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Wall Street opens in the green, hoping for breakthroughs on the commercial front


Wall Street opens in the green, hoping for breakthroughs on the commercial front

New York (AFP)

Wall Street opened slightly higher Friday, financial players showing cautious optimism on the Sino-US trade record.

Wall Street's flagship index, the Dow Jones Industrial Average, gained 0.24 percent to 27,159.58 points around 14:00 GMT.

The Nasdaq, with strong technological color, was up 0.16%, to 8,196.27 points, and the broad index S & P 500 was 0.25%, to 3,014.41 points.

The New York Stock Exchange ended in a disorganized Thursday, investors digesting the decline in US key rates announced the day before by the US Central Bank (Fed): the Dow Jones was down 0.19% while the Nasdaq had reaped 0 , 07%.

The main indices of the New York listing benefited in particular Friday "information that the services of the Trade Representative (USTR) granted exemptions on 437 types of products imported from China," said Patrick O'Hare, Briefing.

A technical meeting was held Thursday in Washington between Chinese and American negotiators to prepare the bilateral talks scheduled for early October. A second meeting was scheduled to take place in the morning of Friday.

Wall Street also took advantage of the progress of Apple's title, including the latest iPhone model, the iPhone 11, is marketed this Friday. The company's action on the apple rose 0.4%.

The financial players also seemed reassured by the intervention of the Federal Reserve Bank of New York on the interbank markets Friday morning, the offer of the Fed almost equaled the demand, which was 75.5 billion.

This cash injection, the fourth such operation since the beginning of the week, aims to "keep rates on federal funds in the range of 1.75% to 2%," according to the New York Fed.

Market participants also listened to comments from several Fed members, who reacted to a quarter-point decline in overnight rates announced Wednesday.

Eric Rosengren, president of the Boston Fed, who opposed the decline, said the US economy "does not need additional monetary stimulus."

James Bullard, of the Saint Louis (Missouri) Fed, who was instead in favor of a larger drop of half a percentage point, said it would have been useful to "guard against further declines". expected inflation and against a slowdown in the economy that is subject to significant downside risks. "

On the bond market, the 10-year US debt rate was 1.768%, down from its previous day's closing of 1.784%.

© 2019 AFP

Source: france24

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