The Dow Jones Industrial Average gained 0.30% to 28,331.92 points. The Nasdaq appreciated 1.73% to 11,665.06 points. The S&P 500 gained 1.02% to 3,478.81 points.
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The New York Stock Exchange, hesitant at the start of the session, was finally dragged to new heights on Wednesday by the flagship stocks of the technology sector.
Wall Street’s flagship index, the Dow Jones Industrial Average, gained 0.30% to 28,331.92 points.
The Nasdaq, with strong technological coloring, appreciated by 1.73% to 11,665.06 points, ending at a record for the fifth session in a row.
The broader S&P 500 index, which represents the 500 largest companies in New York, gained 1.02% to 3,478.81 points, to finish at a new level for the fourth consecutive session.
“Once again, these are the same locomotives that have guided the market, Facebook (+ 8.2%), Tesla (+ 6.4%), Netflix (+ 11.6%), Amazon (+ 2.8 %), Apple (+ 1.4%), Alphabet (+ 2.4%), ”notes JJ Kinahan of TD Ameritrade. “It’s just amazing that these titles are still finding buyers. Netflix is soaring by more than 10% today and there is no news to justify it, ”he adds.
Generally speaking, “people have money to invest. And when we see that on the bond market the yield on 10-year rates is 0.65%, they turn to assets on which they can make at least a little gain, or receive a little dividends ” , he says.
The trend was also supported on Wednesday by better-than-expected quarterly results from software publisher Salesforce (+ 26.0%), IT company Hewlett Packard Enterprise (+ 3.6%) and the article chain of outdoor and sports Dick’s Sporting Goods (+ 15.7%).
As for the indicator of the day, orders for durable goods in the United States increased sharply in July, for the third month in a row after the April plunge due to Covid-19, increasing by 11.2% according to data from the Department of Commerce.
Investors are now awaiting a speech to be delivered by U.S. Central Bank President Jerome Powell on Thursday at the Jackson Hole Symposium, which usually brings together central bankers in Wyoming in late summer. but will take place this year online.
Promising vaccine
According to several analysts, he could signal in particular that the Fed would be ready to relax its control over inflation a little and not start raising rates as soon as prices start to increase a little more than the target of 2% set by the Central Bank.
Among the other values of the day, Israeli generic drug giant Teva fell 2.6%. The United States Department of Justice announced Tuesday evening that the group was being prosecuted for an illegal drug price cartel between 2013 and 2015, charges Teva denies.
Home goods chain Bed Bath and Beyond dropped 1.1% after announcing a restructuring plan to cut 2,800 jobs.
Cruise line Carnival lost 3.8% after announcing the cancellation of cruises in early 2021 on its ships Island Princess and Pacific Princess. The day before, the group had also indicated that its British subsidiary Cunard had extended the suspension of trips which were to resume in November, until March 25 on the Queen Elizabeth, April 18 on the Queen Mary 2 and May 16 on the Queen Victoria.
Laboratory Moderna, which said its potential Covid-19 vaccine showed promising results in a small trial in patients aged 56 and over, climbed 6.4%.
In the bond market, the 10-year rate on US debt rose to 0.6900% against 0.6835% Tuesday night.
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