(CercleFinance.com) – Wall Street regained ground on Friday, thanks to cheap takeovers of technology stocks and reassuring words from Jerome Powell: the Dow Jones rose 1.5% to 32,197 points, while the Nasdaq Composite climbed 3.8% to 11,805 points.
Some traders attributed the sharp rally in US equity markets to comments made by the Fed chief during an interview with US radio station Marketplace.
‘The central bank would still stick to 50 basis point rate hikes after its next two meetings and ‘would not actively consider’ a 75 basis point hike at this stage,’ Argus summed up. Research.
Jerome Powell thus alleviated the fears aroused by the latest US inflation figures, which showed that the rise in prices was slowing less quickly than expected, putting a little more pressure on the shoulders of the Fed to act promptly.
The rating was also boosted by the rebound in technology stocks, which benefited from a bargain-hunting movement after a disastrous start to the year amid the threat of higher borrowing costs.
Moreover, Wedbush Securities recommended that investors focus on two sure values in the sector, namely Microsoft (+2.3%) and Apple (+3.2%), but also to focus on cybersecurity players such as than Palo Alto (+2.6%).
Twitter, on the other hand, fell 9.7% after Elon Musk’s announcement of his suspension of the acquisition of the microblogging platform, before reaffirming a little later that he was still determined to acquire it.
Motorola jumped 6.8%, the day after the publication by the telecom equipment manufacturer of its results for the first three months of 2022, with admittedly lower profits, but also a record order book.
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