© Reuters. By Geoffrey Smith
Investing.com – The US stock markets opened mixed on Tuesday, before another key testimony session by Federal Reserve Chairman Jerome Powell and Treasury Secretary Steven Mnuchin.
At 9:35 am ET (1335 GMT), it was down 12 points or 0.1% to 25,583 points. The 0.2% increase while the 0.4% increase.
Trade is expected to be influenced by the showcase for the quarter, at the end of the best quarter for equities in more than a decade, although that performance is overwhelmingly due to the collapse in the first quarter that was triggered by a massive stimulus in fiscal policy. and monetary. The market was cold as the Chicago Purchasing Managers Index rebounded less than expected in June, to a level of just 36.6.
The threat of new blockade measures in the US also refuses to go away, as an increase in new cases in the south and west led to Dr. Anne Schuchart, senior deputy director of the Centers for Enforcement and Control. Disease Prevention, to say Monday that the virus is spreading too fast and so widely that it cannot be controlled. Several counties in California and Florida have already said that their beaches will be closed for the weekend of July 4.
Among individual stocks, Boeing (NYSE 🙂 fell 4.2% after Norwegian Air Shuttle ASA (OL 🙂 canceled an order for 97 aircraft, almost all of which were accounted for by the 737 MAX. Shares of Uber (NYSE 🙂 rose 3.8% after reports that it is in talks to buy the Postmates food delivery service for around $ 2.6 billion.
Exxon Mobil (NYSE 🙂 The shares fell 2.1% to their lowest level in six weeks on concern that they will have to write off billions of dollars of the value of their assets. Biggest rival Royal Dutch Shell (LON 🙂 said earlier Tuesday that deteriorations of up to $ 22 billion would be needed in the second quarter to reflect expectations for lower oil and gas prices for the next three years, following a path already surpassed by BP (NYSE:), Chevron (NYSE :), Hess (NYSE 🙂 and Occidental (NYSE :).
Royal Dutch Shell (NYSE 🙂 ADRs fell 4.3%. US oil prices, which were also affected by the Shell update, fell 0.6% to $ 39.45 a barrel.
Elsewhere, Tesla (NASDAQ 🙂 shares hit a new all-time record, rising 2.7% after an internal email leaked in which founder and CEO Elon Musk still held out hope that the company, which has a valuation of $ 187 billion, would break even in the three months through June.
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