The New York Stock Exchange was virtually unchanged in early trading Thursday, oil prices stabilizing and better than expected results released by JPMorgan Chase, the first US bank by assets, were not sufficient to allay the fears of investors.
After a few minutes of trading, the Dow Jones drops 7.87 points, or 0.05%, to 16,143.54. The Standard & Poor’s 500, wider is almost stable at 1890.63 and the Nasdaq Composite drops 0.17% to 4518.53.
Oil prices, if they remain close to their lowest levels in 12 years after eight consecutive sessions of declines are able to climb to 30.40 dollars a barrel for Brent as for US light crude (West Texas Intermediate , WTI).
Wednesday, their fall has contributed to the general decline in the equity markets which led the S & P 500 to finish in the 1,900 points threshold for the first time since late September. In this context, any attempt to rebound is seen as fragile, explained professionals.
“We saw for three days straight: it goes well with the opening and the situation is deteriorating rather quickly as the hours,” said Art Hogan, and, head of market strategy of Wunderlich Securities.
JPMorgan gaining nearly 1%, the market waving a quarterly profit above expectations.
On the downside, the consumer electronics retailer Best Buy lost 2.94% after disappointing sales figures for the period of the holiday season.
The mini-camera specialist GoPro meanwhile fall of 19.2% after an estimated turnover judged disappointing and the announcement of a reduction of 7% of its workforce.
The giant Intel semiconductors (+ 0.18%) is to publish its quarterly after the close of Wall Street.