New York (AFP)
The New York Stock Exchange, driven by some flagship stocks in the technology sector and encouraging indicators on manufacturing activity, took the Nasdaq and the S&P 500 to new levels on Tuesday.
The Nasdaq, with a strong technological coloring, appreciated by 1.39%.
The extended S&P 500 index rose 0.75%.
The Dow Jones gained 0.76% after posting its best August since 1984.
The indices were once again driven by a few flagship stocks in the technology sector, such as Apple (+ 3.98%), the group that is the most expensive on Wall Street, or the start-up Zoom, which jumped 40.78% after unveiling record results for the second quarter.
The Californian company, which offers videoconferencing software particularly popular since the start of the pandemic, saw its turnover explode by 355%.
Alphabet, the parent company of Google, also took 1.57%, Netflix 5.10% and Amazon 1.40%.
Brokers were also reassured Tuesday by the good figures for manufacturing activity, which reached its highest level for nine years in China in August and continued to recover in the United States over the same period.
These statistics reflect the continued recovery of the economy after the shutdown generated by the spread of the pandemic at the start of the year.
For the rest, "two elements will determine the fate of the market", according to Howard Silverblatt of S&P Capital Indices.
"The first is the anticipation of the election results, both for the composition of Congress and for the White House," he said.
The second problem remains "the market's ability to think that the economy will manage to rebound (after the low of Covid-19) and return to record results in the fourth quarter of 2021", adds the specialist.
"If, for some reason, the market has to change this anticipation, even if it is only a change of schedule, it will have to adjust," argues Mr. Silverblatt that this could "trigger strong jerks. "
© 2020 AFP