Nasdaq headquarters in New York (GETTY IMAGES NORTH AMERICA/AFP/JUSTIN SULLIVAN)
The New York Stock Exchange opened modestly higher on Friday after its best session in more than a year the day before, in the wake of strong results from chip specialist for artificial intelligence (AI), Nvidia.
The Dow Jones index gained 0.30%, the technology-dominated Nasdaq advanced 0.36% and the S&P 500 gained 0.39%, around 2:50 p.m. GMT.
Thursday, the Dow Jones index (+1.18% to 39,069.11 points) and the S&P 500 (+2.11% to 5,087.03) had reached new records at the close and the Nasdaq had come close to its highest historic (+2.96% to 16,041.62 points) which it promised to surpass on Friday.
“The market soared on Thursday following strong results from Nvidia, the darling of artificial intelligence,” summarized Art Hogan of B. Riley Wealth Management.
Some 55 stocks among the 500 in the broader S&P index set new records Thursday, including Costco, the semi-wholesale chain, Berkshire Hataway, Warren Buffett’s investment fund, the pharmaceutical group Merck and the JPMorgan bank.
As for Nvidia’s stock, “its surge constituted the largest increase in history in a single session, surpassing Meta’s historic gain three weeks ago,” said the analyst.
By jumping 16% on Thursday to 785.38 dollars per share, the market capitalization of the group swelled by 277 billion dollars to finish at the close at 1,960 billion, ranking in third place of the “Magnificent Seven”, behind Microsoft and Apple.
Nvidia shares continued to increase by 3.86% at the start of Friday’s session, passing above the $800 mark.
“Now it’s calm. It’s not the calm after the storm but rather the calm after a sunburn on stocks linked to AI, semiconductors and technology,” he said. commented Patrick O’Hare of Briefing.com.
Of the eleven S&P sectors, seven were in the green, starting with information technology (+1.10% around 2:50 p.m. GMT). The energy sector was the worst performer as crude prices fell.
The bond market eased slightly, with rates on ten-year Treasury bills rising to 4.30% instead of 4.32% the day before.
On the value side, the Block payment services group (Cash App, Square) climbed almost 21% after announcing quarterly turnover up to $5.77 billion with an operating profit of $2.03 billion. .
The travel reservation site Booking saw its shares fall 8.35% as its forecasts for the current first quarter disappointed the market, even if its fourth quarter results were better than expected.
Online car seller Carvana soared 41.20% to $74 as the company, which had a difficult year, reached its first annual profit. Carvana is optimistic about its first quarter sales.
The electric vehicle manufacturer Rivian, which had collapsed by 25.60% the day before following disappointing production forecasts, continued to let go, losing 8.69%.
Investors took Intuitive Machines to the moon (+30% to $10.80) after the Texan company managed to land a probe on Earth’s neighbor, the first moon landing by an American device in half a century.
© 2024 AFP
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