Trader on the New York Stock Exchange on may 14, 2018 in New York (Photo by Yana Paskova. GETTY IMAGES NORTH AMERICA)
Wall Street finished higher Wednesday, sidelining concerns over geopolitical tensions and rate hike to focus on the encouraging results of the macy’s store chain and a strong indicator.
Its index feature, the Dow Jones Industrial Average, has gained 0.25% to 24.768,93 points.
The Nasdaq, in high coloring technology, has appreciated by 0.63% to 7.398,29 points.
The expanded index S&P 500 gained 0.41% at 2.722,46 points.
The rise Tuesday, the borrowing rate to 10 years in the United States to its highest level since July 2011 had pushed the indices of Wall Street and interrupted a series of eight consecutive sessions of gain for the Dow Jones.
But “rates stabilized on Wednesday and did not appear for the moment to be more problematic. It is necessary to wait to see if they do not wish to climb (Thursday) beyond the 3.15 per cent”, says Peter Cardillo Spartan Capital Securities.
The rate of return on Treasury bills of 10 years evolved into the 20: 20 GMT to 3,096%, compared to 3,072% at the end of Tuesday and that on Treasury bills to 30-year amounted to 3,219%, compared to 3,201% the day before the closing.
The uncertainties on the ongoing trade negotiations between the United States and China on the one hand, and Mexico and Canada on the other hand, as well as the latest developments on the front of relations with North Korea, “continue to pose a threat to the markets,” notes Mr. Cardillo.
But the indices have according to him bounced back Wednesday in favor of good data on industrial production, which rose a little more strongly than expected in April in the country, and the rise of oil prices to its highest level since 2014.
The better than expected results for the department store chain macy’s, positive signal on the consumption of Americans, they also provided support to the market, its title amount to 10.83%.