Wall Street: a gloomier mood to end the week
At the end of the morning, the Dow Jones was down 0.1% at 44,515.7 points, while the Nasdaq Composite was down 0.1% at 20,047.9 points. The S&P 500 was stable at around 6119.3 points, after briefly hitting a new all-time high of 6128 points.
Friday's decline was due to a fall in oil prices, which weighed on the energy sector, as well as profit-taking on technology stocks following their sharp rise in recent days.
For the week as a whole, marked by the inauguration of the new US President, the Dow Jones gained 2.3%, the S&P 2% and the Nasdaq over 2%.
Despite these flattering results, investors are still asking a number of questions about the evolution of US trade policy and the possible introduction of tariffs.
The economic indicators published this morning did not elicit any particular reaction from the markets.
The University of Michigan's consumer confidence index came in at 71.1 in its final version for January, compared with 74 in December, whereas the initial estimate was 73.2 and economists were expecting 73.
Growth also slowed markedly in the private sector in January, according to S&P Global, whose composite PMI index came in at 52.4 in flash estimates, compared with 55.4 in final data last month.
The morning's results from listed companies also failed to inspire much enthusiasm.
American Express, the Dow's biggest decliner, fell 3% after reporting a performance broadly in line with analysts' expectations.
Boeing was down 0.5% after preliminarily forecasting negative operating cash flow of $3.5 billion for Q4.
On other markets, the yield on 10-year Treasuries, the benchmark for the US bond market, fell back to 4.61%, compared with 4.66% yesterday morning.
Uncertainty surrounding Donald Trump's trade policy continues to penalize the dollar, allowing the euro to return above the 1.05 mark for the first time since mid-December.
US light crude (West Texas Intermediate, WTI) is down 0.2% below $74.5, leading it to head for losses of around 4% on the week.
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