by Chuck Mikolajczak
NEW YORK (Reuters) – The New York Stock Exchange rebounded on Friday before a long weekend due to a public holiday on Monday in the United States, allowing the S&P-500 and the Nasdaq to record a fifth consecutive weekly gain.
The Dow Jones index, which suffered its biggest percentage decline in more than a year on Thursday, gained 0.01%, or 4.33 points, to 39,069.59 points.
The broader S&P-500 gained 36.88 points, or 0.70%, to 5,304.72 points.
The Nasdaq Composite advanced 184.76 points (1.10%) to 16,920.79 points, a closing record.
Over the week, the Dow lost 2.3%, the S&P remained stable and the Nasdaq gained 1.4%.
American stock indices lost ground on Thursday due to macroeconomic indicators showing persistent inflationary pressures in the United States, likely to delay a rate cut by the Federal Reserve.
The Commerce Department nevertheless announced on Friday that new orders to the manufacturing industry had rebounded more strongly than expected in April in the United States while statistics from the University of Michigan showed an improvement in American consumers’ expectations in terms of inflation.
Nvidia gained another 2.57% after jumping more than 9% the day before following its forecasts inflated by prospects linked to artificial intelligence.
Other major capitalizations also supported the trend such as Apple (1.66%), Alphabet (0.83%) or Meta Platforms (2.67%).
Workday, on the other hand, plunged 15.33%, the provider of “human resources” software having lowered its forecast for annual turnover linked to subscriptions.
( Bertrand Boucey)
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