On Wall Street, Nasdaq and S&P 500 quietly break records - France 24

New York (AFP)

Wall Street finished close to balance on Tuesday, the Nasdaq and the S&P 500 reaching unprecedented levels in passing, after a session marked by the hearing of the head of the Federal Reserve in front of American parliamentarians.

Its flagship index, the Dow Jones Industrial Average, fell less than a point to finish at 29,276.34 points.

The highly technological Nasdaq gained 0.11% to 9,638.94 points and the S&P 500, which represents the 500 largest companies on Wall Street, rose 0.17% to finish at 3,357.75 points , both indices ending at records for the second session in a row.

"The brokers had their eyes riveted on the testimony of Fed President (Jerome) Powell, but he did not make a really notable announcement. This is why the indices have changed little today", judge Alan Skrainka of Cornerstone Wealth Management.

The head of the Fed welcomed the state of the US economy and an adequate monetary policy. However, he once again drew the wrath of Donald Trump on Twitter, who is calling for a rate cut and accusing the Fed of slowing the growth of the world's largest economy.

Before the House of Representatives, Powell also spoke of the risks posed by the new coronavirus, saying that the epidemic "could cause disruption in China with repercussions on the rest of the world economy".

In New York, market players do not seem particularly concerned, the Nasdaq and the S&P 500 closed Tuesday up for the sixth time in seven sessions.

"There are concerns about the virus and its impact on global growth. But based on past experience, I don't think there is any reason for investors to panic or act on it. irrational way, "said Skrainka.

The toll of the epidemic crossed the mark of 1,000 dead on Tuesday, but the WHO estimated that there was a "realistic chance of stopping" the spread of the virus, although the latter remains a "serious threat" for the world, according to the organization.

On the bond market, the 10-year rate on the American debt rose to 1.595% around 21.25 GMT, against 1.570% the day before at the close.

© 2020 AFP