MARKET REVIEW. The New York Stock Exchange ended in the red on Monday, weighed down by the fall in values in the technology sector and by an acceleration in sales movements at the very end of the session.
In Toronto, the S & P / TSX index finished in the red by 110 points, or 0.57%, at 19,361 points, after hitting a new record high during the session.
In New York, the S&P 500 lost 44 points, or 1.4% to 4,188 points.
The Dow Jones fell 34 points, or 0.1%, to 34,742 points. Up for most of the day, the Dow Jones, which remained on three consecutive records, folded just before the close.
The Nasdaq fell 350 points, or 2.55%, to 13,401 points. This is his heaviest fall in a session since mid-March.
The Canadian dollar rose 0.28% to US $ 0.8265.
Oil fell US $ 0.04, or 0.06%, to US $ 64.86.
Gold advanced US $ 6, or 0.33%, to US $ 1,837.30.
For JJ Kinahan of TD Ameritrade, “there is a kind of rivalry between value stocks (whose price is undervalued by the market, but whose financial health is rather good, Editor’s note) and growth stocks”, starting with the pillars of techno, whose prices climbed in 2020 thanks to confinements, but who have been skating since the beginning of the year.
“There doesn’t seem to be an end to this bitter struggle, at least in the short term,” Kinahan said.
The market’s attention is expected to shift this week to several indicators by which to gauge the pace of the economic recovery in the United States.
The Labor Department will release the Consumer Price Index (CPI) for April on Wednesday. In March, US inflation stood at 0.6% monthly and 2.6% year on year.
The same ministry will unveil the Producer Price Index (PPI) on Thursday, a measure particularly scrutinized as many large companies announced during the publication of their quarterly results that they would increase their prices because of the increase in the price. cost of raw materials.
Market participants will also see weekly unemployment claims figures on Thursday.
On Friday, the Commerce Department will release retail sales in April, the Federal Reserve will report on US industrial production last month, and the University of Michigan will release its preliminary estimate on consumer confidence in May.
At the end of last week, US employment figures were disappointing with just 266,000 jobs created in April, far from the expected million.
Several large listed companies are also due to publish their quarterly results in the coming days, including the American video game giant Electronic Arts on Tuesday and Walt Disney Company, a member of the Dow Jones, on Thursday.
Cosmetics company Coty fell 12.96% on Monday after announcing a drop in sales in the first quarter before the market opened, mainly due to containment measures in Europe.
The Marriott hotel group, whose quarterly revenue came in slightly below analysts’ forecasts, fell 4.11%. The company, however, said it expects demand to rebound thanks to progress in coronavirus vaccination campaigns.