2023-11-10 21:39:46
A Wall Street plaque hangs in front of the New York Stock Exchange
The New York Stock Exchange ended up on Friday, driven by technology and growth stocks thanks to the easing of bond yields, before a new week rich in indicators.
The Dow Jones index gained 391.16 points (+1.15%) to 34,283.1 points.
The broader S&P-500 posted its biggest closing increase since September 19. It took 67.89 points, or 1.56%, to 4,415.24 points.
The Nasdaq Composite recorded an increase of 276.66 points (+2.05%), its largest percentage increase since May 26, to 13,798.11 points.
Showered the day before by the words of Federal Reserve Chairman Jerome Powell, “not convinced” that interest rates are high enough to fight inflation, Wall Street regained color while awaiting consumer price figures in the United States next week, as well as producer prices and retail sales which will allow investors to adjust their expectations on the trajectory of rates.
“In general, investors expect inflation numbers to be positive for the market and I think they want to be a little ahead of that,” says Rick Meckler of Cherry Lane Investments. in New Jersey.
Technology stocks posted the biggest increases, from Nvidia (around +3%) to Microsoft (+2.5%). The sector index gained 2.6%.
“People are looking for tech megacaps thinking that in an environment of high rates and a slowing economy, these companies are still the best choice and are willing to pay a premium for it,” adds Rick Meckler.
In values, genetic testing company Illumina fell 8% following lowering its annual targets for the second consecutive quarter.
(Jean-Stéphane Brosse for the French service)
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