(CercleFinance.com) – Wall Street opened higher on Wednesday morning, as solid results from companies in the technology sector allowed US markets to regain their bullish momentum.
At the end of the morning, the Dow Jones advanced 0.4% to 31,880.5 points, while the Nasdaq Composite took almost 2.4% to 11,836 points.
Investors welcome quarterly publications to their liking, the results season finally managing to take precedence over concerns related to soaring inflation or a possible entry into recession of the American economy.
With quarterly accounts again at the center of attention, market players are particularly encouraged by Microsoft, which announced Tuesday evening prospects deemed encouraging.
The title of the software giant rose 4.6% following this publication.
The market also welcomes the publication of Alphabet, the parent company of Google, which climbed 5.8% after reporting less worse than expected performance in the second quarter.
Sign of a calmer market environment, the VIX index measuring the implied volatility of the S&P 500 index fell 4.5% to 23.6, a level not seen since the end of April.
Another winner of the day in New York, Visa advanced 1.2% after publishing adjusted net profit up 29% to $4.2 billion for its third fiscal quarter, for revenues up 19% at 7 ,3 billions.
As the earnings season is in full swing more than ever, investors remain on hot coals awaiting the verdict that the Federal Reserve will deliver in the early afternoon.
The central bank statement will be published at 2:00 p.m. (New York time) and the majority of economists are expecting a 75 basis point hike in key rates.
An hour before the opening, the Commerce Department announced that durable goods orders rose 1.9% in June, after a 0.8% gain in May, an acceleration that seems to undermine the scenario of economic growth. an imminent entry into recession in the United States.
As the economy slows, investors looking for yield continue to turn increasingly to bonds.
The US 10-year yield is balancing around 2.77%, close to a month-to-date low.
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