New York (AFP)

The main indices of the New York Stock Exchange reached new levels on Wednesday, market players being less worried about the economic consequences of the new coronavirus.

Its flagship index, the Dow Jones Industrial Average, took 0.94% to finish at 29,551.42 points.

The highly technological Nasdaq gained 0.90% to 9,725.96 points and the S&P 500, which represents the 500 largest companies on Wall Street, rose 0.65% to finish at 3,379.45 points

The toll of the viral pneumonia epidemic now exceeds 1,100 deaths. But the number of new daily cases has declined over the past three days, according to data from the Chinese Ministry of Health released Wednesday.

Chinese President Xi Jinping Welcomed What He Called "Positive Evolution"

"If the contagion rate slows, it's positive for the markets," observes Gregori Volokhine of Meeschaert Financial Services.

The coronavirus epidemic, officially dubbed "Covid-19", was among the topics discussed by the head of the Federal Reserve (Fed) Jerome Powell, who spoke to American senators Wednesday, the day after his hearing by the Finance Committee of the House of Representatives.

The President of the American Central Bank said he was confident about the state of the economy of the country, emphasizing in particular the strength of the labor market.

Powell noted, however, that wage growth remains weak and that the number of Americans with two or more jobs is very high.

Investors were also reassured, according to Volokhine, by the results of the New Hampshire Democratic primary on Tuesday, where socialist Bernie Sanders came out on top before Pete Buttigieg.

"Wall Street is convinced that Sanders has no chance against Donald Trump. That he is leading in the race for the White House of the Democratic Party reassures the markets," said Mr. Volokhine, adding that many brokers are anticipating a continued rise in the markets if Donald Trump is re-elected in November.

On the bond market, the 10-year rate of American debt increased, standing at 1.630% around 9:20 p.m. GMT against 1.601% the day before at the close.

© 2020 AFP