Wall Street increasing, between Trump’s comments and results
par Sinéad Carew et Johann M Cherian
The New York Stock Exchange ended up on Thursday, the S & P-500 reaching a closing record, while investors took note of a mixed range of quarterly results and comments from US President Donald Trump calling for a reduction in rates of interest and a drop in oil prices.
The Dow Jones index won 0.92%, or 408.34 points, at 44,565.07 points.
The wider S&P-500 took 32.34 points, or 0.53%, to 6,118.71 points.
The NASDAQ Composite advanced 44.34 points (0.22%) to 20,053.68 points.
This is a fourth consecutive session of increase for the main clues of Wall Street. The S&P-500 broke its previous closing record set on December 6.
Speaking by videoconferencing at the Davos World Economic Forum (Switzerland), Donald Trump expressed his will that OPEC reduces oil prices and that world central banks soften their monetary policy, while preventing business leaders that they will undergo customs taxes if their products are made outside the United States.
Although they are monitored with caution any comment or announcement of the American president about surcharge, investors “appreciate the idea of seeing interest rates drop, to see the prices of oil retreat,” commented Lindsey Bell, strategist in chief of 248 ventures.
-“In the end, the more the market hears on Trump’s policies, the more optimistic it is,” she added. “We simply see the reflection of this optimism”.
The fact remains that, in the background, investors have been concerned for several weeks by the prospect that potential enlarged customs duties fuel inflationary pressures and push the Federal Reserve (Fed) to slow down the pace of its monetary relaxation.
It is expected that the American central bank leaves its interest rates unchanged at its monetary policy meeting next week. Peter Tuz, president of Chase Investment Counsel, noted that the Fed will likely base its monetary decisions on economic data rather than on the requests of the tenant of the White House, to which he said, “She’s not going pay a lot of attention “.
All the major sectors of the S&P-500 have finished the day’s session in the green, first of all of which health, up approximately 1.4%, and industry, which took 0.96%.
Awarded at the start of the day, public services rebounded, while Donald Trump said in front of the Davos forum that the United States had to produce twice as much energy to fuel the development of artificial intelligence operations (Ia). Constellation Energy, AES Corp and Vistra Corp increased between 2% and 4%.
Also note, Ge Aerospace climbed 6.6% after the announcement of annual forecasts above expectations. Electronic Arts plummeted 16.7% following a downward revision of its annual orders, while American Airlines dropped 8.7% for communicating a disappointing annual profit forecast.
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(Written by Jean Terzian)
