The New York Stock Exchange closed the last session of the second quarter clearly in the green on Tuesday, recording its highest increase in three months in over two decades.
Its flagship index, the Dow Jones Industrial Average rose 0.84% to 25,812.88 points.
The Nasdaq, with a strong technological coloring, rose 1.87% to 10,058.77 points.
The S&P 500 extended index gained 1.54% to 3,100.29 points.
Between April and June, the Dow Jones gained almost 18%, unheard of since 1987, the Nasdaq climbed 31%, its strongest quarterly increase since 1999, and the S&P 500 gained almost 20%, its leap the largest in three months since 1998.
After reaching lows at the end of March, when most American states have taken strict containment measures to stem the Covid-19 pandemic, major New York indices began a spectacular and almost uninterrupted rise.
Despite the increase in the number of cases of contamination in recent days in the United States, especially in the south and west of the country, Wall Street has not faltered.
“It is estimated that it is possible to flatten the curve without going through a new period of containment,” says Patrick O’Hare of Briefing.com.
Investors on Tuesday followed the hearings before the House of Representatives of the President of the Federal Reserve (Fed), Jerome Powell, and the Secretary of the Treasury, Steven Mnuchin.
Powell said the US economy has rebounded earlier than expected, but many uncertainties continue to weigh on the recovery.
Mnuchin, for his part, announced that the Trump administration will soon begin discussions with the Democrats with a view to adopting a new economic assistance plan which must focus on the most critical sectors. fragile.
Among the indicators released Tuesday, American consumer confidence improved significantly in June thanks to the reopening of the economy, according to the Conference Board index.
Economic activity in the Chicago area, with a strong manufacturing dominance, resumed colors in June without returning to growth, still affected by the impact of the Covid-19 pandemic, according to the directors’ index. ISM association purchases.
On the bond market, the 10-year rate on the American debt rose, settling at 0.6561% around 20.45 GMT, against 0.6234% Monday evening.
– Boeing lands –
Among the values of the day, the semiconductor manufacturer Micron (+ 4.83%) rose sharply after having reported better than expected quarterly results and delivered prospects above expectations for the rest of the year.
Wells Fargo (-0.39%) fell after indicating that the amount of dividends paid to its shareholders in the second quarter would be reduced. This announcement follows the bank stress tests conducted by the Fed.
The other major American banks, Goldman Sachs (+ 2.15%), Bank of America (+ 1.54%), Morgan Stanley (+ 2.24%), JPMorgan Chase (+ 1.14%) and Citigroup (+ 1.61%) however decided to maintain the amount of their dividend.
Boeing (-5.75%) fell after jumping the day before in the wake of the first certification flight of the 737 MAX, plane grounded for more than a year after two fatal accidents.
Norwegian Air Shuttle has canceled orders for 97 737 MAX and 787 models and intends to seek financial redress from the American aeronautical giant.
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