Wall Street stopped, taken in the swirl of health



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WALL STREET MEETS LOW LOSS

PARIS (Reuters) – Wall Street ended a slight loss on Wednesday as the decline in health stocks has performed well in companies and encouraged statistics from the United States and China.

The Dow Jones index yields 3.12 points, or 0.01%, to 26,449.54 points. The broader S & P-500 leaves 6.61 points (0.23%) at 2,900.45 points. The Nasdaq Composite falls 4.15 points, or 0.05%, to 7,996.08 points.

The US trade deficit was the weakest in eight months in February, while China recorded a 6.4% growth in the first quarter on an annual basis, as in the last three months of 2018, surpassing projections thanks in particular to a improvement in industrial production and domestic demand.

In addition, China's industrial output growth accelerated to 8.5% in March, its biggest increase since July 2014.

Profit "season" is starting to peak, and analysts are anticipating a 1.8% drop in S & P-500 corporate profits in the first quarter, according to Refinitiv data. This would be a first decline in corporate profits since 2016.

Of the 54 S & P-500 companies that published quarterly, 79.6% disagreed, compared with an average of 65% dating back to 1994.

"Finally, it becomes a season of correct results," added Tuz. "The turnover is fine and we did not hear any predictions suggesting it would be worse."

However, this relative optimism does not affect the health and health insurance sectors.

"Those with health care credentials fear a boost for & # 39; Medicare for all," said the Chase Investment Counsel (Peter Tuz), speaking about the weak historical industry. Exchange. "Such development seems inevitable."

Senator Bernie Sanders last week released the latest version of his ambitious Medicare for All plan bringing the health debate to the frontline of the 2020 presidential agenda.

The Sanders Plan, similar to the Senate since 2107, would virtually eliminate all private health insurance plans for a public program open to all Americans; This plan is criticized by Republicans for being too expensive and too radical.

VALUES

In the health and health insurance sectors, UnitedHealth Group sold 1.83%, Pfizer 2.57% and Merck & Co. 4.74%.

In terms of corporate results, Morgan Stanley performed better than expected in the first quarter thanks to its private bank and cost reductions, allowing its stake to post a gain of 2.64% at closing.

United Continental Holdings Inc. gained 4.78% on Tuesday, confirming an adjusted EPS of $ 10 to $ 12, while its subsidiary United Airlines announced a higher-than-expected profit in the first quarter and confirmed its annual profit target, despite the immobilization of its 14 Boeing 737 MAX

INDICATORS OF THE DAY

The US trade deficit returned to its lowest level in eight months in February thanks, among other things, to a sharp increase in exports to China, which more than offset the recovery in imports.

Stocks of wholesalers in the United States rose less than expected in February, with sales rising for the second consecutive month.

THE SESSION IN EUROPE

European stock markets ended sharply on Wednesday after a hesitant session, backed by Chinese growth that was better than expected in the first quarter.

In Paris, CAC 40 rose 0.62% at 5,563.09 points, the highest level since the end of May 2018, having peaked at the end of September. The British Footsie ended almost unchanged (-0.02%) and the German Dax took 0.43%.

The EuroStoxx 50 index rose 0.41%, the FTSEurofirst 300 gained 0.09% and the Stoxx 600 gained 0.1%, reaching a peak of eight months.

THINGS TO LOOK FOR THURSDAY, APRIL 18:

Publication of indexes, services and compositions of the industrial PMI in the first estimate of France at 9:15, of Germany at 9:30, of the euro zone at 10:00.

(Stephen Culp, Wilfrid Exbrayat for the French service)

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