The NYSE closed lower on Monday, between caution due to the expectation of the new employment data in USA and the lack of interest in certain technological titles related to artificial intelligence (AI).
After opening higher, the index Dow Jones fell 0.09%, the technology Nasdaq fell 0.59% and the expanded S&P 500 lost 0.16%.
“Although the markets started well week, the solid advance in stocks was brief in the face of sales pressures“, he indicated Jose Torres from Interactive Brokers.
“There was recorded certain sales trend: nothing important, but enough to slow down the indices“he commented Patrick O’Hare from Briefing.com.
The cloud computing giant Oracle had his third consecutive session down. From the Thursdayits stock has lost more than 17% of its value.
Broadcomspecialist in chip productionhad a similar move for a $73 billion portfolio that the market deemed not strong enough.
The trajectory of these two companies reflects the concern of Wall Street on the valuation levels of some securities of the AI sector and skepticism regarding its ability to monetize the enormous investments of recent years in the short and medium term.
On a macroeconomic level, the market will be focused on Tuesday on the employment data of November in USA.
This is a key indicator considering that the Federal Reserve (Fed, US central bank) “continues to make clear that it is more focused on the employment of its mandate,” O’Hare said. The central bank has the double objective to achieve full employment and price stability.
The three consecutive interest rate cuts in 2025 They sought to give air to the labor market.
He inflation data of November will be known Thursday.
