Stock market: Wall Street takes a breather before September


(Photo: 123RF)

MARKET REVIEW. The New York Stock Exchange ended the last session of August in a disorganized manner, investors pausing after a month marked by the nervousness and excitement of a market reacting to the trade tensions Sino-US.


In Toronto S & P / TSX Composite Index took 0.35%, or 57 points, to 16,442 points.

The composite index S & P 500 advanced 0.06%, or 1 point, to 2,926 points.

The Dow Jones New York rose 0.16%, or 41 points, to 26,403 points

The Nasdaq fell 0.13%, or 10 points, to 7,962 points.

The Canadian dollar yielded 0.17% to US $ 0.751.

The oil declined 2.87%, or US $ 1.63, to US $ 55.08.

Thegold let go 0.29%, or US $ 4.40, to US $ 1532.50.


Over the whole month, the Dow Jones lost 1.7%, the Nasdaq yielded 2.6% and the S & P 500 dropped 1.8%.

The main New York indices, however, had clearly finished in the green the day before thanks to, among other things, the relative calm on the Sino-US trade front and the hope of a resumption of talks between the two largest economies.

"Investors reap the benefits after several rises and before a three-day weekend in the United States," said Tom Cahill of Ventura Wealth Management.

Wall Street will be closed until Tuesday, Monday, September 2nd being a holiday in the United States because of Labor Day.

"New US tariffs must come into effect on September 1, which makes investors cautious," Cahill said.

A new tariff increase on Chinese goods is due to take effect Sunday in the United States, while Beijing has planned to impose new tariffs on 75 billion US imports.

Investors also reacted on Friday to contradictory economic indicators.

Economic activity in the Chicago area, which contracted in June and July, recovered unexpectedly in August with a sharp recovery in orders, according to the ISM Association's Purchasing Managers' Index .

In contrast, consumer confidence registered a record drop in August due to concerns over the trade war, according to the final estimate of the University of Michigan survey.

In the bond market, the 10-year rate stood at 1.50%, slightly higher than the previous day.

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