New York (AFP)
The New York Stock Exchange rebounded Wednesday the day after its first decline in July, supported by several big names in the American technology sector.
Its flagship index, the Dow Jones Industrial Average, gained 0.68% to 26,067.28 points.
The Nasdaq rose 1.44% to finish at 10,492.50 points, a new record, taking advantage of the good health of several giants of the technological sector.
The titles of Amazon (+ 2.70%), Facebook (+ 1.13%), Apple (2.33%), Microsoft (+ 2.20%) and Netflix (+ 1.95%) have indeed all finished at an all-time high and Alphabet, Google's parent company, gained 0.92%.
The broad S&P 500 index, for its part, appreciated by 0.78% to 3,169.94 points.
If the indices ended in the green, the market played the roller coaster during a good part of the session of Wednesday, hesitating on the direction to take.
For National Securities Art Hogan, there is a "bitter struggle between investors who believe that the economic data improve in stages and in a linear way and the investors worried about the rise of the cases of Covid-19 listed" in the United United.
In this regard, the country passed the milestone of three million official cases on Wednesday, but the government of Donald Trump announces encouraging signs in some foci of the pandemic, which remain to be confirmed, and advocates a total reopening of schools at the start of the school year. .
Market players are also starting to focus on the second quarter results of companies listed on the S&P 500.
According to data from Factset, analysts expect their profits to drop by almost 45% between April and June.
However, according to Hogan, investors "know that (the results) are going to be very bad, but they are looking forward, not backward."
"This is what happened during the first quarter results and we saw the reaction of the market," said the expert.
On the bond market, the 10-year rate on the American debt was rising, standing at 0.6578% around 20.25 GMT against 0.6397% on Tuesday evening.
© 2020 AFP