(Reuters) – The New York Stock Exchange ended up on Friday on Friday increased, the Dow Jones index finishing at a closing record, after the speech of the president of the federal reserve Jerome Powell at the Jackson Hole symposium, which strengthened the anticipations of lower interest rates in September in the United States.
The Dow Jones index won 1.89%, or 846.24 points, at 45,631.74 points. The Standard & Poor’s 500, wider and main reference of investors, took 96.74 points, or 1.52% at 6,466.91 points. The Nasdaq Composite, with a strong technological component, advanced on its side of 396.22 points, or 1.88% to 21,496.535 points.
Over the week, the DOW won 1.5% and the S&P-500 0.3% while the NASDAQ sold 0.6%.
The S & P-500 notably ended a series of five consecutive decreases of decline fueled by a sales movement on large high-tech capitalizations.
If Jerome Powell tried to Jackson Hole to highlight the importance of employment and inflation indicators before the next meeting of the Fed monetary policy committee on September 16 and 17, his declarations on a possible “adjustment of our policy” with regard to the evolution of the risk balance were quickly interpreted by investors as the sign of a drop in mid-September rates in the United States.
The probability of a monetary easing of the Fed next month is now estimated at almost 90% against around 75% before the intervention of its president.
Following these declarations, the dollar has weakened, the yields of American treasury bills relaxed and the stock market clues climbed, in particular the values ​​of the major technological capitalizations, while the Russell 2000 index of the small capitalizations affected a higher since the beginning of the year.
Ten of the 11 sectoral indices of the S & P-500 ended up, the discretionary consumption sector displaying the main progression.
To individual values, Intel took 5.53% after the announcement by Donald Trump of a public investment up to 10% to the capital of the flea giant, in difficulty for several months.
(Written by Carolina Mandl in New York, Shashwat Chauhan and Sanchayaita Roy in Bangalore, with Sukriti Gupta, Bertrand Boucey)
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