Wall Street without direction

Despite a busy news in business, Wall Street stagnated on Monday at the mid-session, as investors questioned their prospects after more than a month rebound: the Dow Jones took 0.04% and the Nasdaq 0.10% .

Around noon, the index Featured Dow Jones Industrial Average gained 7.26 point to 17 609.56 points and the Nasdaq, dominated by technology, 4.82 points 4800.46 points.

The S & P 500, a broader index closely watched by investors, fell by 1.21 points, or 0.06%, to 2048.37 points.

In Toronto, the S & P TSX gained 0.26% or 35.68 points 13 532.75 points.

Since the beginning of the session, the major indexes were repeatedly directed in green and red, without ever straying far from equilibrium.

“It’s been five weeks now that the stock market goes up and encountered strong resistance, as some investors try to take profits,” summarized Sam Stovall, Standard Poor’s Global Intelligence AMD.

After a very bad start to the year, Wall Street has returned to the level of the end of 2015, thanks in particular to a solid rebound in oil prices, but investors now seem to hesitate on the road to follow.

“Many people think we are at the beginning of further increases, while others say that it has reached the end, almost, of a vast movement,” summarized Patrick O’Hare Briefing, placing himself in the second camp.

He believed that the prospects of the stock were restricted by valuations back at a high level, while the results of US companies have proven unexciting last quarter.

“Whatever one may think, the market is changing for some time in the optimistic idea that economic demand and corporate earnings will be much improved in six months,” he concluded.

For now, investors have not let down by the announcement of a sharper drop than expected home resales in February in the US, some holding that this bad figure was partly due to poor weather .

The attention was instead dominated by a “flurry of mergers and acquisitions,” as highlighted experts Wells Fargo.

IHS and Markit bound

In hotels, Marriott lost 1.20% to 72.29 dollars after muscular in its $ 13.6 billion bid from Starwood, up 4.03% to 83.82 dollars, thwarting the ambitions the Chinese insurer Anbang which is currently building a real estate empire in the United States.

The IHS analysis firms and Markit, the merger should lead to a giant with a market capitalization of $ 13 billion in the field of financial information, jumped 6.53% to 117.94 dollars respectively and 10 41% to 32.56 dollars.

Finally, in the building materials, Valspar, specializing in the manufacture of paint, soared 24.62% to 104.47 dollars after the announcement of its acquisition for $ 11.3 billion by Sherwin-Williams, lost 4.50% to 275.71 dollars.

In the rest of the values, the Canadian drugmaker Valeant in turmoil since last summer with suspicion of accounting manipulation, gained 8.39% to 29.24 dollars after announcing the departure of its CEO Michael Pearson. The stock had lost almost two-thirds of its value last week.

Lions Gate Entertainment film studio yielded 3.32% to 21.87 dollars after the disappointing debut judged the third episode of the science fiction saga “Divergent,” which failed to dethrone the cartoon of Zootopie Disney (- 1.09% to 98.12 dollars) ahead of the US box office.

The bond market retreated, the yield on ten-year Treasury amount to 1.904% against 1.876% Friday night, and that good for 30 years at 2.704% against 2.679% previously.

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