© Reuters. WALL STREET ENDS HIGHER
by Sinéad Carew
NEW YORK (Reuters) – The New York stock Exchange ended sharply higher Wednesday, boosted by financials, on a background of reflux fears of a trade war, while the Nasdaq posted its third record close in a row.
The Dow Jones has gained 346,41 points, or 1.40%, 25.146,39.
The Standard & Poor’s 500, wider, rose 23,55 points or 0,86% to 2.772,35.
The Nasdaq Composite,which has finished on a gain of 51,38 points, or 0.67 percent, to 7.689,24, has signed its third record close in a row.
The index to a high technological component, has been carried by Comcast (NASDAQ:CMCSA) and Tesla (NASDAQ:TSLA).
The manufacturer of electric cars has won 9,75%, after its general assembly. The group CEO, california, Elon Musk has said that he is confident in the ability of the group to produce 5.000 sedans Model 3 by the end of June, the rate was already at about 3,500 vehicles per week.
These days, technology stocks have supported the market, resistant to the questions that have troubled investors, including commercial discussions between the United States and their partners, geopolitical tensions and interest rate increases.
“The fundamentals are strong and there are signs that the effects of the tax reform are still largely to come, and they begin to circulate in the real economy,” says Thomas Martin, portfolio manager at Globalt Investments.
Facebook (NASDAQ:FB) has, however, lost 0,83%. The social network has confirmed to have agreements on data sharing with at least four chinese companies, including Huawei, the third manufacturer in the world of smartphones which is under surveillance by the us secret services.
CALMING ON THE FRONT-COMMERCIAL
Another factor supporting the market in the end of the session, the declarations of the economic adviser to Donald Trump, which have eased fears about the front commercial.
Larry Kudlow has been announced that the american president would have bilateral meetings with the president of france Emmanuel Macron, and the canadian Prime minister Justin Trudeau at the G7 summit, which will take place at the end of the week in Charlevoix, Canada.
Previously, the us authorities had considered a proposal made by china to import $ 70 billion of additional assets in a year to defuse a trade war potential between the two economic powers, according to multiple sources.
“The rhetoric on trade has once again declined,” notes Mona Mahajan, in Allianz (DE:ALVG) Global Investors. “It is the threat of protectionism that is stirred and removed.”
THE FINANCIAL EARN 1.84 PERCENT
Investors are also very attentive to the strong economic growth in the u.s., which seems to mark time in Europe, ” adds Mona Mahajan.
The u.s. trade deficit fell in April to its lowest amount since seven months, with exports that reached a record level, while productivity has been revised downward in the first quarter, an increase of 0.4% compared to 0.7% as indicated in the first estimate.
The yield on Treasuries to 10-year-old has earned nearly six basis points to 2,975%, after having touched a high of 10 days.
With a gain of 1.84%, the financial values, by their nature sensitive to the rate, have achieved the best performance. JPMorgan (NYSE:JPM) is granted with 2.34%, signing the third largest increase in the Dow, while Goldman Sachs (NYSE:GS) has gained 1.70 per cent.
The industry has made 0,9%, Boeing (NYSE:BA) granting of 3.18%, the largest increase in the Dow, Caterpillar (NYSE:CAT) 2,29%.
The compartment of the energy has erased its losses to finish on a gain of 0.56%, in the wake of the fall in oil prices.
Only, the sector of services to communities has finished in the red, posting a decline of 2.13%.
(With Medha Singh; Catherine Mallebay-Vacqueur for the French service)