Around 2:15 p.m. GMT, the Dow Jones gained 0.99%, the Nasdaq index gained 1.19% and the broader S&P 500 index gained 0.97%.
The New York Stock Exchange opened higher on Friday, reassured by Amazon’s results published Thursday evening which exceeded analysts’ expectations, investors keeping an eye on job creation in the United States, down sharply in the month. of October.
Around 2:15 p.m. GMT, the Dow Jones gained 0.99%, the Nasdaq index gained 1.19% and the broader S&P 500 index gained 0.97%.
The American market reacted Friday to “the results of the tech giants which were published the day before”, commented to AFP Peter Cardillo, of Spartan Capital Securities, in particular to those of Amazon (+6.66%) which significantly exceeded market expectations in the third quarter.
Driven by the cloud, the group achieved a net profit of $15.3 billion, reassuring investors of its profitability despite the announcement of increasing spending on artificial intelligence (AI).
After finishing at half-mast the day before, weighed down by the results of Meta (-0.20%) and Microsoft (+1.22%), part of the technology sector was thus reinvigorated by the performance of Amazon: Nvidia (+ 1.98%), Salesforce (+0.35%), Cisco Systems (+0.82%), Adobe (+0.32%), were all in the green.
Apple, which also published quarterly results on Thursday, lost ground (-2.19%).
Despite slightly better results than expected, thanks in particular to a rebound in iPhone sales, Wall Street was not enthusiastic about the group’s speech on artificial intelligence.
The American group’s net profit for the quarter (July to September) was $14.7 billion. It is down sharply (-36%) year-on-year due to the impact of a conviction in Europe for illegal state aid, according to a press release relating to the fourth quarter (July to September) of the financial year. shifted.
The New York Stock Exchange also kept an eye on job creation in the United States, which slowed significantly in October.
Only 12,000 jobs were created during the month, the Labor Department announced Friday. This is much less than expected by analysts who were counting on 110,000, according to the Market Watch consensus.
“Several factors must be taken into consideration” to explain this slowdown, notably “the strike affecting Boeing” since September 13, as well as the consequences of the passage of “hurricanes Helene and Milton”, underlined M Cardillo.
The unemployment rate remained stable at 4.1%, as expected by analysts.
“The main takeaway from the report is that it has reinvigorated market sentiment that the US central bank (Fed) will remain on a path of steady rate reduction,” said Patrick O’Hare of Briefing.com.
The Fed lowered its key rates by half a percentage point in September, and two additional quarter-point cuts are anticipated by the end of 2024, an additional half-point less in total.
On the bond market, the yield on 10-year US government bonds stood at 4.27%, compared to 4.16% the day before at closing.
In the table of values, Chevron (+4.41%) and ExxonMobil (+0.63%) were sought after, supported by results generally better than expectations.
Semiconductor giant Intel shone (+5.51%) after giving a turnover forecast above expectations for the fourth quarter.
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