(New York) The New York Stock Exchange ended higher on Friday, ending a positive week marked by the breach of an important technical threshold, ahead of a highly anticipated inflation indicator and a meeting of the American central bank (Fed).
The Dow Jones gained 0.13%, the NASDAQ Index gained 0.16% and the S Index
Thursday, the S
On Friday, the most representative index of the New York Stock Exchange failed, however, to finish above 4300 points, a new important technical threshold.
“This week, there were very few economic indicators and the market had to think for itself, for once, which was positive,” commented Quincy Krosby of LPL Financial.
For Maris Ogg, of Tower Bridge Advisors, it emerged that “the worst is behind us”, according to the analyst, meaning almost all of the monetary tightening and the banking crisis, even if investors are s are still expecting a deterioration in the economy.
“We also ended the debt crisis, […] which I think was weighing more on the market than people realized,” which pushed stocks on the back, noted Chris Low, of FHN Financial.
Another significant fact of the week, the movement was not dictated by a handful of giant technology capitalizations as since the beginning of the year.
In June, the index S
“It’s really encouraging to see a momentum that encompasses a larger portion of the market, because one of the things that really worried me so far was how concentrated the upside move was,” says Chris Low.
Another piece of evidence is the fact that equities withstood a sharp rise in bond yields, which followed Wednesday’s surprise tightening by the central bank of Canada (BoC).
The price of bonds thus fell when that of equities rose, a historically strong correlation but which had tended to break up in recent years.
The yield on 2-year US government bonds, more volatile than its 10-year equivalent, stood at 4.60%, compared to 4.51% the day before closing.
Operators expect a monetary status quo from the Fed next week, but anticipate a final rate hike in July.
This rally will be preceded by the publication on Monday of the CPI inflation index for May, which will provide information on the evolution of prices.
On the odds, Netflix advanced (2.60%) after research firm Antenna reported a doubling of subscriptions in the United States in the week after the sharing restrictions were put in place. Passwords.
Tesla continued to accelerate (4.06%), the day after the announcement that the manufacturer would open its network of charging stations to General Motors (1.06%) from the start of 2024. GM also plans to integrate into its models, in 2025, the charging standard used by Tesla.
The news penalized, on the other hand, the price of ChargePoint (-13.22%), operator of the first independent network of chargers in the United States.
Target (-1.10%) suffered from a lowering of the recommendation of Citigroup analysts, who are worried about a possible slowdown in sales of the supermarket chain, in which the share of non-essential items (excluding food mainly ) is greater than its competitors.
The semiconductor manufacturer AMD jumped (3.20%), while the Santa Clara group is due to present its innovations in artificial intelligence and data center management on Tuesday.
The Toronto Stock Exchange closed lower on Friday, dragged down by weakness in its industrials sector, while major U.S. stock indexes posted gains.
The composite index S
In the currency market, the Canadian dollar traded at an average rate of 74.96 cents US, up from 74.86 cents US on Thursday.
