The New York Stock Exchange started sharply higher Thursday at the start of a day rich in corporate results and despite the announcement of a US GDP down in the first quarter.
Around 3:00 p.m. GMT, the Dow Jones index advanced by 0.45%, the Nasdaq, which is dominated by technology, rose by 0.77% while Meta (Facebook) pranced at +13%, boosted by the publication of its results the day before. . The S&P 500 advanced 0.78%.
On Wednesday, the Dow Jones closed modestly up 0.19% to 13,301.93 points and the broader S&P 500 index rose 0.21% to 4,183.96 points, while the Nasdaq almost stopped at the balance at 12,488.93 points (-0.01%).
“The market has been oversold and is ripe for a rebound,” said Patrick O’Hare of Briefing.com. The indices are on the way to posting a very bad month of April, a month that has historically been favorable to the markets.
At the close on Wednesday, the Nasdaq was down more than 12% over the month, the Dow Jones by almost 4% and the S&P 500, the most representative index of the American market, was down 7.65%.
Investors didn’t seem concerned about the disappointing first estimate of US Gross Domestic Product for the first quarter. US GDP contracted 1.4% year-on-year as inflation weighs on consumer spending.
This unexpected halt, while analysts were still hoping for growth of 1.1% from January to March, comes in the context of inflation exacerbated by the war in Ukraine and persistent supply problems.
We have to go back to the spring of 2020, when the Covid-19 pandemic emerged, to see a contraction in GDP.
– Twitter grappille –
Twitter grabbed 0.33% to 48.81 dollars. The group, which will come under the leadership of Elon Musk, the boss of Tesla, announced Thursday a turnover slightly below expectations in the first quarter but a significant growth in its number of employees. subscribers.
The social network, which will be bought for 44 billion dollars and of which it is undoubtedly one of the last publications of accounts since Elon Musk wants to withdraw it from the rating, recorded from January to March 1.20 billion dollars of revenues, less than the 1.22 billion expected by the market.
Its number of active users rose to 229 million, better than the anticipated 226.1.
McDonald’s was praised (+ 1.68% to 251 dollars), exceeding expectations in the first quarter thanks in particular to increases in the prices of its menus and despite 127 million dollars in costs linked to the suspension of its activities in Russia. The fast-food chain saw its turnover increase by 11% over the period, to 5.7 billion dollars.
The title of the American manufacturer of machinery, equipment and construction equipment Caterpillar fell 5.14% to 202 dollars, despite better than expected results, thanks to strong demand.
But the construction equipment giant expects less growth in its activities in China.
“The earnings chart is not exactly a field of sunflowers,” said Patrick O’Hare. “There are enough weeds that continue to raise doubts about the feasibility of full-year earnings growth projections,” the analyst added.
The title of the Moderna laboratory climbed 1.33% to 144 dollars after the group indicated that it had submitted an application for authorization in the United States to be able to administer its vaccine against Covid-19 to children between 6 months and 5 years old.
This is the last age group that cannot yet be vaccinated.
In the bond market, yields on 10-year Treasury bills were stable at 1.84%.
After the close, investors awaited quarterly numbers from Amazon, Apple and Intel.
Nasdaq