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Wall Street ends uneven after bank results

The New York Stock Exchange ended unevenly on Wednesday, boosted on the one hand by good results in the banking sector and weighed down by the poor performance in the technology sector in the day.

The Dow Jones gained 0.16% to 33,730.89 points, while the Nasdaq technology lost 0.99% to 13,857.84 units, and the expanded S&P 500 index lost 0.41% to 4,124.66 points.

“JPMorgan Chase, Goldman Sachs and Wells Fargo did better than expected, but much of that good performance was driven by the market,” observed Art Hogan of National Holdings.

The profits of these banks soared between January and March in particular thanks to the reduction of the provisions they had made to face possible defaults by their clients, in a context of improving the economy.

Shares of Goldman Sachs (+ 2.34%) and Wells Fargo (+ 5.53%) rose, while JP Morgan (-1.87%) fell.

The Federal Reserve also published its Beige Book, a survey of companies between the end of February and the beginning of April, from which it indicates a reactivation of tourism and leisure time services in the United States.

The tech giants instead fell and dragged the Nasdaq: Apple, Facebook and Amazon each gave up about 2%.

On this day, the cryptocurrency exchange platform Coinbase went public, which ended at $ 328.28 per share, well above the reference price of $ 250, but below the maximum of the day, of $ 430.

Its market capitalization was about 86,000 million dollars.

dho / vmt / els / mr / mps

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