(Washington) The New York Stock Exchange closed in mixed order on Monday, supported on one side by enthusiasm for artificial intelligence (AI), but somewhat heated by the rise in bond rates.
Posted at 12:05 p.m.
Updated at 5:00 p.m.
The Dow Jones closed near breakeven at -0.06%, the NASDAQ index gained 1.24% and the S&P 500 broader index, 0.55%.
“It’s a mixed day, it started well” but “shares fell a little during the day,” commented Christopher Low, analyst at FHN Financial, to AFP.
After a strong opening, the S&P 500 and Dow Jones indices lost speed during the session, strained in particular by “the irregular action of Treasury bills”, observed Patrick O’Hare in a note from Briefing.com.
On the bond market, the yield on 10-year US government bonds stood at 4.61%, compared to 4.60% at Friday’s close. But it rose during the day to 4.64%, and also touched 4.57%.
The tech-heavy NASDAQ index was the day’s biggest winner, and “unsurprisingly, the AI sector generated significant gains,” noted Low.
Semiconductor giant Nvidia (+3.43%) ended with a new closing record, its stock reaching $149.43.
In its wake, the rest of the sector was celebrating, like Broadcom (+1.66%), AMD (+3.33%), or Qualcomm (+1.28%). Micron was catapulted, rising 10.40%.
According to Mr. O’Hare, this enthusiasm stems from the recent results of Taiwanese electronics behemoth Foxconn, a key supplier to Apple.
The group announced on Sunday a 42% jump in sales in December year-on-year, achieving an increase in revenue of 11.37% for the whole of 2024, a record.
Other big names in technology also progressed, such as Meta (+4.23%), Amazon (+1.53%) and Apple (+0.67%).
Among other news, the American market digested the announcement on Monday of the resignation of the vice-president of the American Federal Reserve (Fed) responsible for banking supervision, Michael Barr, thus avoiding a confrontation with the future occupant of the House -White, Donald Trump.
Following the announcement, part of the banking sector moved in the green, like Bank of America (+1.32%), Morgan Stanley (+2.14%) or Wells Fargo (+1.01 %).
On the stock market, FuboTV was put into orbit (+251.39%) after announcing Monday alongside Disney that the two groups would combine Hulu, a streaming platform owned by Disney, and Fubo, a streaming service. streaming sports, ending an ongoing dispute between the two American companies.
Under the agreement, Disney becomes the “majority owner” of Fubo, with a 70% stake, and Fubo’s current management team will manage the new entity, which also includes the live television offering on Hulu, specifies an attached press release.
After a good start to the day, US Steel continued to be sought after (+8.14%) after the group announced that it was taking legal action alongside Nippon Steel against the Joe Biden administration for “ illegal interference” in the proposed acquisition of the American group by the Japanese steelmaker.
The two groups said they had filed an appeal before a US appeals court to challenge the review process of this transaction, believing that President Biden had used his influence improperly for political purposes.
Toronto Stock Exchange closes lower
The Toronto Stock Exchange closed Monday’s session with a slight decline of 0.29%, after the official announcement of the resignation of Prime Minister Justin Trudeau.
The Toronto trading floor’s S&P/TSX composite index fell 73.75 points to 24,999.79 points.
On the currency market, the Canadian dollar traded at an average rate of 69.70 US cents, up from 69.24 US cents on Friday.
On the New York Mercantile Exchange, the price of crude oil fell 40 US cents to US$73.56 per barrel, while that of natural gas rose 32 US cents to S$3.67 per million. of BTUs.
The price of gold fell US$7.30 to US$2,647.40 per ounce and that of copper rose 9 US cents to US$4.16 per pound.
The Canadian Press
