Departure just below par for Wall Street trying to catch its breath after the last record sessions for the Dow Jones and the S & P500 index. In New York, the Dow fluctuates on the parity line at 35,482 points, while the S&P 500 and the Nasdaq drop by about 0.14% and 0.31% respectively.
After the publication of inflation yesterday, investors focus today on the employment theme. As every week, in fact, updates on applications for unemployment benefits in the United States were disseminated. Requests fell for the third consecutive week, reaching 375,000 in the week to 7 August, down by 12,000 from the previous week. The data impacted the Bloomberg consensus estimates. On the other hand, producer prices for final demand for the month of July are stable. The figure showed a monthly growth of 1% in line with the past survey, outperforming the Bloomberg consensus which expected + 0.6%.
Among the individual stocks, the spotlight is on Moderna which today bounces at the start (marks an increase of 4%), after the recent strong drops. Moderna shares fell by around 16% yesterday. Moderna has had an incredible run since the start of the year, making it by far the best stock in the S&P 500. After the release of the quarterly data, some analysts (Oppenheimer and Piper Sandler) cut their ratings on the stock.