New York (AFP)
Wall Street finished in the green on Thursday after an indecisive start to the session, as more and more financial players expect the US Federal Reserve to lower interest rates after disappointing indicators.
Its flagship index, the Dow Jones Industrial Average, gained 0.47% to 26,201.04 points.
The Nasdaq, with strong technological color, gained 1.12% to 7.872,26 points and the broad index S & P 500 gained 0.80% to 2,910.63 points.
The New York Stock Exchange fell sharply Thursday, shortly after the opening, the announcement of a weakening than expected growth in activity in services in the United States
The non-manufacturing ISM index was 52.6%, 3.8 percentage points below its August level. Analysts were betting on a better score at 55.4%.
After disappointing Tuesday figures on manufacturing activity, at its 10-year low, and private sector job creation on Wednesday, financial players appeared to be worried about the slowdown in the US economy. .
But the main Wall Street indexes are on the rise, as more investors expect the Fed to lower interest rates to support the growth of the world's largest economy.
"Even though this week's economic data has been negative, it has increased the chances of the Fed cutting interest rates," said Peter Cardillo of Spartan Capital Securities.
According to a tool from the CME brokerage platform, investors now estimate at around 90% the probability that the Fed will reduce interest rates at its next meeting at the end of October, against around 50% a week ago.
Technical elements also allowed the New York Stock Exchange to rebound after two consecutive sessions of decline, says Cardillo.
In the bond market, the 10-year US debt rate stood at 1.536% around 20.20 GMT, down from the previous day's close (1.599%).
© 2019 AFP