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Wall Street, hoping for a commercial truce, opens up

2019-09-09T14:20:50.813Z

Wall Street, hoping for a commercial truce, opens up



New York (AFP)

The New York Stock Exchange rose slightly to open Monday, still supported by the hope of a commercial easing and new monetary support measures.

The star index of the New York Stock Exchange, the Dow Jones Industrial Average, rose at 13:45 GMT by 0.08% to 26,818.23 points.

Nasdaq, with its strong technological color, was up 0.14% at 8,114.59 points and the broad S & P 500 index up by 0.16% at 2,983.36 points.

Wall Street continued its momentum after two consecutive weeks of growth for the main indices of the New York listing, the S & P 500 operating at less than 2% of its historical record.

After a complicated August, "better news on the front of the US-China trade war, combined with a continuing trend of largely better-than-expected economic data" contributed to this upturn Art Hogan, Head of Markets Strategy for National.

The announcement Thursday of a bilateral meeting between China and the United States in October was particularly important because "this ongoing trade war continues to be the number one risk for the markets," said the specialist.

"It's not just the tariffs" put in place by the two countries, "but the huge uncertainty associated with this issue that pushes companies to suspend any decision," he says.

Market players are also banking on central bank support.

Although he does not expect a short-term recession, Federal Reserve boss Jerome Powell said Friday, less than two weeks before a meeting of his Monetary Policy Committee, that his institution was ready to support US growth.

And investors expect the European Central Bank to announce new measures at its meeting on Thursday.

In the bond market, the 10-year rate on the US debt rose sharply to 1.617% against 1.560% Friday at the close.

The New York square was also animated Monday by the rise of the action of the US media and telecommunications group ATT (+ 4.43%) after the announcement by Elliott Management of a $ 3.2 billion investment . The activist fund is pushing for a new strategy that should boost, according to him, the action of 65% in two years.

© 2019 AFP

Source: france24

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