2023-06-27 14:41:00
(CercleFinance.com) – Wall Street opened slightly higher on Tuesday morning following the publication of several indicators attesting to the resilience of the American economy.
At the end of the morning, the Dow Jones advanced 0.3% to 33,811.5 points, while the Nasdaq Composite won 0.5% to 13,402.1 points.
Several statistics published in the morning confirmed that activity continued to hold up well in the United States and that a recession was not immediately emerging.
The Commerce Department reported a 1.7% increase in durable goods orders last month, after a 1.2% increase in April.
The Commerce Department announced a 12.2% jump in new home sales in May, which reached a level of 763,000 well above the market consensus.
Finally, the US consumer confidence index improved significantly in June, according to the latest monthly survey conducted by the Conference Board.
The confidence index calculated by the employers’ organization thus stood at 109.7 this month, against 102.5 in May.
The only downside is that the evolution of the measurement of consumer expectations shows that American households are indeed anticipating a recession over the next six to 12 months, according to the ConfBoard.
For many analysts, a large part of the good news is anyway well priced into stock prices, which limits the potential for market progress in the current context of uncertainty.
Along with the small rebound looming in equities, US government bond yields rose on Tuesday as the dollar weakened, which seems to signal less risk aversion.
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