The New York Stock Exchange ended Thursday’s session with no clear direction, the Dow Jones weighed down by Disney results while the other two major indices began to rebound.
The flagship Wall Street index thus closed down 0.44%, at 35,921.23 points, while the Nasdaq, with a strong technological coloring, gained 0.52% to 15,704.28 points and the index expanded S&P 500, 0.06% at 4,649.27 points.
Far from its magical world, Disney had a very bad day, the day after the publication of results that disappointed the market.
The entertainment giant missed the target on turnover and net profit, but above all only gained two million net subscribers to its Disney + online video service, the flagship of its new digital strategy. But analysts expected at least quadruple.
On its own, Disney, which weighs just over 3% of the Dow Jones and dropped 7.07% on Thursday, was enough to drag the index into the red, with the help of Visa (-2.38%) , which represents 3.9% of the total.
The fact that the market is moving in limited volumes, as Thursday was a public holiday in the United States (in honor of veterans), has contributed to the volatility of the Dow Jones.
But beyond the flagship index of the New York Stock Exchange, “we saw a small rebound,” said Peter Cardillo, Spartan Capital. The market remained, in fact, on two sessions of decline, after eight consecutive records for the S&P 500.
In the absence of macroeconomic news, or even any short news, public holiday obliges, investors focused on the stocks which had just published their results.
In addition to Disney, the financial company Affirm, which has become the symbol of the emergence of online credit purchases, was put into orbit (+ 13.70%) after announcing the strengthening of its partnership with the giant Amazon.
All purchases of $ 50 or more made on Amazon can now be staggered with the assistance of Affirm.
The Tapestry group, which controls several fashion brands, also stood out (+ 8.38%) thanks to results exceeding expectations, boosted by its Coach brand, whose sales are 15% higher than their level of two years ago, before the pandemic.
Conversely, the specialist in vegetable meat substitutes Beyond Meat unscrewed (-13.28%), weighted by results below expectations. The group reported a lack of manpower and supply chain disruptions.
Thursday nightmarish also for the dating site Bumble (-19.25%), which recorded a loss while the market expected to break even over the quarter, and gained fewer users than expected.
As for the e-commerce site JD.com, it jumped (+ 8.31%) after revealing that its platform had recorded almost $ 55 billion in sales on the occasion of the Singles Day in China, more important worldwide e-commerce event.
Its competitor Alibaba also benefited from the momentum of this extraordinary day (+ 2.37%), during which transactions on its platforms reached more than $ 80 billion. Another Chinese e-commerce site, also listed on Wall Street, Pinduoduo was also sucked up (+ 7.35%).
The US bond market was closed on Thursday.