For the 4th session in a row, the US indices closed on narrow scores, and the market ended with no direction.
The week remains positive, however (it's the 3rd in a row), thanks to Monday May 6's bullish surge.

Another missed opportunity for the S&P500 to break a record: it had started the session well (climbing to 5,240, 0.25% off its best close of March 28), but quickly retreated to the previous day's levels before ending with a symbolic gain of +0.15%.

The Nasdaq (-0.03%) ended for the 4th time in a row without direction (no positive or negative gap greater than 0.25%): the index was penalized by declines from Moderna -4.4%, Paypal -2.4%, Tesla -2%, Amazon -1.1%, Alphabet and Apple and -0.8%.
It was also all downhill on Monday, with a gain of +1.2%... the following 4 sessions ended in complete stagnation.

The Nasdaq-100 broke away from the 'Composite' with a gain of +0.25% thanks to Charter Com +4.4%, Micron +2.9% Broadcom +2.1%, Zscaler +1.6%, Nvidia +1.3%.

The rise in equities may have been thwarted by the decline in ten-year US Treasuries: their yield rose by +5.7pts to 4.505%, while the yield on the 2-year Treasury was up +6pts to 4.865%.

This tension seems to have nothing to do with the US consumer confidence index compiled by the University of Michigan.
US consumer sentiment fell by almost -10Pts in May, to 67.4: its lowest level for six months, according to preliminary figures from the University of Michigan survey released on Friday (analysts were forecasting a much smaller decline, to around 76.2).

In detail, the current conditions component dropped to 68.8 from 79 last month, while the expectations component fell to 66.5 from 76 in April.


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