The Dow Jones gained 0.86%, the tech-heavy Nasdaq index gained 2.08%, and the broader S&P 500 index advanced 1.45%, according to preliminary figures.

“The earnings season continues and absolute performance remains strong,” Schwab analysts noted, although “the relative deterioration (from previous quarters) is evident.”

In the spotlight, on Wednesday, Chipotle, CVS Health or Yum!

Brands all released numbers above expectations.

For Jack Ablin, head of investment strategy at Cresset Capital, Wall Street also benefited from the decline in bond yields, which had been stretched a lot for two weeks.

The benchmark rate for ten-year US government bonds thus stood at 1.94%, against 1.96% the day before.

“More and more American states are returning to the obligation to wear a mask with the improvement in the trend around Covid-19”, also noted, in a note, analysts from Briefing.com.

"These developments tend to benefit cyclical stocks (which outperform when the economy is doing well), but today the upside is broad," they added.

On Wednesday, two members of the monetary policy committee of the US Central Bank (Fed) estimated that inflation would slow, which removes, for operators, the risk of monetary tightening too brutal.

However, warned Jack Ablin, the mood could change on Thursday with the publication of the CPI price index, expected to rise sharply.

"That could be very hard for investors to swallow."

“We expect high year-over-year inflation in data tomorrow,” White House spokeswoman Jen Psaki said Wednesday.

A figure above 7%, "as some (economists) predict, would not be a surprise", she added.

On the side, Meta (Facebook) finally had a day in the green, (+5.37% to 232.00 dollars), after four consecutive sessions of decline.

Since the announcement of its results, Meta had lost almost 32% of its capitalization, or more than 420 billion dollars.

The other Nasdaq giants were also sought after, such as Alphabet (+1.61%) or Apple (+0.83%).

In their wake, technology and growth stocks had the wind in their backs, such as the graphics card manufacturer Nvidia (+6.36%) or the internet credit payment specialist Affirm (+14.45%).

On the Dow Jones side, tech was also at the forefront, with Microsoft (+2.18%), Intel (+2.25%) and Cisco (+1.72%), accompanied by Disney (+3.33%) , which published its results on Wednesday after trading.

The fast food chain Chipotle celebrated (+10.16% to 1,608.74 dollars) the publication Tuesday after the stock market of a turnover and a net profit above expectations.

The group has even managed to improve its margins, a challenge in catering, hit hard by inflation, by raising its prices by around 10% over the past year.

The pharmacy chain CVS Health did not benefit (-5.45% to 104.79 dollars), it, from results also higher than analysts' expectations, the confirmation of the 2022 objectives being considered conservative.

The group saw its turnover increase by 10%, largely thanks to the Covid-19 effect, its pharmacies administering tens of millions of tests and vaccines.

The VTC (passenger vehicle with driver) booking platform Lyft jumped (+6.80% to 44.00 dollars), after doing better than expected on its turnover but disappointed on the number of active users , which was down slightly quarter-on-quarter.

© 2022 AFP