The Dow Jones index rose 0.33% to 33,153.91 points, the technology-dominated Nasdaq gained 0.72% to 11,590.40 points and the S&P 500 gained 0.53%, returning to above- above the 4,000 point threshold (4,012.32 points).
“The session was on a rollercoaster ride, but the market rebounded mostly on tech and a return to higher energy prices,” said Art Hogan of B. Riley Wealth Management.
Seven of the eleven S&P sectors ended in positive territory, starting with technology (+1.65%), energy (+1.26%), in the wake of an advance in crude prices, and the real estate (+1.00%).
Bond yields eased following the tensions of the last few sessions, fueled by statements from members of the Fed and by the minutes of its last monetary meeting.
The ten-year rate fell to 3.87% from 3.91% the day before, around 9:15 p.m. GMT.
The rise in tech stocks was driven by positive surprises from microprocessor and software maker Nvidia, whose optimism regarding the development of artificial intelligence has won over the entire semiconductor sector. .
The title of the Santa Clara group in California soared 14.02% to 236.64 dollars.
The fourth quarter sales and results of this graphics card specialist exceeded expectations, despite a 46% drop in its turnover in video games. And for the first quarter, Nvidia expects 6.5 billion dollars in sales, once morest 6.35 billion forecast by analysts.
“From start-ups to large companies, there is a growing interest in the versatility and capabilities of AI,” said the group’s CEO, Jensen Huang, quoted in a press release.
The other heavyweights in the sector also saw their shares climb, from AMD (+4.10%) to Micron Technology (+3.11%) to Intel (+0.55%) and Qualcomm (+1.82). %). Mega-cap Microsoft gained 1.30%.
On the macro-economy front, the data was mixed on Thursday “with a downward revision of American growth in the 4th quarter, more sustained quarterly inflation and a moderation in weekly jobless claims”, summed up Art Hogan.
Weekly jobless claims were lower than expected at 192,000, down 3,000 and still showing a very tight labor market, adding to the tenacity of inflation.
At the same time, the second estimate of US GDP growth in the last quarter of 2022 has been revised down to +2.7%, once morest +2.9% initially estimated, reflecting weaker consumer spending.
PCE inflation, the Fed’s preferred measure of rising prices, has been revised upwards, showing consumer price growth of 3.7% in the fourth quarter of 2022 compared to the third quarter, compared to 3 .2% initially announced.
Friday, a host of important indicators will be watched: for January, the PCE index, household spending and sales of new homes, and for February, consumer confidence measured by the University of Michigan.
Elsewhere on the stock exchange, electric vehicle maker Lucid plunged 11.92% to $8.79 following missing its fourth-quarter 2022 shipments target. Rivian dropped 4.42%.
Moderna Laboratories lost 6.70%, as the vaccine manufacturer announced worse-than-expected sales and results in the fourth quarter of 2022, in particular due to a reduction in the volume of serum delivered once morest Covid 19.
Inflation reduced the appetite of pizza eaters, which hit Domino’s Pizza (-11.65% to 307.86 dollars), whose sales disappointed, and rubbed off on the title of the brand Papa John’s ( -6.11%).
