Wall Street opens up, banking and oil in mind

published the 03/26/2021

PARIS (Reuters) – The New York Stock Exchange rose early Friday, benefiting from the simultaneous rise in oil prices and bond yields amid hopes of an economic recovery.

A few minutes after the start of the exchange rate, the Dow Jones index gained 145.73 points, or 0.45%, 32,765.21 points, the Standard & Poor’s 500 rose by 0.41% 3,925.43 points and the Nasdaq Composite took 0.22% 13,006.46.

At the same time, the yield on ten-year Treasury bills takes five basis points of 1.6654%. After a peak of 1.681%, it reduced its progression in reaction to the announcement of a sharper-than-expected drop (-1% while the Reuters consensus gave -0.7%) in household consumption expenditure in February.

Investors will watch 2:00 p.m. GMT for the final results of the University of Michigan household confidence survey.

Bank stocks are benefiting, in addition to rising yields, from the Fed’s announcement of a probable resumption of dividends and repurchases in the sector after the next tests of resistance: the S&P index of the sector rose by 1.2 %, JP Morgan Chase at 1.13% and Goldman Sachs at 0.85%.

Oils benefit from the impact on crude prices of the prolonged blockade of the Suez Canal: Chevron takes 0.72% and Exxon Mobil 1.38%.

(Marc Angrand, said by Patrick Vignal)

– .