(New York) The New York Stock Exchange ended on a positive note on Tuesday, with two of the three major indexes in the green, Wall Street overcoming fears of escalation in the conflict between Ukraine and Russia.
Posted at 9:41 a.m.
Updated at 4:59 p.m.
The NASDAQ and S&P 500 indices gained 1.04% and 0.40% respectively, while the Dow Jones ended slightly down 0.28%.
The New York market had opened in reverse, scalded by new developments in Eastern Europe.
The Ukrainian army fired on Tuesday, for the first time, long-range ATACMS (Army Tactical Missile System) missiles, manufactured by the American Lockheed Martin, on Russian territory, the day after the green light from Washington.
On the sidelines of the G20 gathering in Rio, Foreign Minister Sergei Lavrov said it was a “signal” from Ukraine and its allies indicating that they “(want) escalation “.
But as has already been the case during events in Russia, China or the Middle East, the New York market has proven to be much more resistant to turbulence than the European stock markets.
“We are our own continent,” commented Kim Forrest of Bokeh Capital Partners.
“I think there’s a little bit of that,” she continued. “We don’t necessarily understand the intricacies of what’s going on elsewhere and we’re Americans, we think everything will be fine. »
The bond market behaved similarly.
After having plunged to 4.20% due to investor tension, the yields on 2-year US government bonds rose to 4.28%, the same level as the day before at the close.
“We ignored all that (geopolitics), because tomorrow, there is Nvidia,” slipped Mme Forrest, with a smile.
The Californian group’s activity figures, published on Wednesday after closing, are eagerly awaited, especially as they arrive at the end of the results season.
“This is very important,” emphasized Kim Forrest, because “if this market is rising higher and higher, it is because it is betting on the fact that Microsoft, Meta and Google continue to spend like crazy on expand their AI (artificial intelligence) offering. »
Before this deadline, Nvidia, whose chips, also called graphics cards, are highly sought after for the development of generative AI, jumped 4.89%, accompanied by Amazon (+1.44%) and Meta (+1 .21%), two other heavyweights in artificial intelligence.
The Dow Jones was able to count on Walmart (+3.00%), whose results came out above expectations and which raised its annual forecasts.
“They think people are going to spend at Christmas,” noted Kim Forrest, which reassured about the health of American consumers.
Netflix recorded a new valuation record (+2.87%), after the announcement that the boxing meeting broadcast live on the platform on Friday evening had been watched by 108 million people, a record for a sporting event in streaming .
The AI software publisher C3 AI soared (+24.19%) after unveiling a partnership with Microsoft which notably provides for the sale of its products on the platforms of the creator of Windows.
Despite better than expected results, the Lowe’s DIY store chain was penalized (-4.60%), investors retaining disappointment in the personal segment.
Despite the Walmart spark, the Dow Jones was weighed down by several sectors of the old economy, notably financials like Goldman Sachs (-1.12%) and JPMorgan Chase (-0.79%), as well as industrials like 3 m (-1.52%) or Honeywell (-0.28%).
After a new record for bitcoin, the “miners” (creators of cryptocurrencies) Riot Platforms (+0.90%) and Marathon Digital Holdings (+0.17%) shone.
The Toronto Stock Exchange on the rise
Fears of an escalation of Russia’s war in Ukraine weighed on stock markets on both sides of the Atlantic on Tuesday, but Canada’s main index recovered from early losses to finish higher. slight increase.
The S&P/TSX Composite Index closed 33.83 points higher at 25,010.77, as gains in mining stocks helped offset losses in the energy and industrials sectors.
The Canadian dollar traded at 71.53 US cents compared to 71.21 US cents on Monday.
The Canadian Press
