Wall Street folds in the aftermath of records

The New York Stock Exchange ended in the red on Tuesday the day after records for the Dow Jones Industrial Average (DJIA) and S&P 500 and after disappointing retail sales figures in the United States.

The DJIA star index fell 0.56% to 29,783.35 points and the S&P 500 expanded 0.48% to 3,609.53 points.

The Nasdaq, with strong technological coloring, fell 0.21% to 11,899.34 points.

For Peter Cardillo of Spartan Capital, Tuesday’s drop is mainly attributable to “profit taking after yesterday’s sharp increase”.

However, notes the expert, “it does not seem that the danger of a real fall weighs on the market. This is due to hopes for a vaccine (against Covid-19, note)”.

On Monday, biotech company Moderna argued that its vaccine candidate was 94.5% effective against the disease, pushing up major Wall Street indices.

Last week, the Pfizer and BioNtech laboratories claimed that the vaccine they are jointly developing reduced the risk of contracting the virus by 90%.

The New York Stock Exchange also gave a mixed reception to the weak growth in retail sales in the United States in October.

These only increased by 0.3%, against an expected increase of 0.5% and an increase of 1.6% in September.

Among the values ​​of the day, Walmart (-2.01%), driven by the surge in online shopping, and Home Depot (-0.89%), which benefited from the growing popularity of DIY among confined Americans, have posted good quarterly results, but this did not directly impact their share prices.

Tesla (+ 8.21%), on the other hand, jumped the day after the announcement of its entry into the prestigious S&P 500 in December, which represents for the manufacturer of high-end electric vehicles a milestone and an opportunity to continue its march forward.

The drugstore chains Walgreens (-9.63%) and CVS (-8.62%) fell sharply after announcements from Amazon (+ 0.15%) on Tuesday. The e-commerce giant will notably offer a dedicated page allowing the online ordering of drugs prescribed by health professionals.


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