Top Wall Street indices rose on Wednesday, driven by the profits of the technology sectoras a number of recent developments in bond yields paused and investors preferred to focus on positive company reports and a de-escalation of the Ukrainian crisis.
The S & P 500 up 1.5%, the Dow Jones Industrial Average 0.9% and the Nasdaq closed 2.1% up.
10-year treasury bond yields falling from multi-year highs achieved in the previous session, which underpinned confidence in global exchanges.
Megacapitalization companies like Goal Platforms Inc, Alphabet Inc, Tesla Inc and Microsoft between 1.2% and 2.5%. All index segments S & P 500 they showed increases, led by the area of discretionary consumption, technology and real estate.
“It’s like we’re suddenly a little more comfortable with the idea of less growth.said Paul Nolte, portfolio manager at Kingsview Asset Management in Chicago. “We’ll probably know for sure by Friday if this is just an oversold bounce or if January’s (lows) were more of an exaggeration, and maybe we can see a rebound for the rest of the first quarter.”
The firms linked to the economic growth and technology have been among the most affected this year by fears of interest rate hikes that led investors away from companies with huge valuations.
Index Nasdaq it fell almost 9% in January and has risen marginally so far this month.
Investors are waiting for data to be released by the US government on Thursday on the inflation january, what could deliver more signs on the pace of Federal Reserve interest rate hikes this year, after a solid job creation report.
Analysts surveyed expect on average that year-on-year inflation will steep to a four-decade high of 7.3 percent.
News of lower tensions between the West and Russia over Ukraine as well they raised investor morale, along with a series of robust corporate earnings reports.
(With information from Archyde.com)
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