(New York) The New York Stock Exchange is moving higher on Friday, trying to maintain the momentum of the day before which saw the market cross a significant upward threshold, ahead of a week rich in events and indicators.
By 9:55 a.m. EST, the Dow Jones appreciated 0.13%, the NASDAQ index gained 0.93%, and the broader S
THE
“The market is going through an interesting transition,” commented LPL Financial analyst Quincy Krosby. “The mood has changed. Institutional investors, who were on the sidelines, are re-engaging. »
“The question everyone is asking is whether the good streak will continue,” said Patrick O’Hare of Briefing.com in a note.
“The answer will depend on economic data, corporate earnings growth and monetary policy,” he continued.
The indices triumphed on Friday over the wait-and-see attitude that threatened the New York market before a busy week in the news, with the CPI price index on Monday and the meeting, Tuesday and Wednesday, of the American central bank (Fed), which is expected a status quo.
For Quincy Krosby, the fact that the movement in recent days has been accompanied by small and mid caps, “more in direct contact with the economy”, is another positive sign.
Since the end of May, the Russell 2000, an index which includes small values, has gained more than 7%, whereas it has been stable so far since the beginning of the year.
Another notable marker, the equity market resisted the rise in bond rates, driven by the surprise hike in the key rate of the Canadian central bank (BoC) on Wednesday.
The yield on 10-year US government bonds was 3.76%, compared to 3.71% the day before closing.
On the stock market, Tesla continued to accelerate (5.63%), the day after the announcement that the manufacturer would open its network of charging stations to General Motors (3.60%) from the start of 2024. GM also plans to integrate into its models, in 2025, the charging standard used by Tesla.
The news weighed, on the other hand, on the course of ChargePoint (-11.19%), operator of the first independent network of chargers in the United States.
In addition to Tesla, the volatile values of the rating were at the party, from Airbnb (4.74%) to the cruise line Carnival (2.89%), via the specialist in connected bicycles and treadmills Peloton (14.58 %).
The flagship stocks of artificial intelligence were also celebrated, whether it was the graphics card manufacturer Nvidia (2.59%), the data analysis specialist Palantir (4.02%) or the software publisher C3 .ai (7.81%).
Target (-1.10%) suffered from a lowering of recommendation from Citigroup analysts, who are worried about a possible slowdown in sales of the supermarket chain, in which the share of non-essential items (mainly excluding food) is greater than its competitors.
The secure document signing specialist DocuSign advanced (1.37%), after the publication of results and forecasts above expectations, which reassured the market on the group’s trajectory as it emerges from the pandemic.
Netflix was wanted (1.84%), after research firm Antenna reported a doubling of subscriptions in the US in the week after password sharing restrictions were put in place .
The electric vehicle manufacturer Lordstown progressed (3.28%), after indicating that it planned to sue the Chinese giant Foxconn to force it to take a stake in its capital, as it had initially committed, before returning backward.
