New York (AFP)
The New York Stock Exchange was clearly in the green on Wednesday morning after a mixed opening, driven by strong quarterly results from US banks JPMorgan Chase, Goldman Sachs and Wells Fargo.
Around 2:10 p.m. GMT, the Dow Jones Industrial Average rose 0.55% to 33,862.90 points.
The Nasdaq gained 0.26% to 14,031.81 points and the S&P 500 appreciated 0.20% to 4,149.97 points.
"The first wave of big banks' first quarter results is about as good as analysts expected. In fact, it is even better than expected," said JJ Kinahan of TD Ameritrade.
Members of the Dow Jones, JP Morgan Chase (-0.49%) and Goldman Sachs (+ 3.84%) recorded impressive profits between January and March, the first thanks to the significant reduction in these reserves set aside since. the start of the pandemic and the second thanks to the good performance of its traders.
Wells Fargo (-0.06%) also reaped strong profits, also driven by the decline in its reserves to deal with unforeseen events.
Mr. Kinahan observes that "the market as a whole seems to be supported by these results after moving in loose order last night" in futures trading.
Citigroup and Bank of America will report their results Thursday, Morgan Stanley will comply with this exercise sell.
Market players are also awaiting comments from Federal Reserve boss Jerome Powell, who is due to speak in the middle of the day from Washington.
All eyes were also on the cryptocurrency exchange Coinbase, which is set to take its first steps on Wall Street on Wednesday.
The Nasdaq on Tuesday night set the company's benchmark price at $ 250, which could put its value at $ 65.3 billion, the largest capitalization for an American company's IPO since Uber in 2019.
Among today's values, biotech Moderna climbed 4.15%.
The firm announced on Tuesday that its vaccine was 90% effective against Covid-19 and 95% against severe forms of the disease, according to new results, a slight decrease compared to a previous clinical trial.
© 2021 AFP