(New York) The New York Stock Exchange ended higher on Thursday, relieved by the combined decline in bond rates, oil prices and the dollar, without looking further ahead.
The Dow Jones rose 0.35%, the NASDAQ index rose 0.83% and the broader S index rose 0.83%.
“Throughout this week, investors were on edge because the (American) 10-year rate was making record highs. And today, the three biggest market headwinds in recent times, rates, oil prices and the dollar, have all lost ground,” said Angelo Kourkafas of Edward Jones.
After jumping to 4.68%, a first in almost 16 years, the yield on 10-year US government bonds eased to 4.56%, a major drop in a market where variations are often measured in basis points (0.01 percentage points).
The price of black gold fell significantly, with a barrel of American West Texas Intermediate (WTI) dropping more than 2%.
As for the dollar, it has finally taken a break, after trampling on most of the world’s major currencies.
“It’s a rebound of relief,” described Angelo Kourkafas.
As is often the case, the tech giants led the way, whether Nvidia (1.46%), Meta (2.09%) or Alphabet (1.27%).
However, operators do not plan beyond this small burst.
“We’re walking on a tightrope right now,” summed up Bryant VanCronkhite of Allspring Global Investments. “This is an unprecedented time in terms of the number of things impacting the economy. »
For the manager, the central scenario is no longer that of a soft landing, long hoped for by the American central bank (Fed) and Wall Street.
The brutal credit crunch and slowdown in public spending constitute “a more difficult context” than the one that made a gradual and smooth deceleration possible. “And investors need to prepare for that. »
On the stock market, Boeing suffered (-2.57%) after the general manager of the low-cost airline Ryanair, Eddie Wilson, reported delays in the delivery of aircraft ordered from the American manufacturer.
Semiconductor manufacturer Micron struggled (-4.41%), as investors worried about a higher-than-expected loss forecast for the current quarter, even though the Boise (Idaho) group did better than expected in the previous quarter.
Symbol of the wave of “meme stocks”, these actions propelled by small investors in early 2021, the video game store chain GameStop did not benefit (-1.81%) from the appointment to the position of general manager of the entrepreneur Ryan Cohen, appreciated by the small carrier community.
The consulting group Accenture was sanctioned (-4.33%) for its quarterly turnover lower than analysts’ expectations and sales forecasts considered disappointing for the current quarter.
The specialist in exercise bikes and connected treadmills Peloton started in a sprint (5.37%) after the announcement, Wednesday after the stock market, of a five-year partnership with the sports equipment manufacturer Lululemon Athletica (-0, 04%), which has become a cultural reference for its yoga pants.
After initially seeking to compete with each other, the two houses will remain on their core business and sell their partner’s products.
The Toronto Stock Exchange regained some of its recent losses on Thursday, closing with a gain of more than 150 points, while the major American stock indices also ended up.
The composite index S
In New York, the Dow Jones industrial average rose 116.07 points, or 0.35 percent, to 33,666.34 points, while the broader S
On the currency market, the Canadian dollar traded at an average rate of 74.11 US cents, up from 73.99 US cents the day before.
On the New York Mercantile Exchange, crude oil prices fell US$1.97 to US$91.71 per barrel, while natural gas prices rose 5 US cents to US$2.95 per barrel. million BTUs.
The price of gold fell US$12.30 to US$1,878.60 per ounce and copper rose 7 US cents to US$3.71 per pound.
