2023-07-29 08:07:24
Closing
Wall Street ends in the green, optimism on the US economy
published on 07/28/2023
par Carolina Mandl et Bansari Mayur Kamdar
(Archyde.com) – The New York Stock Exchange ended higher on Friday as investors regained optimism following a series of earnings, economic data and announcements from officials of the US Federal Reserve (Fed).
L’indice Dow Jones a gagn 0,5%, ou 176,57 points, 35459,29 points.
The broader S&P-500 gained 44.82 points, or 0.99%, to 4,582.23 points.
The Nasdaq Composite advanced on its side by 266.55 points (1.90%) to 14,316.66 points.
“When you take the big picture, the idea of seeing the economy continue this way for some time, with clearly declining inflation comes to mind,” said Scott Ladner, chief investment officer at Horizon Investments. .
Inflation slowed sharply in the United States last month, the Commerce Department said on Friday, which might prompt the US Federal Reserve to end its cycle of interest rate hikes.
“The possibility that inflation is under control and the economy avoids a recession makes investors optimistic,” said Win Murray, director of research at Diamond Hill.
Most of the eleven S&P sector indices ended in positive territory, with the communication sector in the lead.
In values, Intel’s results propelled the semiconductor market, with Nvidia and Marvell Technology also ending in the green.
Procter & Gamble rose following posting better-than-expected quarterly results.
Exxon Mobil fell following reporting a 56% drop in quarterly profit.
(With the contribution of Johann M Cherian; French version Camille Raynaud)
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