New York (AFP)

The New York Stock Exchange confirmed regaining confidence on Friday posting its best week since the end of June, driven by good corporate results and positive US economic data.

According to final results on Wall Street, the Dow Jones index gained 1.09% to 35,294.76 points.

The index of flagship stocks has crossed the bar of 35,000 points for the first time in six weeks.

The Nasdaq index, with strong technological coloring, gained 0.50% to 14,897.34 points.

The broader S&P 500 index advanced 0.75% to 4,471.37 points.

Shares ended in the green "as investors digested a new round of positive corporate results and economic data," Wells Fargo analysts said.

Over the week, driven in particular by strong bank profits which entered the third quarter earnings season, the Dow Jones gained more than 1.50% and is now only 1% below its last record.

The Nasdaq posts a weekly advance of more than 2% and the S&P 500 of more than 1.80%.

"The banks have led the pace," summed up Peter Cardillo of Spartan Capital Securities as financial institutions have kicked off the results season with flying colors since Thursday.

Goldman Sachs (+ 3.80% to 406.08 dollars) posted a jump in profit of 63% thanks to the strong activity of its investment bankers around mergers and acquisitions or fundraising operations.

The bank posted a total net income of 5.28 billion dollars for a turnover of 13.61 billion dollars, up 26%.

Other bank stocks with the wind in their sails after their results included Wells Fargo (+ 6.84% to 48.41 dollars), Citigroup (+ 2.15% to 72.32 dollars), Bank of America (+2, 91% to 46.38 dollars).

"Some technology stocks have also climbed despite the rise in bond yields" in reaction to the surprise increase in retail sales in September, fueled by price increases in particular, said the economist of Spartan Capital.

Amazon gained 3.31% to $ 3,409.02.

Retail sales for September showed a solid and unexpected rise to 0.7% on a month-to-month basis, against an expected 0.3% decline, according to US Department of Commerce data.

August also revised upwards to + 0.9%.

Faced with these positive figures for consumption, the locomotive of US growth, yields on 10-year Treasury bills have however tightened to 1.5685% against 1.5107% at the previous close.

Because this rise in the value of retail sales also reflects the rise in consumer and energy prices.

- Tourism values ​​on the rise -

Among other indicators, markets have instead ignored the slowing growth in manufacturing activity in the New York area.

The Empire State index of the New York Federal Reserve has certainly lost 14.5 points to 19.8 points, a level lower than expected.

But manufacturers remain confident in the future.

Consumer confidence, according to the University of Michigan indicator, was also disappointing.

For early October, it came out less solid than expected at 71.4 against 73.5 expected and 72.8 in September.

The survey attributes this bout of weakness to the debt ceiling debate in Congress, which has undermined public confidence.

Actions in the tourism sector were boosted by the White House's announcement of the November 8 lifting of international travel restrictions for people vaccinated.

The TripAdvisor site climbed 1.42% to $ 37.86, Expedia 1.84% to $ 171.99 while hotel group Marriott International jumped 3.11% to $ 160.04 and Hilton Worldwide Hildings 2.05% to $ 144.48.

Next week, the market awaits earnings announcements from around 60 key companies as well as the publication of the Beige Book, the latest report from the US Central Bank (Fed) examining the economy, before its next monetary meeting on 2 and 3. November.

© 2021 AFP