Yesterday on Wall Street

Posted 19 January, 2022

After a three-day weekend, the New York Stock Exchange sank into the red, weakened by another jump in bond yields (the 10-year US + 1.5% to 1.88%), which heightened concerns about future monetary tightening by the Federal Reserve.

The Nasdaq is now down 10.5% from its session high of 16,212 points on November 19, entering the correction zone.

Oil prices (WTI + 1.9% to $85.43 a barrel) continued to rise the day after an attack attributed to Yemeni Houthi rebels targeting the United Arab Emirates.

The major event was the announcement of a friendly takeover bid of nearly $69 billion in cash from  Microsoft  (-2.43% to 302.65) on  Activision Blizzard (+25.88% to 82.31), the publisher including video games "Call of Duty", "World of Warcraft" and "Candy Crush".

The quarterly results of investment bank  Goldman Sachs  (-6.97% to 354.4) were disappointing, despite growth above expectations for income. Like its rivals  JP Morgan Chase  (-4.19% to 151.27) and  Citigroup  (-2.44% to 65.3) last week, Goldman Sachs saw its labor costs (wages and bonuses) increase, which weighed on its profits.

All the big names in tech lost ground, from Meta Platforms / Facebook (- 4.14% to 318.15) to Alphabet / Google, (- 2.50% to 2,719.96) via Amazon (- 1.99% to 3,178.35) and Apple (- 1.89% to 169.8).

Major US airlines estimated that the rollout of new services from AT&T (+0.48% to 27.31) and Verizon (+0.28% to 53.43) in 5G C-band could cause a disaster due to a risk of disruption in aviation.

A powerful winter storm hit much of the eastern United States and Canada on Sunday, resulting in the cancellation of more than 3,000 flights, including 660 for American Airlines (- 3.19% to 17, 9).

The American platform for the rental of housing between individuals Airbnb dropped 5.67% to 154.69, penalized by Gordon Haskett who is no longer Buy, considering it difficult to justify the current valuation and highlights the risk posed by Omicron to the results of the first quarter.

The  Dow Jones thus lost 1.51% to 35,368.47 points, the  Nasdaq Composite  2.6% to 14,506.9 points, and the  S&P 500  1.83% to 4,577.34 points.

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19 January, 2022 10:25

← Moody's Affirms Microsoft's 'Aaa' Rating on Plan to Buy Activision Blizzard

The international rating agency Moody confirmed the credit rating of Microsoft Corp. at 'Aaa' with a stable outlook after the company agreed to acquire video game maker Activision Blizzard, the agency said.

Moody's Affirms Microsoft's 'Aaa' Rating on Plan to Buy Activision Blizzard

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19 January, 2022 09:14

Luxury: Burberry and Richemont are a hit during the holidays →

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Luxury: Burberry and Richemont are a hit during the holidays
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