(New York) The New York Stock Exchange opened higher on Thursday, resuming its inexorable march forward after a pause on Wednesday, encouraged by macroeconomic indicators and the good results of semiconductor manufacturer Micron.
Around 10:10 a.m. ET, the Dow Jones was up 0.53%, the NASDAQ index was up 0.61% and the broader S index was up 0.61%.
On Wednesday, Wall Street had caught its breath, with the Dow Jones ending in the red after nine positive sessions in a row and five consecutive record highs at the close.
“The market is extremely strong,” commented Adam Sarhan of 50 Park Investments. “It should ebb, judging by all the technical data, but it refuses to bend. »
Many investors are converging on the stock market “for fear of missing out on a new rise”, according to this manager. “There is still a lot of money available, which is now invested in stocks. »
In addition to this fundamental movement, the New York market welcomed the downward revision of American growth in the third quarter, from 5.2% at an annualized rate to 4.9%, which reinforces the scenario of an economy less energetic American.
This new figure is lower than economists’ projections, which expected 5.1%.
Operators also noted, in the same Commerce Department report, that inflation had decelerated more than expected in the third quarter in the United States.
“This is encouraging for central bankers and it validates a more accommodating monetary positioning on the part of members of the Fed (American central bank),” reacted, in a note, Rubeela Farooqi, economist at High Frequency Economics.
Another element of support, “the good results (of microprocessor manufacturer) Micron, after the stock market” on Wednesday, according to Adam Sarhan. “It affects a lot of semiconductor companies and technology companies in general. »
Micron thus paraded (7.93%) after publishing better than expected results. CEO Sanjay Mehrotra said he is confident the group’s business will improve in fiscal 2024 (ending August) and expects record demand in 2025.
In its wake, its competitors AMD (1.91%), Intel (0.81%) or Broadcom (1.34%) stood out.
After having weakened on Wednesday, the stars of technology shone again, from Nvidia (1.53%) to Alphabet (1.02%).
Elsewhere on the stock market, Boeing (0.83%) was at a high of more than 30 months, driven by information from the specialist site The Air Current, according to which the Chinese regulator (CAAC) has authorized the delivery of 737 MAX aircraft. to Chinese companies.
According to Reuters, the aircraft manufacturer is also preparing to make its first delivery of the 787 Dreamliner to a Chinese company since 2021.
Warner Bros. Discovery (-5.83%) was still suffering from press reports according to which the media group had started discussions with a view to a possible merger with its competitor Paramount Global (-2.74%).
Fever is still rising in the cryptocurrency sector, in anticipation of a decision from the American market regulator, the SEC, relating to a request for approval of a new investment product, an ETF, invested in bitcoins.
A green light would boost investments in digital currencies, because it would allow you to benefit from variations in bitcoin without directly holding it.
Driven by this prospect, the cryptocurrency exchange platform Coinbase (1.72%) advanced, as did the “mining” (digital currency creation) company Marathon Digital Holdings (1.81%).
The cruise line Carnival took off (2.91%), after announcing results above expectations and saying it expected a record 2024, with two thirds of places already reserved.
The smartphone manufacturer and IT security provider BlackBerry fell (-11.34%) after disappointing analysts in its third fiscal quarter (ended at the end of November), despite increasing turnover.
The bond market was stable. The yield on US government bonds stood at 3.85%, compared to 3.84% at the close the day before.
NASDAQ
