New York (AFP)

The New York Stock Exchange was in good spirits on Wednesday after a very volatile start to the session, with all three indices ending up.

According to final results at the close, the Dow Jones index rose 0.68% to 34,814.39 points.

In the green for the first time in six sessions, the Nasdaq, with high technological concentration, advanced 0.82% to 15,161.53 points.

The S&P 500 gained 0.85% to 4,480.70 points.

After a very hesitant start, where the Dow Jones seemed to be heading for a seventh session of decline, investors seemed to regain confidence in the economy even as the momentum in US industrial production slowed in the hurricane-affected August Ida (+ 0.4% after + 0.8% in July) while retail sales figures in China disappointed.

“The market was a bit oversold recently and when we approached the 50-day S&P 500 average and the index held, the algorithms kicked in to initiate purchases,” said Tom Cahill of Ventura. Wealth Management.

The energy sector (+ 3.82%), associated with the rise in oil prices, led the increase but also the industrial sectors (+ 1.12%) and the materials sector (+ 1.10% ).

"If investors really felt that the economy was not doing well, they wouldn't buy companies like Freeport McMoran (+ 5.61% to $ 36.74) or Cleveland Cliffs (+ 4.30% to 23 , 02 dollars) ", summarized Mr. Cahill referring to these mining and steel groups.

"It's a vote of confidence in the global economy," he said for AFP.

The auto giants have also found colors like GM (+ 2.13% to 51.82 dollars) or Ford (+ 2.80% to 13.22 dollars).

Member of the Dow Jones, Microsoft (+ 1.68% to 304.82 dollars) helped the index of flagship stocks after announcing an increase in its dividend and especially a new share buyback program bringing up to 60 billion of dollars, which can be realized at any time.

The hotel group and casino operator Wynn Resorts plunged 6.30% to 86.44 dollars while the title of Las Vegas Sands Corp dropped 1.70% to 38.05 dollars following the tightening of the screws of the authorities China on the gaming industry in Macau.

The buyout of fintech Greensky by Goldman Sachs for $ 2.2 billion pushed the online credit specialist 53.15% to $ 11.90.

Goldman Sachs on the other hand remained in the red at 401.95 dollars (-0.43%).

The sneakers of the Swiss group On, of which the tennis star Roger Federer is a shareholder and ambassador, made an entry on the New York Stock Exchange on Wednesday on the hats of wheel, ending up 45.83% to 35 dollars, which allowed the brand to raise around $ 746 million.

Yields on 10-year Treasuries edged up to 1.30% from 1.28% the previous day.

© 2021 AFP