New York (AFP)
The New York Stock Exchange, driven by Apple's progress as well as hopes for further monetary support and appeasement on the Sino-US trade front, ended higher on Wednesday.
Wall Street's flagship index, the Dow Jones Industrial Average, was even in the green for the sixth consecutive session, edging up 0.85 percent to 27,137.04 points.
The Nasdaq, with strong technological color, gained 1.06% to 8,169.68 points and the expanded index S & P 500 rose 0.72% to 3,000.93 points.
The indexes benefited from the 3.2% rise in shares of Apple, one of the giants of the coast, the day after the presentation of a series of products, including a new range of iPhone and a new generation iPad, as well as details on its video game and streaming platforms.
But after two near-sluggish sessions, the indices also benefited from a "change of tone in the markets, marked by the stabilization of the bond market, the decline in the commodities market and the rise in the stock market," said Karl Haeling of LBBW.
According to him, the stock market is "the best of both worlds".
"Fears of recession are moving away" because "the economy, without being in great shape, remains solid," he says.
At the same time, central banks remain accommodative and should probably present Thursday for the European Central Bank and next week for his US counterpart, new measures to support the economy, he adds.
Another encouraging sign: China announced Wednesday the cancellation of customs surcharges on 16 categories of products imported from the United States.
Even if key products such as soy or pork are not on the list, this decision bodes well before the resumption of negotiations between Washington and Beijing in early October. Donald Trump also hailed on Wednesday Beijing's decision to exempt certain US goods from punitive tariffs, seeing it as a "strong gesture".
In the bond market, the 10-year rate on the US debt rose slightly to 1.742% against 1.732% the day before closing.
© 2019 AFP