June 2 (Reuters) – The New York Stock Exchange ended sharply higher on Thursday, led by large-cap companies like Tesla and Nvidia, after a choppy session pending the release of jobs numbers on Friday.
The Dow Jones Industrial Average gained 1.33%, or 435.05 points, to 33,248.28 points.
The broader S&P-500 gained 75.67 points, or 1.85%, to 4,176.9 points.
The Nasdaq Composite jumped for its part from 322.44 points (2.69%) to 12,316.90 points.
While inflation in the United States had not been so high for 40 years, Federal Reserve Vice President Lael Brainard said on Thursday that half-point hikes in the institution’s rates this month and in July were reasonable, and that there was little chance of a break in September, as hoped by the financial markets.
“Volatility has become the norm, not the exception. Stocks are being held hostage by inflation, and until inflation is brought under control, volatility is likely to remain elevated,” said Terry Sandven, equity strategist. head of equities at US Bank Wealth Management in Minneapolis, Minnesota.
After having suffered the blow following the remarks made by Lael Brainard, the New York indices recovered under the impetus in particular of Tesla, Meta Platforms and Nvidia, which gained between 4.8% and 7%.
Shaken at the start of the session after announcing a reduction in its forecasts for profit and turnover for the fourth quarter, Microsoft took advantage of the trend to gain 0.8%.
Hewlett-Packard Enterprise, on the other hand, lost more than 5% after quarterly results below expectations.
On Friday, all eyes will be on nonfarm payrolls, which should give investors some indication of the state of the US economy and how aggressively the Fed may continue to raise interest rates.