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Stock market: Wall Street ends up, sees an opening on Ukraine

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MARKET REVIEW. The New York Stock Exchange ended higher on Monday, encouraged by the prospect of new talks on Ukraine, in a market that remains oriented to the purchase.

A pullback in the energy and materials sectors, fueled by COVID-19 lockdowns in China’s financial capital, forced the Toronto Stock Exchange’s flagship index to close lower on Monday.

To (re)consult market news

Stock market indices at closing

In Toronto, the S&P/TSX fell 28.11 points (-0.13%) to 21,977.83 points.

In New York, the S&P500 gained 32.46 points (+0.71%) to 4,575.52 points.

the Nasdaq rose 185.60 points (+1.31%) to 14,354.90 points.

the DOW rose 94.65 points (+0.27%) to 34,955.89 points.

the loon ended down US$0.0033 (-0.4176%) at US$0.7984.

the oil fell US$10.43 (-9.16%) to US$103.47.

gold ended down US$32.90 (-1.68%) at US$1,921.30.

the bitcoins raked in US$1,955.24 (+4.25%) to US$47,922.76.

The context

Although having spent almost the entire session in the red, the star index of the New York market has managed to hang its ninth increase in eleven days of trading. It is only a breath away from 35,000 points, a threshold it has not reached since the beginning of February.

For analysts at Briefing.com, the final acceleration in the indices was “initiated by reports from the Financial Times indicating that Russia was ready to let Ukraine enter the European Union, provided it did not join NATO”.

Also according to the British financial daily, which cites preparatory documents for a ceasefire, Russia would no longer demand a “denazification” of Ukraine, presented so far by Russian President Vladimir Putin as the main reason for the invasion of Ukraine.

“Looks like we’re making small progress,” said Jack Ablin, head of investment strategy at Cresset Capital. The analyst also mentioned the decline in bond rates, in orbit since early March.

After hitting 2.55% earlier on Monday, the yield on 10-year US government bonds fell to 2.46%.

For Jack Ablin, investors also appreciated the cold snap on the oil market, where the two main varieties, Brent and WTI (West Texas Intermediate), each dropped nearly 7%.

This slide has also been imitated by oil stocks,ExxonMobil (XOM) (-2.81%) at Herringbone (CVX) (-1.75%).

Conversely, Tesla (TSLA) took off (+8.03% to US$1,081.84), supported by the company’s filing of a motion to split its shares, the multiple having not yet been specified. If the proposal were validated at a general meeting, it would be the second division of titles, after that of August 2020.

Stock splits make a company’s securities more accessible to small shareholders.

Like the electric vehicle maker, Nasdaq heavyweights were sought after, from Microsoft (+2.32%) to Amazon (+2.54%).

Apple (AAPL) recorded only a limited gain (+0.50% to US$175.60), weighed down by information from the Japanese agency Nikkei which reported a 20% downward revision in volumes of production of the iPhone SE for the next quarter, due to insufficient demand.

Asked by AFP, the apple giant did not respond.

HP (HPE) suffered (-3.10%, to US$42.89) from the announcement of the acquisition of the manufacturer of remote work tools (headsets, videoconferencing equipment) Poly, for $1.7 billion US.

The platform Coinbase (COIN) gained height (+7.87% to US$201.41), helped by the appreciation of bitcoin in recent days.

Always popular with some of the small carriers since the wave of “same stocks” (titles propelled by waves of purchases stimulated by social networks), the chain of cinemas CMA surged (+44.91% to US$29.33). Its managing director announced on Monday that he was planning other equity investments after he entered the capital of a mining company in mid-March.

In its wake, the other symbol of “meme stocks”, the chain of video game stores GameStop (GME)was in verve (+24.77% to US$189.59).

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