New York (AFP)

Wall Street ended in the green on Wednesday, spared the brief reversal of the US 2- and 10-year bond yield curve, which came at the end of the session and is seen as a harbinger of a recession.

Its flagship index, the Dow Jones, gained 0.93% to 26,202.73 points.

The Nasdaq, with strong technological color, took 0.90%, to 8,020.21 points, and the expanded index S & P 500 rose 0.82% to 2,924.43 points.

Shortly before the closing of the New York Stock Exchange, the interest rate on 10-year US Treasury bills temporarily dropped below the 2-year coupon rate.

This phenomenon, known as the "reversal of the yield curve", is feared by the financial markets, which generally see it as the leading indicator of a future recession.

By 2030 GMT, the 10-year rate had risen to 1.59%, while the two-year rate stood at 1.57%.

The reversal, which had already occurred last Wednesday and had plunged the stock market, however did not affect the main indices of the listing New York.

The indices were carried throughout the session by the solid financial results of several retail groups.

Target released Tuesday quarterly figures higher than analysts expectations. Its shares soared nearly 20.4% and finished at 103.20 dollars, its highest level ever reached.

Lowe's also reported better-than-expected results in the second quarter, benefiting from increased demand in the spring. The title of the specialist in home and garden products jumped 10.4%.

"This shows that despite signs of economic slowdown, US consumers remain confident, which is an encouraging sign," said National's Art Hogan.

Investors also reacted to the minutes of the latest monetary policy meeting of the US Federal Reserve (Fed), released Wednesday.

The US Central Bank has estimated that weak global growth and trade tensions may slow down the US economy, but the Fed should keep its "open options" on rate developments.

The Fed had cut rates by a quarter of a percentage point (0.25%) for the first time since 2008 at its last monetary meeting on July 31, saying according to the report, to take "insurance" on the dollar. future in the face of uncertainties over trade and the global economy.

In the minutes of this meeting, the Fed, which will meet again on September 18 to determine monetary policy, also said want not to think that the rates are "on a path marked out".

An overwhelming majority of analysts expect another cut in key rates as early as September 18.

© 2019 AFP