The New York Stock Exchange opened higher on Friday before turning around and going into the red, troubled by a mixed monthly report on US jobs.
After starting in the green, all three indices were down around 2:55 p.m. GMT. The Dow Jones dropped 0.11% to 34,602.16 points, the Nasdaq index, with a strong technological flavor, 0.71% to 15,272.00, and the extended S&P 500 index, 0.18% to 4,568.98 points .
The day opened with the employment report for the month of November, published before market close by the Labor Department.
He reported 210,000 job creations, well below the expected 525,000.
“But the unemployment rate has come down to 4.2% (from 4.6%) and the participation rate [of the population in the labor market] has increased a little,” said Peter Cardillo of Spartan Capital.
“The main figure (that of job creation) is disappointing, but if you analyze the report, it is not that bad,” argued the analyst.
“The report is mixed,” commented Jamie Cox, partner at Harris Financial Group. “Better to wait for [any] revisions next month before you cry stagflation.”
“If you think that this report will postpone the acceleration of monetary normalization mentioned by the president of the Fed (American Central Bank) Jerome Powell, that would be a mistake,” added the manager.
“There are going to be some market moves today,” commented Patrick O’Hare of Briefing.com in a note, “perhaps hopefully not as pronounced as in other sessions of the week, but it will move. ”
In addition to the employment report and the hardening of the Fed’s rhetoric, investors remain attentive to developments concerning the emergence of the new Omicron variant of the coronavirus responsible for Covid-19.
The benchmark VIX market volatility index (dubbed the “fear index”) retreated quite sharply on Friday, and US government bond rates tightened, both of which point to less market tightness. as to the consequences of Omicron for the global economy.
In trade, Didi Chuxing, plummeted 15.13% to 6.62 dollars after the announcement of the next withdrawal from the rating of the “Chinese Uber” on Wall Street, less than six months after its listing on New York Stock Exchange, under pressure from Chinese authorities.
Technically, after validation with a shareholder vote, the securities listed on Wall Street, ADS (American depository shares), will soon be registered on the Hong Kong Stock Exchange.
In the wake of Didi, another Chinese group, Alibaba continued to sink (-8.88% to 111.17 dollars), at the lowest for four and a half years, weighed down by the rumor of an exit from the rating from the e-commerce giant. Same price for other Chinese e-commerce giants, JD.com (-11.24%) and Pinduoduo (-11.59%), also listed on Wall Street.
The specific-purpose acquisition company Apollo Strategic Growth Capital, backed by the alternative management giant Apollo Management Group (-0.69%), advanced (+ 1.17% to $ 9.95) after the announcement of its merger with American Express Global Business Travel.
This entity, dedicated to business travel, has been separate from American Express since the credit card specialist sold half of its capital to a group of investors in 2014.
The specialist in digital transactions DocuSign (-39.78% to 140.80 dollars) collapsed after announcing below expectations for its fourth quarter (from November to January).
Gunmaker Smith & Wesson was the target of investors (-25.83% to $ 16.99) after posting lower than expected quarterly revenue and profit.