November 30, 2021

Weekly Oracle

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Triple record on Wall Street seeing cloudless sky

(New York) Three major Wall Street indices hit record highs on Friday, driven by good U.S. employment figures and the possibility of widespread anti-Govt.




The Dow Jones Industrial Average ended 0.56% at 36,327.95 points, the NASDAQ index ended 0.20% higher at 15,971.58 points, while the S&P 500 expanded index ended 0.37% at 4697.53 points.

This is the seventh consecutive record for the S&P 500 and NASDAQ, which signed off on its tenth series session on Friday.

The day has begun on wheel caps, with the Department of Labor reporting that 531,000 jobs were created in the United States in October, which was far better than the expected 400,000 jobs.

Unemployment fell to 4.6% (-0.2 points), the ministry said.

“This employment report gives the impression that we have made up for lost time,” said Sam Stowell, head of CFRA’s investment strategy.

He added that the publication was “very solid” and “compensates for the weakness we noticed in previous months”, especially as job creation figures were sharply revised in August and September, with a total of more than 230,000 jobs.

The lights are on between the US economy, which is growing rapidly, companies that are not really badly affected by supply restrictions, and the US Federal Reserve (Fed), which only promised to be very cautious on Wednesday on the path to cash. Normalization.

“The interesting thing is that the market is not worried about inflation yet.”

It is also the tone of the bond market. Ten days after the US government bond rate rose above 1.60%, it fell to 1.45% for the first time since the end of September.

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On Friday, Pfizer drew attention (+ 10.86%) by announcing the first positive results of its Govit-19 anti-inflammatory pill against forms of acute illness.

The news weighed on the market the day after its competitor Merck (-9.86%) approved the marketing approval of its own capsule against the corona virus, but NovaVox (-11.21%) and Moderna (-16.56%).

Following Pfizer’s announcement, the overall tourism sector, led by Carnival (+ 8.35%), Norwegian (+ 7.83%) and Royal Caribbean (+ 8.95%), but also Walt Disney (+ 3.14%) and cruise lines, exited. Airlines United (+ 7.29%), Southwest (+ 6.44%) or American Airlines (+ 5.74%).

Another strong topic, Airbnb (+ 12.97%), signed the best quarter in its history between July and September and the benefits of the evolution of applications that differentiate between forms of travel and home rental and the development of teleworking.

Expedia (+ 15.66%), an online booking platform, is the beneficiary of the tourism boom, which also surpassed its revenue and net profit expectations. In addition to strong growth in bookings, an increase in the average price boosted the site’s financial statements.

In 2009, the day after its launch, the first operating profit in its history since its inception, Uber performed well (+ 4.24%). It is gradually rebuilding its set of drivers that have shrunk drastically due to the epidemic. And travel bookings increased by 67% per year.

In contrast, exit from the outbreak is going to be bad for Peloton, down 35.28% on Friday.

The expert on fitness bikes and attached treadmills on Thursday evening reported a net loss higher than expected and significantly reduced its earnings forecast for its postponed fiscal year 2021/22 (July to June).

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This is due to the increasing attendance in sports halls, which are a direct competitor to domestic equipment, which is very fashionable during epidemics.

Since the end of July, the group has lost more than half of its market capitalization (-56%).

Following in the footsteps of computer security expert McAfee, the title rose 20%, with an article in the Wall Street Journal announcing an immediate deal to acquire private equity firm Advent International for more than $ 10 billion.