Wall Street remained trapped in an algorithmic straitjacket: the US indices were unable to amplify their gains, with spreads frozen between -0.1% and +0.2% for more than six hours.

In the end, the S&P500 gained +0.13% to nearly 5,188 and the Dow Jones, +0.08% to 38,884.188 and the Dow Jones, +0.08% to 38,884, while the Nasdaq Composite slumped -0.1% to 16,332, weighed down by Datadog -11.5%, Tesla -3.8%, Microchip -1.8%, Nvidia -1.7%, Microsoft and AMD -1%.

Note the +0.2% of the Russell-2000, which continues to outperform the 'big caps'. To try and see the glass as half-full, the VIX continues to ease (-2% to 13.2), while yields continue to fall.

US T-Bonds are shedding -2.5 basis points of yield to 4.46%, but the 2-year is tightening by one basis point to 4.83%, which means that the inversion of the curve is worsening (a technical warning sign of economic slowdown).

The agenda was devoid of macroeconomic figures, which certainly helped to freeze scores, and the wave of quarterly earnings is drying up, with the latest results no longer providing any real impetus.

The session was marked above all by the fall of Disney, which dropped nearly 10% with the publication of a sevenfold drop in net income, following an asset write-down following the merger of its Indian television subsidiary with its competitor Viacom18.

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