Wall Street halts its comeback amid an unexpected rise in unemployment

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Wall Street seeks direction this Thursday after having conceded an increase in weekly unemployment that analysts had not seen coming. The bad job market data it is peppered with other weaker-than-expected benchmarks that lead investors to adopt a wait-and-see strategy to impose a halt in its recent comeback.

Throughout the last week, 419,000 Americans applied for their unemployment benefit. A figure significantly higher than the 350,000 unemployed that economists had foreseen, who estimated that the previous record would improve again, as had been the case on recent occasions.

This was the data that froze the evolution of the New York indices. The Dow Jones it traded with declines of a few hundredths, below 34,800 points. In the opposite direction, although with the same weakness, the S&P 500, above 4,300 points. More determined, the Nasdaq added 0.2% to its graph, at 14,650 points.

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While the ECB made a strong defense of the convenience of extend your monetary stimuli on this side of the Atlantic, other macro references hit the mood of investors in US equities. Such was the case of Chicago Fed National Activity Index, which contracted to a ridiculous 0.09 points.

From the sector real estateThere was also no good news this Thursday for the New York Stock Exchange. Throughout June, only 5.86 million second-hand home sale transactions were registered. A lower level than what was expected by the consensus of experts, although higher than that registered in May.

Quarterly results

At the corporate level, the focus continued on the presentation of quarterly accounts. One of those that was scrutinized by investors was Blackstone, which rose 4% after publishing net attributable profit of $ 1,309.2 million, 130% more than a year ago.

Less impact on their price had the accounts of AT&T. The telephone operator traded flat after announcing an increase of 23.2% in its net profit, up to 1,514 million dollars. A figure that, despite the increase, remained in line with the forecasts of the analysts who most closely monitor the evolution of its business.

SPAC and renewables

On the other hand, CBRE has announced the closing of an alliance with the constructor and operator of solar energy facilities Altus Power for acquisition by a Special Purpose Acquisition Company (SPAC). This transaction values ​​the renewable at 1,580 million dollars.

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