(CercleFinance.com) – Wall Street was indecisive all day and a little weak on the finish: the performances remained disparate all day for the Nasdaq (-0.48% but + 0.3% weekly) and the Dow Jones (+ 0.38%).
The S & P500 posted -0.1% and ended the week and the month of May in the red (at mid-session, the weekly score was slightly positive, it turned out very little).
Today’s figures could have justified more enthusiasm on the part of buyers: economic activity exceeds the most optimistic expectations, in all sectors … and the lack of manpower (construction, leisure / restoration) even seems to slow the pace of growth.
the composite ‘flash’ PMI index climbed to 68.1 from 63.5 in April.
The PMI for manufacturing activity rose to 61.5 in May from 60.5 the previous month (the highest since October 2009).
The services sector PMI jumped from 64.7 to 70.1, another record high since October 2009.
Small flat, resales of old homes fell 2.7% in the United States in April, according to the NAR (National Federation of Real Estate Agents) to 5.85 million units at an annualized rate.
The NAR, however, specifies that sales remain up 20% over the first four months of 2021, and that the median price of old homes sold, at 341,600 dollars, shows a record increase of 19.1% over 12 months.
Surprisingly enough, despite ‘roaring’ macro figures, the yield on T-Bonds eased from -0.5Pts to 1.623%.
On the securities side, the S & P500 was torn between the increases of Nvidia and e-Bay + 2.6%, Splunk + 1.5% and the declines of Amazon -1.4%, Apple and Vertex -1.5%, Zoom -2.6%, Moderna -3.5%.
The end of this day is marked by a heavy relapse of ‘cryptos’ after their rebound of + 40% on average since Wednesday: Bitcoin drops by -12% to 35,000, Ethereum, Cardano, Litecoin and Ripple plunge back 20% … and many cryptoassets are down 60% from their recent highs (just 10 days ago).
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