The Dow Jones gained 0.22%, the Nasdaq index gained 0.63% and the broader S&P 500 index rose 0.31%.

Wall Street took advantage of the rebound that began on Friday when the star indices had approached important technical thresholds, which had acted as a floor.

On Monday, investors set their sights on the most discounted stocks last week, notably mining companies Freeport McMoRan (+0.55%) or Cleveland-Cliffs (+4.56%) as well as more volatile stocks like Netflix ( +1.85%) or that of the electric vehicle manufacturer Rivian (+6.52%).

The New York market welcomed a lull in the bond market, after the surge recorded in recent days due to a recalibration of operators, who now see the American central bank (Fed) making three new rate hikes of one quarter point each by the summer.

After hovering around 4% earlier on Monday, at a more than three-month high, the yield on ten-year US government bonds eased to 3.92%, from 3.94% on Friday at the close.

This relatively peaceful climate has boosted technology stocks, which are very sensitive to interest rates which predict the conditions for financing their growth.

Semiconductors were particularly sought after, whether AMD (+0.87%), Texas Instruments (+0.95%) or Broadcom (+1.33%).

But the momentum seen early in the session waned over the hours, to the point that Dow Jones and Nasdaq eventually ended close to balance.

Investors welcomed the key indicator of the day, durable goods orders in the United States, which fell by 4.5% in January over one month, against an increase of 5.1% in December, a fall greater than economists' expectations (-3.6%).

The market mainly held on to the indicator excluding the transport industry, which posted a rise of 0.7% over one month, the most marked since March 2022. This figure “comes on top of the series of recent data which show that the The (US) economy is stronger than expected at the end of 2022,” Oren Klachkin of Oxford Economics said in a note.

“There are a lot of opposing currents at work right now,” according to Nick Reece of Guiness Global Investors.

"It's a puzzling day."

Generally speaking, investors lack conviction, due to the lack of clarity of macroeconomic indicators and company results.

"The orientation remains rather downward for the market", according to the analyst.

On the table of values, Tesla picked up speed (+5.46%), before Wednesday's investor day, during which the automaker is expected to make announcements.

The Seagen laboratory (+10.40%), at the forefront of innovative cancer treatments, soared after the Wall Street Journal reported on discussions for a possible acquisition by the American pharmaceutical giant Pfizer ( -2.32%).

Another meteorite of the rating, the railway company Union Pacific (+ 10.09%), which announced Sunday the next departure of the general manager Lance Fritz, whose alternative fund Soroban Capital Partners had claimed the head, against a background of poor performance. in the last trimester.

Manchester United slipped again (-9.22%), despite the first team's victory in the English League Cup on Sunday.

Since its ascent before the deposit of the takeover bids of the club listed in New York, in mid-February, the action has lost more than 22%.

© 2023 AFP