New York (AFP)
The New York Stock Exchange rose at the opening Friday in a market continuing to digest a major decision by the American Central Bank (Fed) and welcoming indicators of good performance.
Around 1:45 p.m. GMT, its flagship index, the Dow Jones Industrial Average, gained 0.30% to 28,579.11 points. He thus returned to his level at the start of the year.
The Nasdaq, with strong technological coloring, gained 0.47% to 11,680.19 points.
The broader S&P 500 index rose 0.28% to 3,494.18 points after finishing the previous day at a record for the fifth consecutive session.
Wall Street ended in disarray on Thursday as the Fed announced that inflation could stay above the 2.0% target “for a while” before acting by raising interest rates: the Dow Jones gained 0.57% while the Nasdaq retreated 0.34%.
“The rise in equities is largely due to actions by the Federal Reserve, which on Thursday gave the market another boost by announcing a policy change that actually means interest rates will stay near zero for a long time. "said JJ Kinahan of TD Ameritrade.
This turning point in monetary policy has in fact been well received by brokers in New York, who have been taking advantage of the Fed's low rates for several years to borrow at a lower cost.
On the indicator side, household spending in the United States slowed in July: slowed down by the resurgence of the Covid-19 pandemic, it only increased by 1.9% after 6.2% in June. But this increase is higher than the 1.5% expected by analysts.
Household incomes, for their part, increased by 0.4%, again exceeding the expectations of analysts who expected a drop of 0.2%.
On the bond market, the 10-year rate on US debt fell to 0.7178% against 0.7522% Thursday night.
© 2020 AFP