(New York) The New York Stock Exchange started the final session of a buoyant week for equities higher on Friday, after US inflation waned and strong banking results.
The Dow Jones index gained 0.45%, the tech-dominated NASDAQ which has driven the market for the past two sessions, advanced 0.62%. The extended index S
On Thursday, the Dow Jones had gained 0.14% to 34,762 points, the NASDAQ index had gained 1.58% to 15,705.25 points and the broader index S
After the slowdown in the consumer price index (CPI) to 3% over one year in June and then that of the PPI index of producer prices (0.1% over one month), it was the turn import prices to stall.
These fell 0.2% in June and are down 6.1% year-over-year, excluding any inflation imported into the United States.
Export prices are also down, at -0.9% over the month and -12% year on year, according to government figures released on Friday.
“The implications for monetary policy are minimal,” said Matthew Martin of Oxford Economics, while there is a 95% chance, according to the markets, that the American central bank (Fed) will raise its rates by another one. quarter of a percentage point at the end of July to place them between 5.25% and 5.50%.
“But given the level of CPI and PPI released this week, June data signals that inflation is moderating across the economy,” the analyst added.
This optimism about the evolution of inflation has translated into renewed enthusiasm on the stock market in recent days.
“To say the least, the market has been in good spirits this week, thanks to good inflation data, lower market rates and a broadening of investor interest in d ‘other stocks’ than the big names in tech, summed up Briefing.com’s Art Hogan.
Bond yields are stabilizing after a sharp decline to a two-month low this week on the back of good inflation news.
Those at ten years stood at 3.78% against 3.76%.
In other good news, consumer confidence, measured by the University of Michigan, rose sharply in June to the highest since September 2021.
On Friday, good bank results also solidified confidence, as the earnings season begins.
JPMorgan took 0.97% to 150 dollars after announcing a jump in its quarterly results due in part to the acquisition of First Republic.
The largest U.S. bank by asset size posted net income of $14.47 billion in the second quarter (up 67% year-on-year). Excluding First Republic, this figure increased by 40%.
The BlackRock investment fund, on the other hand, dropped 1.67% despite a jump in its profit on a turnover, however, in decline.
The Coinbase cryptocurrency trading platform, whose stock had soared by almost 25% the day before, continued in the green, but at a more moderate rate (2.69%)
Member of the Dow Jones, health insurer UnitedHealth climbed 7.10% after seeing an increase in profits in the 2nd quarter despite rising healthcare costs.
The group, which manages the health insurance of some 50 million Americans, has benefited from the partial privatization of retiree health insurance (Medicare Advantage) which is more economical for insurers, but which limits access to health care more expensive.
