The New York Stock Exchange continued its race for records on Friday, still driven by the return of Donald Trump to the White House, its three star indices reaching new highs.
The Dow Jones rose 0.59%, the Nasdaq index gained 0.09% and the broader S&P 500 index gained 0.38%.
The American market continued to welcome the arrival of Donald Trump to power on Friday, who “will promote lower tax rates for businesses and less regulation”, Patrick O’Hare, analyst, commented to AFP from Briefing.com.
“We are witnessing the continuation of the post-election dynamic (…), and investors fear missing out on additional gains,” he added.
For the first time, during the session, the S&P 500 exceeded 6,000 points and the Dow Jones crossed 44,000 points.
At the same time, investors were still seduced by the new rate cut announced Thursday by the American central bank (Fed) and by the image of good economic health in the United States.
The publication during the session of an index of American consumer confidence, at its highest in November for six months, also brought the indices to New York on Friday.
“Consumer optimism regarding improving incomes” notably “contributed to the increase in overall results,” said Jose Torres, analyst at Interactive Brokers, in a note.
On the bond market, the interest rate on 10-year US government bonds stood at 4.30%, compared to 4.33% the day before at closing.
On the stock market, industrial stocks were in demand: GE Aerospace (+3.33%), Lockheed Martin (+2.31%) and Honeywell (+0.91%) all advanced.
After having declined the day before, financial stocks have regained color, like Goldman Sachs (+1.22%), American Express (+0.27%), JPMorgan Chase (+0.40%) or Wells Fargo (+0.89%).
Telsa took off 8.19%. The action of the car manufacturer, owned by Elon Musk, was driven by the support shown by the billionaire for Donald Trump during his campaign.
Large caps in the technology sector fell, including semiconductor giants. Qualcomm (-1.16%), Micron (-1.33%), Broadcom (-0.09%) and AMD (-1.24%) all finished in the red.
Nvidia – which entered the Dow Jones index on Friday, replacing its competitor Intel (-0.11%) – dropped 0.84%.
Chinese stocks listed on the New York Stock Exchange lost ground, weighed down by the measures announced by the Chinese government to revive the country’s economy, considered disappointing.
Online commerce giants PDD (-6.40%), Alibaba (-5.94%) and JD.com (-6.99%) dropped.
The travel booking platform Expedia stood out (+3.81%) after raising its annual forecasts and publishing a quarterly profit above expectations, driven by an acceleration in international tourism.
The social network Pinterest tumbled (-14.00%), still weighed down by third quarter results below expectations.
The short-term real estate rental site Airbnb was penalized (-8.66%), poorly oriented by a net profit slightly lower than expectations.
Nasdaq
Do you have a real estate project in mind? Yakeey & Médias24 help you make it happen!
