(New York) The New York Stock Exchange moved in mixed order on Friday at the start of the session, still supported by the momentum born from the renewed confidence of investors in the trajectory of the American economy and their desire to take advantage of the movement at the rise.
Around 10:05 a.m. (Eastern time), the Dow Jones gained 0.24%, the NASDAQ index fell 0.07% and the broader index S
As for the Dow Jones, it ended Thursday at its highest closing level in more than six months.
Even though “the equity market has risen too much and is expected to correct soon”, many investors remain buy oriented, driven by fear of missing out, “fear of missing out” or “FOMO”. , according to Patrick O’Hare of Briefing.com.
“There was a lot of money in money market funds,” investment vehicles invested in short-term debt securities, for fear of uncertain economic conditions, “and that money was brought back into stocks,” added Quincy Krosby of LPL Financial.
After a very busy week in monetary policy indicators and communications, the news looked calm on Friday, with the only survey of the University of Michigan on consumer sentiment on the program.
For Quincy Krosby, the fact that the acceleration of the last few days has benefited a much wider range of values is a testament to investors’ sentiment that “the American economy is not sparkling, but it is not terrible either. “.
Furthermore, “the market does not believe” in another round of rate hikes from the US central bank (Fed) by the end of the year, although the vast majority of voting members of the institution reported on Wednesday.
The appetite for equities penalized bonds. Their rates moving in the opposite direction of their price, yields were thus up on Friday. The rate on 2-year US government bonds stood at 4.71%, against 4.64% on Thursday at the close.
On the side, Virgin Galactic was in orbit (33.50%) after the announcement of a first commercial flight on June 27, followed by another in August, the company then hoping to adopt a monthly rate. It offers passengers to spend a few minutes in space, before coming back down to earth.
The giant of creation software Adobe advanced (2.74%) after having published, Thursday after the stock market, results higher than expectations and raised its forecasts for its staggered financial year (from December to November).
The San Jose group says it is well positioned in the field of so-called generative artificial intelligence (AI), thanks to its language models and databases.
Generative AI continued to carry the world number one in graphics cards, Nvidia (1.72%), whose capitalization has tripled since the start of the year.
Also on board the IA ship, the American semiconductor manufacturer Intel (1.26%) was wanted after formalizing a $4.6 billion investment for the construction of a new site in Wroclaw, Poland.
The designer of connected objects iRobot, known in particular for its Roomba vacuum cleaners, was gaining height (20.10%) after the British competition authority, the CMA, approved its takeover by Amazon (-0.79% ), announced last August, for $1.7 billion.
The online music platform Spotify rose (3.68%). The group has announced that it will not be renewing its partnership with the princely couple Harry and Meghan, announced with great fanfare in 2020. It is a new signal of Spotify’s repositioning in podcasts, with fewer programs with stars and more reasonable spending.