Categories
financial and business news

Wall Street hooly-news.com Analysis – Dow Jones Down 2.72%, Nasdaq Down 2.19%

Published on

Wall Street hooly-news.com Analysis - Dow Jones Down 2.72%, Nasdaq Down 2.19%
Pixabay

(hooly-news.com) – The US stock markets fell sharply on Wednesday. Investors were worried about the resurgence of the pandemic in some southern states of the USA, but also in Germany and China. In addition, the White House seems to plan to relaunch the trade war, but this time with Europe, by thinking about the taxation of products like wine or beer. Finally, the more pessimistic IMF forecasts on the extent of the global recession this year weighed. At the close, the Dow Jones fell 2.72% to 25,445.94 points. The Nasdaq lost 2.19% to 9,909.17 pts.

The prospect of an American justice offensive against Alphabet has only a limited impact on the stock market. The action of the parent company of Google lost 2.22% to 1,431.97 dollars, outperforming the Nasdaq Composite index. The justice ministry and a group of state attorneys general are scheduled to meet on Friday to discuss the next steps in a likely antitrust proceeding against the Alphabet, the Wall Street Journal said.

Economic figures of the day

Crude stocks in the United States at the end of the week ended Saturday June 19 increased by 1.442 million barrels. Economists expected an increase of only 0.299 million after + 1.215 million the previous week.

The values ​​to follow today

ALPHABET

The justice ministry and a group of state attorneys general are scheduled to meet on Friday to discuss the next steps in a likely antitrust proceeding against the Alphabet, the Wall Street Journal said. They are likely to sue Google on the basis of accusations that the Internet giant is using its dominant position to stifle competition. The lawsuits could be launched as early as this summer.

DELL

Dell Technologies is exploring options, including a split of its 81% stake in VMware to increase the value of its shares, the Wall Street Journal says. According to sources familiar with the matter, the IT group is also studying the possibility of buying back the balance of the capital. The review is at an early stage and no decision is imminent. Dell may choose to do nothing. Dell is currently valued at $ 36 billion while its stake in the specialist virtualization solutions reaches 50 billion.

FIAT CHRYSLER

Fiat Chrysler Automobiles (FCA) would ultimately have obtained the assistance requested. Thus, Italy would have approved a decree providing for a loan guaranteed by the State of 6.3 billion euros for the Italian branch of the Italian-American car manufacturer. At least that’s what hooly-news.com reported based on a source familiar with the matter. The possible conditions for such aid are not yet known. FCA employs around 55,000 people in Italy in its 16 factories and 26 dedicated sites.

MC DONALD’S

JPMorgan raised its price target from $ 180 to $ 204 on McDonald’s stock, while reiterating its recommendation to Overweight. The American broker continues to consider value as a benchmark for the sector in the long term. The latter is also part of its “focus list”.

US T-MOBILE

T-Mobile US has announced that the sale price of the shares transferred by the SoftBank holding company will be $ 103 per security. Second shareholder of the American operator with 24.6% of the capital, the Japanese announced on Tuesday the launch of the sale of its stake in the telecoms specialist. Also, a third of the shares will be reserved for Deutsche Telekom, the largest shareholder in T-Mobile US, for sale by 2024.

WALT DISNEY

According to a press source, the Walt Disney Company streaming video platform, Disney +, will be launched on September 15 in eight other European countries. Portugal, Norway, Denmark, Sweden, Finland, Iceland, Belgium and Luxembourg will thus be added to the list of countries which already benefit from this service. The platform of the American entertainment giant was launched on Tuesday April 7 in France after a two-week postponement following a request from the French government concerning its concern about the congestion of the Internet during the Covid-19 crisis.