Wall Street ended higher on Thursday
par Abigail Summerville
The New York Stock Exchange ended up on Thursday, after a seesaw session, with the Dow Jones and the S&P-500 having established themselves at peaks for a week, the day after the publication of the results Nvidia's quarterly results, better than expectations.
The Dow Jones index gained 1.06%, or 461.88 points, to 43,870.35 points.
The broader S&P-500 gained 31.60 points, or 0.53%, to 5,948.71 points.
The Nasdaq Composite advanced 6.28 points (0.03%) to 18,972.42 points.
Nvidia, the world's largest market capitalization, gained 0.5% after publishing quarterly results above expectations on Wednesday after the close and said it anticipated better than expected turnover for the current quarter.
Some investors, however, were disappointed by the fact that expected growth in the October-December period was the weakest in seven quarters.
“(Nvidia's) results are very, very good. Some data was expected to be higher and disappointed, but the fundamentals for artificial intelligence (AI) and Nvidia continue to operate at full capacity and the outlook for next year are positive,” commented Anthony Saglimbene, chief strategist at Ameriprise Financial.
Salesforce contributed to the performance of the Dow Jones, climbing 3.1% after its price target was revised upwards by three agencies.
Conversely, Alphabet fell 4.7%, to a more than two-week low, after the US Department of Justice told a judge that Google must divest itself of its search engine in Chrome line in the context of antitrust measures.
In the wake of the technology giant, communications services lost 1.73%, the worst performance of the day among the major sectors of the S&P-500.
Amazon fell 2.2% after press reports according to which the group should be targeted next year by a European Union investigation for possible anti-competitive measures.
A report released today showed that weekly jobless claims in the United States fell unexpectedly, suggesting a rebound in the jobs market in November.
Investors will be watching for comments from Federal Reserve (Fed) officials between now and the next meeting of the American central bank in mid-December.
According to FedWatch, traders are betting on a 25 basis point rate cut at this meeting.
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(Written by Jean Terzian)
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