(CercleFinance.com) – Wall Street continues to ignore the tension in rates (the optimistic version sees it as proof of the robustness of the US economy) and to pile up records: another double for the S&P500 (+0.1% ) with an ‘intraday’ zenith (5,001) and closing (at 4,998), new closing record for the Dow Jones (+0.13% to 38,726, thanks to +11.5% from Disney) and double annual record for the Nasdaq (closing at 15,793 and 15,813 intraday).
The Nasdaq was kept in the green by NXP +2.9%, Doordash and Booking +3.5%, ON Semiconductors +4.9%.
The US indices are on track to achieve a 14th week of increases in a series of 15 (the longest bullish series in 52 years).
At the beginning of the afternoon, the publication of unemployment registration statistics in the United States confirms the hypothesis of a ‘soft landing’ of the American economy with a further drop in registrations: the Department of Labor announces -9,000 applicants to 218,000.
The number of people regularly receiving compensation fell by 23,000 to stand at 1,871,000 during the week of January 22.
T-Bonds continue their tumble symmetrically with yields tending towards 4.163% for the ’10-year’ (+6.5Pts) and 4.365% for the ’30-year’ (+6Pts).
Yields at their highest for 2024, stock market indices also at their highest… investors still seem convinced of the materialization of a ‘Goldilocks’ type scenario, which encourages them to continue to turn to the markets of actions.
The ‘GAFAM’ results literally carried the ‘S&P’ and the Nasdaq, but the results published after the close this Thursday were heavily punished: after the -35% of SNAP, Pinterest fell by -20% and Expedia by -14 % shortly after 10 p.m. after slightly missing their turnover target, Paypal fell by -11.2% during the session.
Note that WTI soared +3.3% to $76.5 per barrel, while the greenback remained stable against the Euro at $1.0775.
Copyright (c) 2024 CercleFinance.com. All rights reserved.