Wall Street ends up thanks to technology
The indices ended up on Tuesday thanks to technology stocks on the New York Stock Exchange, where investors seemed to minimize the announcement of an increase in customs duties by Donald Trump as soon as he came to power.
The Dow Jones gained 123.74 points, or 0.28%, to 44,860.31, the S&P 500 advanced 34.26 points, or 0.57%, to 6,021.63 and the Nasdaq Composite rose 119 .46 points, or 0.63%, to 19,174.30.
The market barely reacted to the cautious minutes of the meeting of the Fed's Monetary Policy Committee on November 6 and 7.
In these “minutes”, Federal Reserve officials appeared divided on the extent of future interest rate cuts, while collectively agreeing that now was not the right time to provide too specific indications on developments. monetary policy in the United States.
Several stocks suffered from the announcement of a 25% increase in American customs duties on all Canadian and Mexican imported products, and a 10% surcharge on Chinese imported products that Donald Trump says he wants to impose. upon his return to the White House on January 20.
Automakers Ford and General Motors, which have highly dependent supply chains between the United States, Canada and Mexico, lost 2.6% and more than 9%, respectively.
“The concern is that some of these products will become more expensive and reduce the revenues of companies that manufacture these goods overseas,” said Robert Pavlik, portfolio manager at Dakota Wealth.
“There is a lot of movement at the moment because investors are trying to position themselves for January and the following days, without any real certainty.”
For Jamie Cox, however, partner at Harris Financial Group, “most believe that the speech is more aggressive than the tariffs themselves.”
At specific values, Amgen shares lost 4.8%, the laboratory having announced results below expectations for its treatment against obesity.
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(Jean-Stéphane Brosse for the French version)
