Wall Street ended without direction, but the encouraging sign was the resilience of the Dow Jones and the S&P500, which had opened lower (but without intensity) and ended up +0.13%.

The Nasdaq retreated -0.4% due to declines by Palo Alto -28.4% (overly "cautious" forecasts for 2024) and Zscaler -14.6%, Mongodb -3.4%, Nvidia -2.9%, Intel -2.4% (despite its intention to overtake Taiwan's TSMC in the high-performance chip segment), AMD -0.9%.
But not all 'technos' ended up in the red, as demonstrated by Analog Device +2.3%, NXP +1.7%, Microchip +1.3%

Shortly after the close, Rivian plunged -13%: vehicle production is proving below expectations, and a modest recovery in profits is expected in early 2024.
But of course, the "climax" of the session was Nvidia's results, which reported sales in line with expectations at $22.1 billion, with a record margin of over 76%.
However, this eagerly-awaited publication ended up being a "non-event" (the share price stabilized at $695 after a roller-coaster ride of 1/4H (+3%, compared with -2.9% at the close): operators are waiting for the press conference to find out more about management's forecasts.
The publication of the FED's "minutes" had little impact on Wall Street (the FED will be patient before cutting rates, which the market has already taken on board), which continued to rally after 8pm, despite the deterioration in T-Bonds, which were down +4pts at 4.318%, close to their annual ceilings.

Copyright (c) 2024 CercleFinance.com. All rights reserved.