New York (AFP)
Wall Street ended sharply higher on Tuesday, the measures taken by the Chinese authorities to stem the coronavirus crisis and limit its economic impact seeming to reassure investors.
Its flagship index, the Dow Jones Industrial Average, appreciated 1.44% to finish at 28,807.63 points.
The highly technological Nasdaq index, helped by a new flight by Tesla, gained 2.10% to reach 9,467.97 points, an unprecedented high.
The S&P 500, which represents the 500 largest companies on Wall Street, gained 1.50% to close at 3,297.59 points.
The New York Stock Exchange had already finished clearly in the green on Monday, regaining part of the heavy losses cashed Friday because of concerns related to the viral epidemic appeared in China and its possible consequences on growth.
"Even though the number of people exposed to the virus increased over the weekend, the scale was not enough to cause panic on Wall Street or to fuel fear of seeing China, or other countries, not being able to keep the situation under control, "said Tom Cahill of Ventura Wealth Management.
In the hope of reassuring the markets, the Chinese Central Bank has notably injected billions of cash in the past two days. And Beijing has continued to take very strict containment measures in an attempt to limit the spread of the virus.
At the same time, indicators showing on Monday that the activity of the manufacturing sector in the United States as in the euro zone had started to increase again in January "fueled the idea that if there had not been the coronavirus , global economic growth is already accelerating thanks to the partial trade agreement between the United States and China "in mid-January, said Cahill.
Aside from the mixed figures from Alphabet, Google’s parent company, released on Monday evening, “the corporate earnings season continues without major hiccups,” said the analyst.
Tesla's new leap, which rose 13.73% on Tuesday after having soared nearly 20% on Monday, is also contributing to the enthusiasm of brokers, he said.
As for the technical fiasco that prevented the Democrats from publishing the results of the presidential primaries held in Iowa on Monday as planned, "it comforts those worried that a progressive candidate could affect the market, arriving at the White House. , raising taxes or imposing laws harmful to businesses, "said Mr. Cahill.
© 2020 AFP