(CercleFinance.com) – The New York Stock Exchange barely rose Monday morning, but its timid rise allowed the Nasdaq to achieve a sixth consecutive session.
At the end of the morning, the Dow Jones rose 0.1% to 38,607.5 points, while the Nasdaq Composite rose 0.1% to 17,714.7 points.
Fears of persistent inflation likely to lead to a postponement of monetary easing which emerged on Friday are now giving way to a renewed appetite among investors for risky assets.
After all, the ‘four witches’ session will take place on Friday and the Nasdaq is at this stage showing a gain of 17% since January 1st.
The temptation will be strong to ride the upward trend to push Wall Street to new heights in order to end the first half in style.
At the same time, the VIX index measuring the volatility of the S&P 500 increased by 1.7% but continued to move at 12.8 points around several-month lows.
With the renewed interest in stocks, the yield on ten-year Treasuries, which fell last week to a three-month low, rose more than seven basis points to 2.29%.
Six of the 11 major S&P sector indices are rising, led by industrial and consumer staples (+0.5%).
Technology stocks advance by 0.4%, thanks in particular to the good direction of Tesla (+3.5%) and Apple (+1.7%) stocks which continue their upward movement from last week.
As Wall Street opens, the European stock markets are up slightly with gains of between 0.4% (Frankfurt) and 0.9% (Paris).
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