The Dow Jones index gained 0.03% to 33,573.28 points, the tech-dominated Nasdaq advanced 0.36% to 13,276.42 points and the broader S&P 500 index by 0.24% to 4,283.85 points, slowly rising to its new high of the year.

"We had a big jump of 600 to 700 points for the Dow Jones on Friday after the US jobs report," said Hugh Johnson of Hugh Johnson Economics.

"Now we are taking a breath because, in the eyes of some investors, this jump appeared a little exaggerated," commented the analyst.

The employment figures were positive with strong hiring (339,000) but also a slowdown in the increase in average hourly wages, which is favorable for inflation.

"It was a good combination. We could not have asked for better and the market reacted strongly" to the upside, said Mr. Johnson.

In addition to this breathing, the market was also "in waiting mode" before the inflation index to be published next week and especially the holding of a monetary meeting of the Fed, said Steve Sosnick Interactive Brokers.

There is almost a consensus that the central bank will pause on rate hikes, at least for this meeting on June 13 and 14, pending assessment of the evolution of credit conditions after the difficulties of the banking sector.

The analyst also sees investor interest in stocks other than large-caps.

Attractiveness of small caps

The Russell 2000 index, which includes small caps, ended up sharply (+2.69%), as did the regional banks. "I tend to think that brokers are looking for a rotation towards stocks that haven't risen too much yet," he explained.

Among regional banks, Comerica jumped 7.19%, Zions Bancorporation 4.87%.

Within the mega-caps, Apple stalled (-0.25%) after entering the metaverse the day before.

The Apple group announced Monday the launch of its first virtual and augmented reality headset, called Vision Pro that the manufacturer will sell for $ 3,500.

Just before the announcement, the Cupertino group, already the first capitalization of Wall Street, had reached the peak, historic in this area, of $ 2.850 billion before retracting. "It was typically a case of +we buy on the rumor and sell on the news+," said Sosnick's analyst.

Boeing fell 0.71% after a stabilizer assembly problem detected in the manufacture of the Dreamliner 787 that will "affect the schedule of deliveries in the short term," said the aircraft manufacturer.

But it is especially the world of cryptocurrencies that shook the market on Tuesday. After the legal attack of Binance, the largest exchange platform in the world, by the SEC on Monday for circumventing regulations, it was around Coinbase to be sued by the policeman of the Exchange.

The US Financial Markets Authority has sued the first cryptocurrency exchange platform in the United States, Coinbase, for non-compliance with the regulations.

"It exploded like a bomb," O'Hare said. Coinbase's stock on the Nasdaq fell 12.09% to $51.61.

The market watchdog accuses the platform, which has 110 million users, of not having registered with him as an exchange platform and intermediary of transactions in cryptocurrencies.

On the bond market, 10-year yields were stable at 20:30 GMT at 3.68%.

© 2023 AFP