PARIS (Reuters) – The New York Stock Exchange opened higher on Friday on Wall Street as reassuring data on U.S. growth and inflation eased fears of a recession triggered by rate hikes by the Federal Reserve.
In early trading, the Dow Jones index gained 177 points, or 0.55%, to 34,311.70 points, the Standard & Poor’s 500 advanced 0.75% to 4,430.4 points and the Nasdaq Composite rose by 0, 97%, or 131.9 points, at 13,723.2.
The strength of the US economy was confirmed by data on GDP, up 2% in the first quarter, and falling jobless claims, which indicate that the labor market remains resilient.
Moreover, the PCE inflation data published on Friday did not surprise the markets, coming in line with the consensus and confirming that the process of disinflation is well under way.
“The economy has proven more resilient than we expected, largely driven by consumption, but (…) the economy is expected to slow as monetary policy tightening spreads,” analysts said. Bank of America economists.
In values, Nike lost 2.01% in the first exchanges, after having indicated that it expected zero or weak revenue growth this year while analysts on average had forecast an increase of 5.8%.
Apple gains 1.2% and crosses the threshold of 3,000 billion dollars in market capitalization.
(Report Corentin Chapron, edited by Blandine Hénault)
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