(CercleFinance.com) – The New York Stock Exchange opened higher on Monday morning, operating an almost generalized rebound which does not yet seem to reflect any real renewed confidence on the part of investors.
After losses of 1% and 2.5% respectively on Friday, the Dow Jones regained 0.4% to 33,032.9 points at the end of the morning, while the Nasdaq Composite recovered by 0.8% to 12,104.6 points.
All sector indices are on the rise, with consumption, telecoms and technology in the lead, but the energy sector is underperforming due to the fall in crude oil prices.
The rating is benefiting from a small rebound on cheap buybacks after last week’s losses, even if investors remain cautious given the context of an economic slowdown.
The VIX index measuring the implied volatility of the S&P thus advanced by nearly 3% to 25.8 points.
Many strategists are reluctant to consider that the US market correction is over as the S&P 500 has fallen more than 12.5% since the start of the year.
A sign of a slight renewed appetite for risky assets, the yield on 10-year US government bonds continues to rise and crosses the 3% threshold, a new peak in more than three years.
This long benchmark rate, whose movements have been rocking the financial markets for several months, will be particularly watched this week with the publication of the consumer price index on Friday.
The Nasdaq is notably supported by Tesla, which takes more than 2% while Elon Musk seems on the verge of abandoning his plan to take over Twitter, which some analysts considered time-consuming.
The technology index also benefits from the favorable orientation of Apple (+1.3%) while awaiting the kick-off, later in the day, of the Worldwide Developers Conference which will begin with a ‘keynote’ supposed to present all what’s new coming to Apple’s platforms this year.
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