PARIS (Reuters) – The New York Stock Exchange opened in the green on Thursday, continuing the upward trend of the day before which saw the S&P-500 index once again cross the 5,000 point mark, while bond yields continue to rise. display a fallback.
In early trading, the Dow Jones index gained 108.2 points, or 0.28%, to 38,532.47 points and the broader Standard & Poor’s 500 rose 0.21% to 5,011.13 points.
The Nasdaq Composite nibbles 0.02%, or 3.93 points, to 15,863.076.
On the bond market, the yield on ten-year Treasuries contracted by 6.2 basis points, to 4.2046%, which favors technology stocks like Nvidia, which on Wednesday dethroned Alphabet as the third largest capitalization in the world. Wall Street.
The sharper-than-expected decline in retail sales in January (-0.8%) and the unexpected drop in industrial production last month also fuel hopes of an impact of rising interest rates on economy, which could encourage the Federal Reserve (Fed) to ease its monetary policy more quickly.
The interventions of the Governor of the Fed, Christopher Waller, and the President of the Atlanta Fed, Raphael Bostic, planned for the day, will be particularly scrutinized in this regard.
Investor optimism is also fueled by company publications, while among the S&P 500 companies that have already published, almost 80% of them have exceeded profit expectations, according to LSEG data, compared to a annual average of 76%.
Against the trend of the latest publications in the technology sector, Cisco Systems lost 2.80%, the network equipment manufacturer having lowered its annual turnover forecast.
Deere fell 4.55%, also penalized on its profit forecast for 2024.
Tripadvisor jumped 6.39% after publishing fourth-quarter revenue and profit above expectations.
Occidental Petroleum rises 1.16% after exceeding expectations with its profit for the fourth quarter.
ARM, which received $147.3 million in investment from Nvidia, gained 2.82%, while Recursion Pharmaceuticals, which received nearly $76 million from the American chip giant, climbed 5. 91%.
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(Writing by Claude Chendjou, edited by Kate Entringer)
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