(New York) The New York Stock Exchange indexes are up at the open on Friday, after two positive sessions, in the wake of a moderation in inflation in February.
The Dow Jones advanced 0.51%, the tech-heavy NASDAQ 0.53% and the S
On Thursday, the Dow Jones gained 0.43% to 33,118 points and the NASDAQ gained 0.73% to 13,075.25 points, while the broader S index
Inflation slowed in February in the United States, to 5% year on year against 5.3% the previous month, according to the PCE index, a measure favored by the Federal Reserve (Fed).
On a month-to-month basis, price growth also slowed to 0.3%, slightly below analysts’ expectations of 0.4%, according to the consensus published by briefing.com. Household income, for its part, rose by 0.3%, while spending only increased by 0.2% against 2% in January.
“The Fed’s preferred inflation measure has come down from recent highs but remains well above the Fed’s target” of 2%, noted Rubeela Farooqi, chief economist for HFE. This shows “the slow progress of the [economy’s] response to the tightening of monetary policy”, further underlined the analyst.
For Patrick O’Hare of Briefing.com, this slow decline remains “an argument for further rate hikes” from the US central bank.
Friday was the final session of a quarter rocked by the banking crisis, prompting a comeback for tech stocks. It also pushes investors to close their portfolios in the green, analysts said.
“It appears that the general fear of systemic contagion from the regional banking crisis has dissipated thanks to the swift and effective actions of banking regulators to build confidence in the system,” commented Art Hogan of B. Riley Wealth. Management.
President Joe Biden had called on Thursday to strengthen banking supervision by restoring the obligation of stress tests for mid-sized banks.
“There are over 4,200 banks in the United States and it looks like the problem ones will only be a handful of them, those that had a high level of uninsured deposits coupled with poor risk management by management. “, further estimated Art Hogan.
On the side, all sectors of the S
The titles of the large retail groups were on the rise from Walmart (1.35%) to Macy’s department stores (1.18%) to the DIY chain Home Depot (1.14%).
Electric vehicle maker Nikola stalled steeply losing 13% to $1.22. The manufacturer announced the day before the sale of shares for 100 million dollars at a price lower than the listing on Thursday, in order to build up reserves.
On the bond market, yields on ten-year bills eased to 3.52% from 3.55% the day before.
