(News Bulletin 247) – The New York Stock Exchange ended Thursday’s session in the green, despite growth figures below expectations. The Dow Jones climbed more than 0.3% to 33,154 points and the Nasdaq Composite gained about 0.7% to 11,590 points.
The second estimate of US GDP for the fourth quarter of 2022 came out below its first reading, at +2.7% against +2.9%, with above all an upward revision of core inflation (PCE) .
‘This takes the markets ‘in the wrong way’ in the sense that growth turns out to be weaker and inflation higher than what was initially estimated,’ commented Christophe Boucher, director of investments at ABN Amro Investment Solutions.
‘Yet markets don’t seem to care that much as they believe it is unlikely to change the scenario of a soft landing and disinflation with an end to interest rate hikes in 2023’ , however, added the manager.
In terms of stocks, Nvidia jumped 14% after the group exceeded Wall Street expectations in its past quarter, mainly thanks to the strength of its data center chips, widely used by cloud specialists. .
On the other hand, Moderna unscrewed by 6.7%, the biotechnology laboratory specializing in mRNA having unveiled an EPS down 29% over the year 2022, against a backdrop of a 65% increase in its R&D expenditure. .
eBay fell 5.2% as the internet auction platform reported lower-than-expected forecasts in its quarterly reports, ‘due to continuing economic difficulties’, according to Mizuho Americas.
Finally, Dollar General fell 3.6%, as the retail group expected to publish results for its fourth quarter below the forecasts provided in its last quarterly publication on December 1.
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