Home Economy Wall Street ends with modest gains. Nike drops more than 6% – Bolsa

Wall Street ends with modest gains. Nike drops more than 6% – Bolsa

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Wall Street ends with modest gains. Nike drops more than 6% – Bolsa

Wall Street ended Wednesday's session at Positive groundWith slight changes in the main indicators. After the Iranian attack on Israel on Tuesday, which began hours after a ground incursion by Israeli forces into southern Lebanon, Investors continued to assess the rising tensions in the Middle East. New employment data eased concerns about the health of the North American economy.

The S&P 500 remained virtually unchanged, up 0.01% to 5,709.54 points, while the Nasdaq Composite rose 0.08% to 17,925.12 points. The Dow Jones Index added 0.09% to 422,196.52 points.

Investors remained cautious as both Israel and the United States promised to respond to the Iranian attack. Which led to the S&P 500 and Nasdaq indexes recording their largest single-day decline in nearly a month..

After reaching a record level at the end of Tuesday’s session – with growth above 1% -, The S&P 500 aerospace and defense sub-index fell During the day on Wednesday, it closed the session down by 0.22%.

To fuel optimism about the health of the world's largest economy, ADP data showed that US private sector employment rose by 143,000 in SeptemberIt is further evidence that labor market conditions are not deteriorating.

This data, which was stronger than expected, reduced confidence that the next cut in interest rates by the US Federal Reserve would be a significant cut, like the one implemented on September 18. The odds of a 25 basis point cut at the Fed's November meeting are now 65.7%.up from 42.6% a week ago, according to CME Group's FedWatch tool.

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As for major market movements,… Nike saw its shares decline by 6.77%.This is just days before the new CEO takes over the reins of the company. Pressuring the sportswear giant's shares was the fact that the company reported that its fiscal first-quarter revenues fell short of estimates and that it withdrew its guidance for the year, in the context of a leader change. Tesla shares also declined, losing more than 3.49%.After recording a lower than expected number of vehicle deliveries in the third quarter.

Among the “big technology companies”, Nvidia rose by 1.58% and Apple rose by 0.25%. On the other hand, Microsoft shares fell by 0.85%, Alphabet shares lost 0.66%, Meta lost 0.63%, and Amazon shares lost 0.20%.

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