PARIS (Reuters) – The New York Stock Exchange opened higher on Wednesday, investors judging for the moment the reaction of Westerners more measured than expected on the Ukrainian file in the aftermath of an escalation of geopolitical tensions.
In early trading, the Dow Jones index gained 217.01 points, or 0.65%, to 33,813.62 points and the broader Standard & Poor’s 500 rose 0.83% to 4,340.53 points.
The Nasdaq Composite took 1.03%, or 137.85 points, to 13,519.36.
In reaction to Moscow’s recognition of the independence of two secessionist regions of Ukraine, Western countries announced Tuesday evening a series of sanctions against Russia, mainly targeting the financial sphere and Russian elites.
The European Union, however, chose not to directly sanction Russian President Vladimir Putin, who himself declared that the door to diplomacy remained open.
“The penalties are not as severe as advertised. It almost sounds more like a warning than anything else,” said Robert Pavlik, portfolio manager at Dakota Wealth.
According to Robert Pavlik, while the S&P-500 entered the correction zone on Tuesday, a drop of more than 10% compared to its closing record of January 3, investors are rather looking for purchases at a good price. account.
The new technologies compartment (+1.2%) rebounded with Apple, Meta Platforms, Microsoft and Alphabet which gained 1% to 1.6%.
Tesla took 0.9% following the announcement of an increase in production capacity at its Shanghai factory.
Banks (+0.6%) are also sought after, such as Wells Fargo, which rose by around 1%.
Side financial publications, the chain of DIY stores Lowe’s advance of 3.1%, driven by the increase in its forecast of results for this year. Mosaic (-3.6%) is on the other hand sanctioned, the fertilizer manufacturer having published disappointing quarterly results.
Kodiak Sciences plunges 78% after the failure of clinical trials for its experimental treatment for macular degeneration. Its competitor Regeneron gains 2.8%.
(Written by Claude Chendjou, edited by Jean-Michel Bélot)
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