(News Bulletin 247) – Wall Street started the week off on the right foot, as investors saw the past week, the worst in nearly three months for the S&P500, as an opportunity for some bargains amid optimism growing for the economic outlook.
The managers’ benchmark index, the S&P gained more than 1.1% to 4,137 points, after falling 2.4% last week, while the Dow Jones recovered 1.1% to 34,246 points, and the Nasdaq Composite gained nearly 1.5% to 11,892 points.
This Monday, European news particularly encouraged optimism: the European Commission raised its growth forecast for the euro zone in 2023, to +0.9% against a rate of only +0.3% expected last November .
While the US statistics calendar was empty today, market participants should pay attention this week to inflation, retail sales, industrial production and Conference Board leading indicators for January.
‘Inflation figures in the United States could change interest rate expectations’, pointed out Kiplink, mentioning a consensus for annual rates down slightly to 6.2% in raw data and to 5.5 % excluding food and energy.
In securities news, eBay rose 1.8% after the internet auction platform acquired 3PM Shield, a provider of advanced artificial intelligence-based product compliance solutions.
Uber, on the other hand, fell 2.5%, as the ride-hailing and delivery services platform chose Alphabet subsidiary Google and Oracle (+2.6%) to support the modernization of its cloud infrastructure. of data.
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