New York (AFP)

The New York Stock Exchange finished higher on Friday, with records for the Nasdaq and the S&P 500, seduced by the moderate tone of the president of the American Central Bank (Fed), who did not give a precise timetable for the withdrawal of measures to support the US economy.

The Dow Jones finished up 0.69% to 35,455.80 points, the Nasdaq, with a strong technological composition, 1.23% to 15,129.50 points and the S&P 500 0.88% to 4.509.37 points .

Speaking at the central bankers' symposium in Jackson Hole, Wyoming, Fed Chairman Jerome Powell on Friday raised the possibility that the Fed would reduce its purchases of gas by the end of the year. financial assets, put in place to counter the effects of the pandemic on the American economy, but without mentioning a precise timetable.

"It seems he (Powell) is very focused on rebuilding the job market, rather than inflation," commented Kim Forrest, chief investment officer at management firm Bokeh Capital Partners. .

"This means reducing asset purchases is a lower priority than investors initially thought," she added.

"Investors love a low interest rate environment, and that's what asset purchases do."

In addition, the central banker stressed that a reduction in asset purchases would not be a signal of an upcoming hike in key rates, leaving ample room for maneuver.

The prospect of this reduction was "already taken into account" by the operators, analyzed Tom Cahill, head of portfolio strategy for the management company Ventura Wealth Management, but "the fact that (Jerome Powell) did not tighten this schedule has been a relief for the market ".

"The Fed really insisted that reducing asset purchases did not equate to monetary tightening," commented Jack Ablin, head of investment at management firm Cresset Capital, "and we sounds like good news from an investor perspective. "

A sign of relaxation, the 10-year US government bond rate fell significantly, even plunging below 1.30% (1.29%), after having exceeded 1.37% a few minutes before the start of the speech. Jerome Powell.

Another sign of relaxation, the VIX index, which measures market volatility, fell after climbing Thursday.

At the odds, the specialist in exercise bikes and connected treadmills Peloton suffered (-8.55% to 104.34 dollars) after the publication, Thursday, of a quarterly loss higher than expectations and forecasts considered as disappointing.

The group has, in addition, announced Friday to be the subject of an investigation of the United States Department of Justice on its communication about treadmills at the origin of several incidents.

Computer maker Dell also ended the week poorly (-4.59% to $ 96.89) although it did better than expected in terms of revenue and net profit, investors turned worrying about statements about its supply chain under tension, like that of all players in the sector.

In contrast, among the tech stocks that have propelled the Nasdaq to new heights, semiconductor maker AMD gained 3.85% to $ 111.40.

When the action of the English professional football club Manchester United, listed on Wall Street, it had a good day (+ 5.76% to 18.28 dollars) after the announcement of an agreement with Juventus Turin for the transfer of star striker Cristiano Ronaldo.

© 2021 AFP