(News Bulletin 247) – Very good session on Wall Street: the initial gains doubled over the hours, but the ‘technos’ literally took off while the rates fell simultaneously (a most classic phenomenon, but which took an unusual magnitude on Tuesday).

The Dow Jones gained 0.85% beyond 34,850 points, the S&P 500 gained 1.45% at 4,497 (4,500 was hit a few minutes from the close, its highest since August 8) and the Nasdaq Composite came off nearly +1.75% at 13.944.

The Nasdaq-100 flirted with +2.2% (reaching a high since August 7) ​​in the wake of Tesla +7.7%, Nvidia +4.2%, Broadcom +3.4%, AMD and Oracle +3.2%, Applied Materials +3.1%, Alphabet and Meta +2.8%, Apple +2.2%.
Note the return of appetite for Small Caps with Russel-2000 up +1.42%.

US equities therefore rose against a backdrop of a symmetrical decline in bond yields while US consumer confidence deteriorated, its index calculated by the Conference Board having fallen from 114 to 106.1, where economists expected 116.

The index measuring the judgment of consumers on their current situation fell by 8.2 points to 144.8, while that of their expectations stood at 80.2 against 88 last month. The Conference Board recalled that an expectations sub-index below the 80 threshold is a harbinger of a recession, a scenario that it therefore continued to anticipate between now and the end of the year.

In addition, the ‘Jolts’ report, which compiles job offers in the United States, showed a contraction of an unexpected magnitude, even if a decline was logical at the end of summer when the holiday period s was coming to an end and there were far fewer requests from the hotel and catering industry.

Operators remained torn between the prospect of a rate hike in early November (consensus fell from 60% to 50% in 24 hours) in the United States, and signs of a slowdown in the global economy which could lead to Fed to consider easing the cost of money.

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