New York (AFP)

The New York Stock Exchange rose on Wednesday at the start of the session, recovering after a decline the day before and showing optimism on the health front after an announcement from the White House.

Around 2:00 p.m. GMT, its flagship index, the Dow Jones Industrial Average, rose 0.77% to 27,900.29 points.

The Nasdaq, with strong technological coloring, took 1.57% to 10,951.71 points.

The extended S&P 500 index appreciated 1.06% to 3,369.15 points.

Wall Street ended up in the red on Tuesday, weighed down by the decline of major technology stocks and pessimism around parliamentary negotiations on new measures to help Americans: the Dow Jones fell by 0.38% and the Nasdaq by 1, 69%. The indices had suddenly accelerated their losses in the last hour of the session.

"As experienced brokers will tell you, a violent about-face sometimes makes + the weaker + disappear and allows you to return to the original trend," notes JJ Kinahan, head of market strategy for TD Ameritrade.

“However, if there is one lesson to be learned in 2020, it is that volatility can manifest itself at any time. In this market, it seems that there is always enough uncertainty to consider clouds, even when the horizon seems clear "adds the expert.

One of the main reasons for Tuesday's pullback, Kinahan continues, was sector rotation of portfolios, which benefited cyclical stocks (airlines, cruise lines, tour operators, etc.) to the detriment of big names in tech.

Given the considerable stock market weight of certain groups such as Alphabet (the parent company of Google and YouTube), Amazon, Microsoft and even Apple, this has helped to pull the market down.

On Wednesday morning, these American tech giants were all on the rise.

Another factor of optimism for the market: the announcement on Tuesday evening by Donald Trump of a contract of 1.5 billion dollars for the delivery of 100 million doses of the experimental vaccine of the American biotech Moderna, the sixth contract of this kind since May.

Moderna shares rose 1.91% on Wall Street.

Among Wednesday's indicators, consumer prices in the United States rose 0.6% in July, as in June but more than expected, according to the CPI index published by the Department of Labor.

On the bond market, the 10-year rate on US debt rose to 0.6681% against 0.6415% Tuesday night.

© 2020 AFP