New York (awp/afp) – The New York Stock Exchange opened higher on Thursday for its first session of the year, driven by a certain optimism after having concluded 2024 without panache.
Around 2:55 p.m. GMT, the Dow Jones gained 0.62%, the Nasdaq index 0.53% and the broader S&P 500 index 0.53%.
The latter ended the year with four negative sessions in a row, even if it shows a 23% gain for 2024.
For Art Hogan, of B. Riley Wealth Management, this rebound is due, in part, to an arrival of new money from pension funds, a movement typical of the start of the quarter and even more marked during the first days of the year.
Furthermore, “if we had started 2023 and 2024 with a lot of concerns, this year, the consensus leans more towards a favorable situation,” continues the analyst.
Investors therefore have in mind the prospect of tax cuts once Donald Trump is elected president of the United States, “company results which look good and an American economy that remains resilient”, recalls Art Hogan.
“So we’re starting this session off on the right foot and we’ll see what the next two weeks have in store for us,” he explained.
For Patrick O’Hare of Briefing.com, Wall Street’s good start is also due to the anticipation of cheap purchases after a sluggish end to the year.
Driving the market for more than two years, driven by the generative artificial intelligence (AI) revolution, the semiconductor sector began this 2025 vintage with enthusiasm.
Nvidia (+2.04%), Broadcom (+2.43%), Qualcomm (+2.42%) and Intel (+1.65%) were thus sought after.
Elsewhere on the stock market, Tesla (-3.64%) suffered from delivery figures lower than its forecasts for the entire 2024 financial year.
The Texan manufacturer declined (-1% compared to 2023) although it had announced, in October, to expect a “slight growth” in its deliveries for the year, against a backdrop of increasing competition. .
This disappointment benefited other American players in the electric car market, Rivian (+1.57%) and Lucid (+1.65%).
Generally speaking, this first day of the year was marked by a certain appetite for risk.
Following the booming trend of bitcoin, the values of the cryptocurrency industry were on the rise, like the exchange platforms Coinbase (+5.24%) and Robinhood (+4.88%). , as well as the software publisher MicroStrategy (+6.44%), the largest private holder of digital currencies.
The optimism of the New York market was encouraged by the low number of new unemployment claims, the lowest in eight months.
The stock of registrants has also fallen, to a level not observed for three months.
Another tailwind came from the bond market, where rates were falling.
The yield on 10-year US government bonds stood at 4.55%, compared to 4.57% at Tuesday’s close.
On the stock market, the American natural gas giants took advantage of tensions on the European market, after the cessation of deliveries of Russian gas via Ukraine on Wednesday. Cheniere (+1.88%) and ExxonMobil (+1.03%) did well.
Apple fell (+1.41%) after the group launched a promotional campaign in China with discounts on several iPhone models, a rare initiative for the Cupertino group, interpreted as a sign of disappointing sales in the Republic popular.
tu/eb
