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Wall Street: Data feeds the Christmas rally


(CercleFinance.com) – Wall Street rose on Thursday, driven by a new round of indicators giving hope for the resilience of the US economy: the Dow Jones advanced more than 0.5% to 35,951 points, while the Nasdaq Composite gained more than 0.8% to 15653 points.

In particular, consumer spending by US households rose 0.6% in November, where analysts at Jefferies only expected an increase of 0.4%, while their income rose 0.4%. %.

Other promising indicators, the number of registrations for unemployment benefits remained stable at 205,000 last week, and durable goods orders for their part increased more than expected in November (+ 2.5%).

Released during the session, the UMich confidence index improved to 70.6 in December and new home sales jumped 12.4% in November, good news accompanied, however, by a sharp fall in prices. October sales.

‘The sentiment was supported by preliminary data from various studies that showed that the Omicron variant of the rapidly spreading coronavirus is less likely to lead to hospitalizations,’ Wells Fargo further explains.

In the news of values, Pfizer fell by 1.4% despite the announcement Wednesday evening of the authorization by the American FDA, of the emergency use of its oral tablet against Covid-19, called Paxlovid.

Citi, on the other hand, gained 1% after the announcement of an agreement with UnionBank to divest its retail banking activities in the Philippines, which will result in the transfer of some 1,750 employees.

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