PARIS (Reuters) – The New York Stock Exchange rose at the opening on Friday after good retail sales figures in the United States, which allayed fears of a slowing economy, and the rise of Citigroup following the the publication of its quarterly results.
Minutes after the start of trading, the Dow Jones index gained 352.25 points, or 1.15%, to 30,982.42 points and the broader Standard & Poor’s 500 rose 1.05% to 3,830.28 points.
The Nasdaq Composite took 1.09%, or 122.091 points, to 11,373.276.
Several economic indicators published before the opening showed a certain solidity in activity in the United States: retail sales rebounded by 1% in June, after -0.1% in May, and the activity index “Empire State” has exceeded the consensus.
Equity markets also continue to benefit from comments from two Federal Reserve officials in favor of a 75 basis point rate hike at the US central bank meeting in two weeks and not a 100 basis point hike. as feared by investors.
At the same time, among the companies that published their quarterly accounts before the opening, Citigroup won 4.89%, the strong activity of ‘trading’ in the second quarter having helped to offset the decline in the investment bank.
Competitor Wells Fargo advances by 3.79% despite the sharper-than-expected decline in its profit in the second quarter.
Also up, UnitedHealth gained 3% after raising its full-year profit forecast.
(Written by Laetitia Volga, edited by Sophie Louet)
Copyright © 2022 Thomson Reuters