(Washington) The New York Stock Exchange ended higher on Tuesday, welcoming Donald Trump’s first round of presidential decrees after his inauguration the day before, including his less aggressive posture than expected on customs duties.
Posted at 10:41 a.m.
Updated at 5:18 p.m.
The Dow jumped 1.24%, the NASDAQ index gained 0.64% and the broader S&P 500 index gained 0.88%.
“It’s a bit of a honeymoon phase” and for the moment, the markets are showing “that they are in agreement with the launch of the new administration,” Steve Sosnick, of Interactive, commented to AFP Brokers.
From his first day in power, the new American president signed a barrage of texts, including the withdrawal of the United States from the World Health Organization (WHO) and the Paris climate agreement, the implementation place of a state of emergency on the border with Mexico against immigration, and the pardon of more than 1,500 attackers of the Capitol.
Before his election, Donald Trump had shown himself determined to impose new customs duties more broadly, on all imported products, to preserve the American productive system. He did not rule out the possibility that they would reach 60%, or even more, for Chinese products.
However, according to Mr. Sosnick, “although there have been discussions about tariffs,” “there is some relief in the market” because “there is nothing definitive yet. »
Trump has in fact announced that he intends to impose customs duties of 25% on products from Canada and Mexico from 1is February, but no decree to this effect has yet been signed.
He has also not taken decisive action against China.
-“The market sees (this) as a negotiating position rather than concrete political statements,” said Mr. Sosnick, according to whom “it is less about economics than about politics”.
Among other news, investors are also appeased by “the easing of Treasury yields,” observed Patrick O’Hare in a note.
On the bond market, the yield on ten-year US government bonds stood at 4.56% compared to 4.61% at Friday’s close.
Elsewhere, on the stock market, stocks linked to artificial intelligence (AI) benefited from press information according to which Donald Trump is expected to announce on Tuesday up to $500 billion in private sector investment to finance infrastructure dedicated to ‘AI.
The IT services giant Oracle notably jumped (+7.17%).
Semiconductors thus ended, for the vast majority, in the green, like Nvidia (+2.21%), Broadcom (+1.19%), Micron (+3.43%) or Qualcomm (+1.65%).
Apple lost ground (-3.19%), weighed down by information from the Bloomberg agency according to which iPhone sales fell by 18% in China during the holiday period, Patrick O’ observed in a note. Hare, from Briefing.com.
The industrial conglomerate 3 ma was sought after (+4.16%) after publishing quarterly results a little better than expected and announcing its outlook for 2025, counting in particular on increased sales.
