Shortly after 4 p.m., the Dow Jones rose 1.17% and the S&P 500 advanced 1.89%, while the Nasdaq soared 3.03%.
The New York Stock Exchange opened higher on Friday, driven by a technical rebound after a week of sliding.
Around 2:05 p.m. GMT, the Dow Jones gained 1.17% and the broader S&P 500 index, 1.89%, while the tech-heavy Nasdaq index soared 3.03%.
Considering the mediocre course of the first four days of the week and a Dow Jones which remains on five consecutive declines, “it is not asking much” to hope for “a rebound”, pleaded, in a note, Patrick O ‘Hare, from Briefing.com.
With the latest figures showing significant outflows of capital from investors, both stocks and bonds, “this contributed to the idea that the market was, at a minimum, programmed for a rebound”, abounded Karl Haeling, of the LBBW bank.
“Have we found a floor, the end of the decline? It’s impossible to say. Probably not,” continued the analyst.
For Karl Haeling, operators were also relieved by the downturn in the cryptocurrency market, which had so far experienced one of the worst weeks in its history.
“People were worried that a cryptocurrency crash would have a systemic contagion effect” to all markets, according to the analyst.
After falling to 25,424 dollars on Thursday, barely more than half of its value at the end of March, bitcoin, the star of virtual currencies, was quite significantly above the symbolic threshold of 30,000 dollars.
“It should be a good day,” wrote Patrick O’Hare, a sentence that should nevertheless be put in the “conditional”, he specified. “There were other promising starts which then evaporated as the selling current returned.”
Wall Street regained some semblance of risk appetite, which was also reflected in the decline of the VIX index, which measures market volatility.
In agony in recent days, growth stocks pulled the Nasdaq, like Nvidia (+6.46%), PayPal (+5.34%), Meta (+3.13%) or Netflix (+3 .87%).
The “tech” was also supported by some good results, in particular those of the specialist in credit payment for online commerce Affirm (+ 29.99% to 23.45 dollars), whose quarterly turnover emerged higher than expected and the loss lower than expected.
As for the specialist in shared offices WeWork (+ 18.92% to 6.70 dollars), it reduced its loss in the first quarter and analysts at Piper Sandler estimated, in a note, that the group was approaching profitability.
Another takeoff, that of the online brokerage platform Robinhood (+ 21.20% to 10.38 dollars), which benefited from the announcement of a 7.6% stake in the blockchain entrepreneur Sam Bankman-Fried.
New episode of the Twitter saga, the takeover of which has been “temporarily” suspended by Elon Musk.
The entrepreneur says he wants to verify that fake accounts represent 5% of the total, as claimed by the blue bird group.
After having plunged into electronic exchanges prior to the opening of Wall Street, the title recovered a little (-10.15% to 40.51 dollars), supported by a new tweet from Elon Musk: “still engaged in this acquisition”.
Twitter is now worth 25% less than the price offered by Elon Musk, which testifies to the doubts of many investors as to the success of the operation.
By effect of communicating vessels, the Tesla action, of which Elon Musk is at the head, rose sharply (+4.56% to 716.19 dollars). The action had lost more than 23% over the previous six sessions.
On the bond market, rates rose after having fallen sharply since the start of the week. The yield on 10-year US government bonds was 2.92%, against 2.84% the day before.
“Government bonds have risen well this week (bond prices move in the opposite direction of their rates), so there is a small technical correction” in this market, explained Mr. Haeling.