by Stephen Culp
NEW YORK (Reuters) – The three New York Stock Exchange indexes ended in sharp rebound on Friday, ending on a positive note a week turbulent by the prospect of the start of an interest rate hike by the Fed and the results of mixed businesses.
The Dow Jones gained 1.65%, or 564.69 points, to 34,725.47 points.
The broader S&P-500 gained 105.34 points, or 2.43%, to 4,431.85 points.
The Nasdaq Composite advanced for its part by 417.79 points (+ 3.13%) to 13,770.57 points.
This rebound which took shape at the end of the session allowed the three New York indices to finish above their level of last Friday, with extreme accuracy in the case of the Nasdaq, which spared them a fourth consecutive week of down and the longest streak in negative territory since September 2020.
Before heading higher, the market again yo-yoed on Friday as investors were hesitant to take risk as Bank of America said it expected the US central bank to raise its benchmarks. interest rate by 25 basis points on seven occasions this year starting in March.
Among the indicators of the day, consumer spending by US households fell last month amid tight supply chains and the health crisis while the PCE consumer price index excluding energy and food rose. 4.9% over one year, unheard of since 1983.
The publication of corporate results also animated the session, notably with Apple, which gained 6.98% after posting record sales in the last three months of the year.
The apple brand has signed one of the strongest increases in the Dow Jones, behind Visa (+ 10.6%), which reported a quarterly profit above expectations.
Conversely, hard drive maker Western Digital (-7.3%) and oil giant Chevron (-3.5%) fell after disappointing quarterly results, as did construction equipment maker Caterpillar. (-5.2%) following a profit warning.
(Stephen Culp report, French version Tangi Salaün)