PARIS (Reuters) – The New York Stock Exchange opened higher on Tuesday after three consecutive sessions in the red thanks to strong results published by Nike and the rebound in technology stocks.
In the first exchanges, the Dow Jones index gained 362.49 points, or 1.04%, to 35,294.65 points and the Standard & Poor’s 500, larger, rose 0.87% to 4,607.96 points.
The Nasdaq Composite took 0.93%, or 138.88 points, to 15,119.82.
The rapid spread of the Omicron variant has revived concerns about global economic growth in previous sessions, but corporate results and a technical rebound are fueling the positive trend in equity markets on Tuesday.
“The shares were oversold yesterday and they are rebounding a bit today”, notes Dennis Dick, trader at Bright Trading, believing that the market is in “Dead cat bounce” mode, that is to say in a phase of short-lived recovery.
Nike posted higher than expected quarterly revenue and profit on Monday evening thanks to strong demand in North America and said it was confident that issues affecting supply chains would improve for its next fiscal year. annual. The action of the sports equipment manufacturer jumped 6.5% and supports the Dow Jones.
Micron Technology, another group that released its results Monday night, gained nearly 8% on a better-than-expected second-quarter profit forecast. The semiconductor maker pulls Nvidia, Qualcomm, Intel and Advanced Micro Devices, which take 2.5%, 1.3%, 1.4% and 1.1% respectively.
Tech heavyweights like Tesla, Microsoft, Apple, Amazon, Meta Platforms and Alphabet, which suffered in previous sessions, are advancing 0.5% to 1.4%. The sector index rose 1.28%.
The main compartments of the S & P-500 are all moving in the green, the most notable gains being in the assets of energy (+ 1.45%), finance (+ 1.35%) and consumption ( + 1.23%).
The renewed appetite for risk is also driving values linked to crypto-businesses such as Riot Blockchain or Marathon Patent, which respectively gained 3.7% and 5.1% in the wake of the 4.1% rise in bitcoin.
On the downside, the agro-food group General Mills fell 4.3% after quarterly results below expectations linked in part to the rise in the cost of raw materials, transport and labor.
(Report Claude Chendjou, edited by Blandine Hénault)
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