs' upgrade of the sportswear maker's stock to "buy" from "neutral".

Gold rose $2.90 to $1,476.90 per ounce, silver rose 14 cents to $16.94 per ounce and copper rose 1 cent to $2.65 per pound.

The dollar fell from 108.74 yen on Thursday to 108.67 Japanese yen. The euro was steady at $1.1107.

That followed comments from President Trump who had suggested earlier in the week that the talks could continue well into next year, spooking investors and pushing major indexes lower.

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