(CercleFinance.com) – The New York Stock Exchange opened slightly higher on Tuesday morning, investors welcoming reassuring information from China regarding the evolution of Beijing’s health policy.
At the end of the morning, the Dow Jones granted itself an increase of more than 0.2% to 33,929.9 points, while the Nasdaq Composite also resumed around 0.2%, to 11,070.7 points.
The trend is driven by the energy sector and the hopes raised by the prospects of an upcoming easing of anti-Covid restrictive measures in China, which is reinjecting some hope into the markets.
“Chinese health officials have indicated that 65.8% of the population over the age of 80 have now received a booster dose”, underline Wells Fargo analysts.
“Other positive news on this front, the new cases of infections recorded in mainland China fell for the first time in more than a week”, continues the Californian bank.
The intensification of demonstrations against the country’s ‘zero Covid’ policy had however raised fears of a new brake on the economy and pushed the American indices into the red yesterday.
Seven of the eleven major sectors of the S&P 500 progressed on Tuesday, including that of energy (+ 1.6%) boosted by the scenario of a rise in demand with the reopening of the Chinese economy.
On the NYMEX, the barrel of American light crude recovered by nearly 2% to 78.6 dollars, which supports energy heavyweights such as Chevron (+ 1.6%) or ExxonMobil (+ 1.2%). ).
On the bond market, the yield on ten-year US Treasury bonds is tightening a little after its decline in recent days: at 3.73%, it nevertheless continues to move to lows of nearly a month.
The small revival of risk appetite, on the other hand, is detrimental to the dollar, which lost 0.1% against the euro, around 1.0355.
In terms of indicators, consumer confidence deteriorated further in November, but at a slower pace than expected, shows the latest monthly survey from the Conference Board.
The confidence index compiled by the employers’ organization thus stood at 100.2 this month, against 102.2 in October and compared to a consensus which gave it around 100.
In detail, the consumer judgment component of their expectations fell to 75.4 from 77.9, below the 80-point threshold, a level suggesting a ‘high’ probability of recession, according to the ConfBoard. .
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