(AOF) – US equity markets continue to fall sharply, two days after the Fed’s decisions. As the latter prepares to press harder and longer than expected on the monetary brake, the risks of recession are growing. In this context, the dollar rose against most currencies, benefiting from its character as a safe haven. The decline in assets (gold, silver, oil, etc.) is general. Around 5:30 p.m., the Dow Jones lost 1.49% to 29,635.42 points, while the Nasdaq Composite fell 1.72% to 10,876.95 points.
The Costco Wholesale action fell 3.01% to 472.51 dollars, penalized by pressure on margins in the fourth quarter. Gross margin fell 74 basis points to 10.18% as the warehouse format distribution group faced higher freight and labor costs due to higher l inflation and global supply chain issues.
Today’s economic figures
Private sector activity rebounded in September in the United States, according to S&P Global. The Composite Purchasing Managers’ Index (PMI), which takes into account the manufacturing and services sectors, came in at 49.3 in September from 44.6 in August. In detail, the PMI for services came out at 49.2 against 45 expected and 43.7 in August. The PMI for the manufacturing sector came out at 51.8 in September against 51.1 expected and 51.5 in August.
The values to follow today
The American aircraft manufacturer Boeing has agreed to pay a fine of 200 million dollars to put an end to the charges brought against it by the Securities and Exchange Commission (SEC), the stock market policeman in the United States. The latter had blamed Boeing for misleading investors and the public about the safety of the 737Max, after two of these planes crashed in 2018 and 2019, killing 346 people.
Costco Wholesale, the warehouse-format retailer, reported fiscal fourth-quarter earnings and revenue that beat Wall Street estimates, as annual sales topped $200 billion for the first time. Costco reported fourth-quarter earnings of $4.20 a share on revenue of $72.09 billion. Annual sales reached $222.73 billion, an increase of 16% over the previous year.
Raytheon Missiles & Defense, a company belonging to Raytheon Technologies, has been selected to develop the hypersonic attack cruise missile for the US Air Force (HACM), in partnership with the Northrop Grumman group. The HACM is a one-of-a-kind weapon, developed jointly with the Southern Cross Integrated Flight Research Experiment (SCIFIRE), a program jointly carried out by the United States and Australia.
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