New York (AFP)
The New York Stock Exchange was trying to bounce back on Monday shortly after opening after a week at half mast as the tech sector accelerated as bond rates eased a bit.
Around 3:00 p.m. GMT, the Dow Jones, which had opened in the red, gleaned 0.09%.
The technology-intensive Nasdaq advanced 0.83%.
The S&P 500 took 0.44%.
Friday, the Dow Jones index had given up 0.71% to 32,627.97 points.
The Nasdaq, which had suffered its biggest fall in three weeks the day before, had rebounded 0.76% to 13,215.24 points.
The S&P 500 dropped 0.06% to 3,913.10 points.
Rates on 10-year Treasuries eased slightly to 1.69% at the opening from 1.74% on Friday.
"Investors are looking to bounce back from last week's losses," Schwab analysts commented, noting that bond yields have "calmed down a bit."
"Information technology stocks are benefiting from this drop in rates," they added while these so-called growth stocks have suffered in recent weeks from fears of overheating and inflation which have strained bond yields.
Apple was up 1.50%, Tesla 5.60%, Netflix 1%.
Bank stocks, on the other hand, were all weighed down by the ebb in rates and by an announcement from the Fed on Friday.
The central bank decided it would not extend an exemption on capital reserves that helped banks lend during the height of the health crisis.
Bank of America, JPMorgan, Goldman Sachs all lost more than 1%.
The Kansas City Southern Railway company jumped 14.50%, after announcing on Sunday its marriage to Canadian Pacific Railway for $ 25 billion in cash and stock.
The two networks combined constitute the first rail freight network to join Canada, the United States and Mexico.
The Calgary company's stock was down 2.30%.
A negative indicator, home resales for February, which showed a steeper-than-expected drop (-6.6%), hardly alarmed investors.
This slowdown in real estate is due in particular to the extreme cold spell which paralyzed activities in part of the country.
© 2021 AFP