(CercleFinance.com) – The US indices pile up records this Thursday and are resolutely heading towards a 19th week of increases: the longest upward cycle without a weekly correction of -2% in history seems unstoppable.
Wall Street, which had started the session in clear progress, maintained its gains close to the optimum until the close… the suspense lasted until the last minute for the Nasdaq Comp and Nasdaq-100 which were also able to achieve the double session/closing.
The S&P500, which climbed +1.05%, brilliantly achieved the double intraday record (5,160) and closed (5,157).
He only missed 2 points to set a closing record on the Nasdaq which rose +1.5% to 16,273… but mission accomplished for the intraday record since the ‘Composite’ peaked during the session at 16,309.
The Nasdaq was once again pulled to new heights by Nvidia, which set a new historic closing record: +4.5% to $927.5 for $2.3 trillion in capitalization.
It’s very close to Apple – stable this Thursday – which could lose its second place by the ‘4 witches’: Apple, it’s $100 billion in turnover per quarter, Nvidia $20 billion… if everything is going as hoped.
Absolute intraday record also for the Nasdaq-100 (at 18,338) which ended for the second time in history in contact with 18,300 (+1.55%) in the wake of the semiconductor sector, which was a new times ‘incandescent’: the ‘SOXX’ soars +3.5% to 237.75 thanks to NXP +3.5%, Micron +3.6%, Qualcomm +4.7%, Microchip +6.3 %, ON.Semi +6.9%.
The last quarters are ticking away with Marvell and Mongo DB which plunged by -12% after the close… Marvell which ‘beats the consensus’ was nevertheless sanctioned after +40% since January 1st (share buyback plan of $3 billion), MongoDB’s forecasts are lower than expected.
Good surprise on the other hand for Docusign which jumped symmetrically by +15% in ‘after hour’.
The Dow Jones, excluding the ‘AI theme’, continues to underperform with +0.35% (a few increases made the difference with Microsoft +1.8%, Amazon +1.9%, AMEX +2.3 %, Intel +3.7%).
There were also several ‘macro’ figures: the US trade deficit widened to $67.4 billion in January, compared to $64.2 billion the previous month (which was revised from an estimate initial 62.2 billion), according to the Department of Commerce.
This 5.1% increase in the deficit from one month to the next reflects a 1.1% increase in imports of goods and services by the United States, to 324.6 billion dollars, while its exports have almost stagnated (+0.1%) at 257.2 billion.
US productivity is revised ‘unchanged’ at 3.2% and weekly jobless claims also remained almost stable last week.
On the foreign exchange market, the Dollar ended down 0.5%, the ‘$-Index’ which fell towards 102.85 found itself at its lowest since January 16.
Copyright (c) 2024 CercleFinance.com. All rights reserved.