(CercleFinance.com) – Wall Street opened slightly higher Monday morning, breaking a series of six declines in a row, supported in particular by financial stocks which benefit from the continued strength of bond yields.
At the end of the morning, the Dow Jones gained 0.1% and recrossed the 38,000 points mark, at 38,033.7 points, while the Nasdaq Composite also gained 0.1% to 15,293.3 points.
Financial stocks, best able to benefit from high rates for longer than expected and which have outperformed since the start of the year, are still at the forefront of the markets.
With an increase of 0.6%, the S&P sector index recorded the best gain of the 11 major sector indices of the S&P index, the vast majority of which are moving in the green.
In terms of company results, Verizon lost almost 4% after reporting quarterly turnover that was worse than expected.
Also on the decline, Tesla fell by more than 4% and posted a seventh consecutive session of decline after announcing a further drop in the price of its electric vehicles on the eve of the publication of its quarterly reports.
Nvidia recovered by 1.6% after collapsing by 10% on Friday, investors having worried about the lack of forecasts from its partner Super Micro Computer.
The markets are held back by a new boost in bond yields, which sees rates return to their worst levels of the year with ten-year paper at more than 4.65%.
The easing of tensions between Israel and Iran penalizes gold, which loses more than 2% to 2,355.2 dollars, just like oil which consolidates by 1.1% towards 81.25 dollars on the NYMEX.
No macroeconomic indicator is on the agenda today.
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