The Dow Jones index gained 1.12% to 30,523.80 points, the Nasdaq 0.90% to 10,772.40 points and the broader S&P 500 index 1.14% to 3,719.98 points, according to final results.

"The banks reported good results and that fueled optimism, but I wonder if this uptrend isn't simply a case of a technical rebound in a generally bearish market," doubted Karl Haeling of LBBW.

US equities were off in the red hat at the start of the session, with all three indexes sailing well above 2% but they lost ground during the day.

“I noticed that the commodities sector was generally in the background,” noted the LBBW analyst for AFP, recalling that crude prices took a nosedive when press reports reported that the White House was going to once again draw on the strategic reserves of black gold.

Asked by AFP, the White House declined to comment and the Ministry of Energy did not respond.

President Joe Biden's spokeswoman, Karine Jean-Pierre, simply indicated that the head of state would make "an announcement tomorrow", without further details.

Another press information, concerning Apple which intends to reduce its production of iPhone 14, also cooled the Nasdaq.

The title of Apple which pranced above 2.3% in the morning, stalled a little to finish up 0.94% to 143.75 dollars.

According to the specialized information site, The Information, the Cupertino company is preparing to reduce its production of iPhone 14, after a reassessment of global demand and has already ordered one of its subcontractors in China to stop production. manufacture of certain components.

"Overall, for the economy in general, a concern remains, it is that of China", summed up Karl Haeling.

Beijing "is not going to change its zero tolerance policy towards Covid anytime soon, so we will have to wait until next year before we see the Chinese economy resume its growth", has said the analyst.

However, the equity market had a strong start to the week on the back of better than expected corporate results.

Goldman Sachs (+2.46%), the last major bank to publish its quarterly accounts, posted lower results, but better than expected, and announced a new reconfiguration of its activities.

The other major banks which had published results the day before also exceeding expectations continued to rise, such as Morgan Stanley (+3.02%), JPMorgan (+2.56%) and Bank of America (+3.81%).

The title of Lockheed Martin jumped 8.81% to 432.32 dollars after the American arms group announced stronger net earnings per share than expected by analysts, helped by its aeronautics division which manufactures planes F-35 fighter.

Carried by the ambient optimism but perhaps also by the fact that the Amazon Labor Union (ALU) failed to establish itself in one of its warehouses in the State of New York, the e-commerce giant Amazon has gained 2.26%.

After the market closed, Netflix, which had closed down 1.73% to 240.86 dollars, soared in electronic trading (+14%).

The streaming leader exploded expectations by gaining 2.4 million additional subscribers during the third quarter.

This result well beyond its forecasts represents a victory for the streaming veteran who had lost nearly 1.2 million between January and June.

The platform now has more than 223 million subscribers, surpassing its record at the end of 2021 (221.8 million).

Bond yields were quiet, with that on ten-year Treasury bills coming in at 3.99% versus 4.01% the previous day.

© 2022 AFP