(News Bulletin 247) – Wall Street generally benefited from solid data for the American economy on Thursday: the Dow Jones climbed 0.8% to 34,122 points and the S&P500 gained more than 0.4% to 4,396 points, while the Nasdaq Composite ended sluggish at 13,591 points.

Real GDP growth in the United States for the first quarter of 2023 has been revised to 2% at an annualized rate, compared to 1.3% in the previous estimate, thus marking a much less significant slowdown compared to the 2.6% of the last quarter of 2022.

The Department of Commerce explains this increase of 0.7 points, where economists were generally expecting confirmation of the estimate at the end of May, “mainly due to upward revisions to exports and consumer spending”.

In addition, the rise in the PCE price index was revised down by 0.1 point to +4.1% in raw data for the first quarter, as was that of the index excluding food product prices. and energy, thus reduced to +4.9%.

Another reassuring macroeconomic data of the session, the number of registrations for unemployment benefits in the United States fell by 26,000 last week, to settle at 239,000, according to the Department of Labor.

On the values ​​front, Micron Technology dropped 4.1%, the day after a quarterly publication by the semiconductor manufacturer marked by heavy losses, despite a rather confident tone from its management in terms of prospects.

On the other hand, Visa won 2.7% after the payment solutions group signed a definitive agreement to acquire Pismo, a Brazilian banking and payment services platform, for $1 billion. dollars.

Finally, JPMorgan Chase (+3.5%) and Goldman Sachs (+3%) benefited from the results of the banks’ stress tests, encouraging since they demonstrated that they had sufficient capital to face any further turbulence in the sector.

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