Wall Street, weakened by Chinese indicators, ends up in ruins


New York – Wall Street closed the week down on Friday, weakened by disappointing economic prospects in China, which did not prevent the indexes from closing the week in a comfortable increase.

According to the closing results, Wall Street's flagship index, the Dow Jones Industrial Average, lost 0.77% to 25,989.30 points.

The Nasdaq index, with a strong technological color, fell 1.65% to 7.406.90 points.

The broad S & P 500 index fell 0.92% to 2,781.01 points.

During the week, however, the Dow Jones rose by 2.8%, its strongest weekly gain since June, the S & P 500 by 2.3% and the Nasdaq by 0.7%.

"There are clear signs of a slowdown in China. But where a trade war can be resolved through negotiation, the economic crisis is a much deeper problem"Above all for the business opportunities of many US companies," said Gregori Volokhine, portfolio manager of Meeschaert Financial Services.

Following Friday's release of price indicators for Chinese producers and the Chinese auto market, "the Asian markets had already had a bad session"Friday, reported Karl Haeling of LBBW.

Furthermore, the trade war between Washington and Beijing showed few signs of improvement.

At the loggerheads, the leaders of the two capitals have increased mutual warnings on Friday at a ministerial meeting in Washington, while ensuring they strengthen their cooperation and avoid a new one "cold War".

The US foreign and defense ministers met with their Chinese counterparts to prepare for the meeting between Presidents Donald Trump and Xi Jinping scheduled for the G20 summit at the end of the month.

– General Electric dark –

As for the United States, the sharp rise in food prices and fuel prices pushed the producer price index (IPP) to rise by 0.6% in October, the biggest increase in over six years.

This index is part of a rising cost trend of US companies and the effect of their prices, one of the main lessons of current company quarterly results.

This climate could encourage the US central bank (Fed), responsible for monitoring inflation, to adopt a more aggressive position on its tariff increases, making financing costs even more expensive for households and businesses.

In the bond market, the US interest rate on ten-year debt declined to 9.18% at 9:40 pm GMT, compared to 3,183% on Thursday night, the 30-year debt rate fell to 3,397%, against 3,434% the previous day.

Among the values ​​of the day, the American industrial giant General Electric continued its descent to hell (-5.71%), following the concerns in a note by Steve Tulsa, one of the company's great connoisseurs and analyst at JPMorgan Chase.

The Disney group (+ 1.72%), which is partially buying the 21st Century Fox group, published the quarterly and annual results on Thursday better than expected, driven by theatrical successes as "Black Panther"OR"Avengers: Infinity War".

Activision Blizzard video game publisher collapsed by 12.39% after reporting expectations under analysts' expectations when it announced its results on Thursday evening.

Procter and Gamble earned 1.15%. The consumer goods group announced a reorganization of its activities in six divisions on Thursday, with effect in July.

Goldman Sachs lost 3.89%. According to a family source, the former CEO of the bank, Lloyd Blankfein, is the "senior manager"Cited by US authorities as having met a person in the heart of the vast corruption scandal involving the Malaysian public investment fund 1MDB.


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