2023-06-09 19:58:13
Around 1:55 p.m. GMT, the Dow Jones appreciated by 0.13%, the Nasdaq index gained 0.93% and the broader S&P 500 index gained 0.46%.
The S&P 500 managed to end Thursday 20% above its October 12 closing low, which means that Wall Street has gone into a “bull market”, i.e. a bull market, a important psychological threshold for operators.
“The market is going through an interesting transition,” commented Quincy Krosby, analyst at LPL Financial. “The mood has changed. Institutional investors, who stood on the sidelines, are re-engaging.”
“The question everyone is asking is whether the good sequence will continue,” said Patrick O’Hare of Briefing.com in a note.
“The answer will depend on economic data, corporate earnings growth and monetary policy,” he continued.
The indices triumphed on Friday over the wait-and-see attitude that threatened the New York market before a busy week in the news, with the CPI price index on Monday and the meeting, Tuesday and Wednesday, of the American central bank (Fed), which is expected a status quo.
For Quincy Krosby, the fact that the movement of recent days has been accompanied by small and mid caps, “more in direct contact with the economy”, is another positive sign.
Since the end of May, the Russell 2,000, an index which includes small values, has gained more than 7%, whereas it has been stable so far since the beginning of the year.
Another notable marker, the equity market resisted the rise in bond rates, driven by the surprise hike in the key rate of the Canadian central bank (BoC) on Wednesday.
The yield on 10-year US government bonds stood at 3.76%, against 3.71% the day before closing.
On the stock market, Tesla continued to accelerate (+5.63%), the day after the announcement that the manufacturer would open its network of charging stations to General Motors (+3.60%) from the start of 2024. GM also has integrate into its models, in 2025, the charging standard used by Tesla.
The news weighed, on the other hand, on the course of ChargePoint (-11.19%), operator of the first independent network of chargers in the United States.
In addition to Tesla, the volatile values of the rating were at the party, from Airbnb (4.74%) to the cruise line Carnival (+ 2.89%), via the specialist in connected bicycles and treadmills Peloton (+ 14 .58%).
The flagship values of artificial intelligence were also celebrated, whether it was the graphics card manufacturer Nvidia (+2.59%), the data analysis specialist Palantir (+4.02%) or the publisher of C3.ai software (+7.81%).
Target (-1.10%) suffered from a lowering of recommendation from Citigroup analysts, who are worried about a possible slowdown in sales of the supermarket chain, in which the share of non-essential items (mainly excluding food) is greater than its competitors.
The secure document signing specialist DocuSign advanced (+1.37%), after the publication of results and forecasts that exceeded expectations, which reassured the market on the group’s trajectory as it emerges from the pandemic.
Netflix was wanted (+1.84%), after research firm Antenna reported a doubling of subscriptions in the United States in the week after the restrictions on the sharing of passwords were put in place. pass.
The electric vehicle manufacturer Lordstown progressed (+3.28%), after having indicated that it planned to sue the Chinese giant Foxconn to force it to take a stake in its capital, as it had initially committed, before go back.
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