(New York) The New York Stock Exchange was trading slightly higher on Monday, at the start of a week truncated by a public holiday in the United States (Thanksgiving Thursday), which promises to be calm in the absence of indicators or major results.
Around 10:20 a.m. ET, the Dow Jones was up 0.18%, the NASDAQ was up 0.51% and the broader S index was up 0.51%.
“After last week’s acceleration in stocks and bonds, the markets are consolidating,” commented Karl Haeling of LBBW.
In two weeks, the S
As for bond rates, since crossing the symbolic 5% threshold at the end of October, the yield on 10-year US government bonds has fallen by more than 0.6 percentage points.
It stood at 4.46% on Monday, compared to 4.43% closing on Friday.
This drop in rates reflects a market rebound, with bond prices moving in the opposite direction to their yields.
“The market is doing very little today, but that’s mainly because it has advanced a lot since the end of October,” added Patrick O’Hare of Briefing.com in a note. “He needs a break. »
“Conviction is lacking at the moment, which means that the flagship indices should move within tight margins,” continued the analyst.
“It’s going to be a shortened week, with Thanksgiving on Thursday and a lot of people will make the bridge on Friday,” warned Karl Haeling, for whom the market nevertheless remains well oriented.
For him, the bond market has become wait-and-see because it questions investors’ appetite for new issues of American debt at lower rates than a few weeks ago.
“But stocks don’t necessarily need to see bond yields continue to fall to continue their progress,” says the analyst. “Investors just want them to not go up. »
On the stock market, Microsoft rose (0.59%) after the announcement of the hiring of the co-founder and former general director of OpenAI, Sam Altman, removed from the young company on Friday by the board of directors.
The Redmond (Washington State) group, whose action reached a record on Monday, took advantage of this crisis to further establish its position as a driving force in so-called generative artificial intelligence (AI).
Microsoft ($2,771 billion) is now within reach of the world’s largest capitalization, Apple (2,969).
Other AI stars such as the data analysis group Palantir (3.86%) or the graphics card manufacturer Nvidia (0.81%), followed in Microsoft’s wake.
A sign of a certain appetite for risk, volatile values were noted, such as the cryptocurrency “miner” Marathon Digital Holdings (3.50%), the electric vehicle manufacturer Rivian (1.62%) or the Brazilian online bank Nu (1.05%).
Elsewhere, the Bristol Myers Squibb laboratory fell (-2.17%) after the announcement of the postponement of a decision by the American Medicines Agency (FDA) concerning the expansion of cases of use of its treatment against cancer Abecma, developed in collaboration with biotech 2seventy bio (-16.90%).
