(CercleFinance.com) – The New York Stock Exchange, still buoyed by optimism surrounding the evolution of rates, signed a new session of increase on Friday, which allows it to head towards a fourth consecutive week of progression.
At the end of the morning, the Dow Jones index advanced 0.1% to 39,908.4 points to once again approach the 40,000 point mark which it had briefly crossed yesterday.
The Nasdaq also advances by 0.1% to 16,718.2 points, just like the S&P 500 which is back above the threshold of 5,300 points.
‘We believe that the S&P 500 could reach the 5,500 point mark by the end of the year,’ said Mark Haefele, chief investment officer of UBS’s wealth management arm.
The only economic indicator of the day reinforced investors’ optimism regarding the prospect of future rate cuts.
The Conference Board’s index of leading indicators, supposed to foreshadow the evolution of economic activity, fell more sharply than expected in April (-0.6%), a sign of a slowdown in the economy.
This bout of weakness could push the Fed to support growth by easing its monetary policy from September.
But for some investors, the rise of recent weeks offers opportunities to take, at least partially, profits, particularly on stocks which had progressed well recently.
On the bond side, the ten-year yield rose to almost 4.40% after reaching around 4.32%, the lowest of more than a month the day before.
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