Poor results from Netflix and Tesla sent the Nasdaq down and are weighing on investor appetite around the world.
The world stock exchanges They fell this Friday after disappointing results from technology companies sapped appetite for risk assets and while the dollar soared against the yen, after learning that the Bank of Japan is inclined to maintain its policy of control of the yield curve. returns next week.
In that context, the MSCI world stock index, which is up more than 16% this year, is down 0.3%. In Europe, the STOXX 600 was flat and the tech-heavy DAX was down 0.3%.
Following sharp falls in Tesla and Netflix earlier in the week and chipmaker TSMC’s warning of falling sales in 2023, a sub-index of European technology stocks was down 0.9%.
The moves came after Wall Street’s Nasdaq Index, heavily weighted by technology stocks, fell 2% on Thursday, its biggest one-day drop since March. Investors took profits amid concerns about valuations of technology shares, which have been supported by the potential of artificial intelligence that has helped the Nasdaq gain nearly 40% so far this year.
What happens on Wall Street
Wall Street futures pointed to the S&P and Nasdaq 100 rising about 0.2% each at the open in New York.
The dollar is heading for its biggest daily gain against the yen in a month after sources familiar with Bank of Japan thinking said central bank officials were leaning towards maintaining their yield control policy at next week’s policy meeting.
He dollar rises 1.3% to 141.8 yen, its biggest rise since late April. Just a week ago, it was trading below 138. The US Federal Reserve and the European Central Bank are also meeting next week, both expected to raise rates again after their most aggressive tightening cycle in decades.
US Treasury bonds
The profitability of United States Treasury bonds At two years, which follows interest rate expectations, it was trading stable at around 4.84% in European operations. The 10-year Treasury yield was stable at 3.854%, after rising 11 basis points the previous day.
Source: Ambito
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