© Reuters. WALL STREET ENDS HIGHER
by Sinead Cruise
NEW YORK (Reuters) – Wall Street finished higher on Monday, with the key being a closing record high for the Nasdaq, supported by the technology sector and the values of the distribution after the strong employment figures on Friday, which strengthened the confidence of investors in the american economy.
The Dow Jones index finished with a gain of 178,48 points, or 0.72 per cent, 24.813,69 and the S&P-500, wider, has granted 12,25 points or 0.45% to 2.746,87.
The Nasdaq Composite, with a strong weighting in technology, has taken 52,13 points (0.69 per cent) to 7.606,46, a new level in closing.
Apple (NASDAQ:AAPL), the main contribution to the rise in the S&P has reached a new record of 193,42 dollar before ending at 191,83, a gain of 0.84%, while opened in California its developer conference is always very well attended by investors.
Anxious to burnish its coat of arms after the affair of the rapid aging of its batteries in the last year, Apple has presented this opportunity to the new version of its operating system for iPhone and iPad, iOS12, which will have the particularity to improve the performance of older smartphones such as the iPhone 6.
The group could also announce progress in the area of augmented reality.
Microsoft (NASDAQ:MSFT) has also reached a record high of 101,86 dollars, after the announcement of the acquisition for $ 7.5 billion (6.4 billion euros) of the platform encoding GitHub, which says meet 28 million developers. The title ended up 0.87% to 101,67 dollars.
Sector index S&P information technology, up 0.79%, has reached a new record high and the Nasdaq is significantly closer to its historical high of 7.637,27 points, registered 13 march.
The values of the distribution have trusté the best seats in the S&P-500, favoured by the employment report better than expected released on Friday, with an unemployment rate at its lowest for 18 years and salaries are increasing significantly.
The best sectoral performance has been for consumer goods, non-essential, up 1.13%, and the consumer base has taken a 0.82%.
Walmart (NYSE:WMT), up 2.93%, has finished in the lead of the Dow, and Home Depot won 2,13%. Out of the index, Target, Kohl’s and macy’s have taken more than 4%.
“Despite the unrest of the past two weeks, the market remained focused on the fundamentals and improving economic data demonstrates the resilience of our actions,” said Tom Tries, the founder of the Sevens Report.
The EURO REGAINS 0.3% of
Merck (NYSE:MRK) (+2,41%) also distinguished himself after the publication of the results of positive clinical trials on the effectiveness of Keytruda in the treatment of a type of cancer of the lung.
Boeing (NYSE:BA) has taken its share of 1.12% in reaction to the announcement of an alliance with the French Safran (PA:SAF) in the auxiliary engines for aircraft.
Only six of the 30 securities in the Dow has finished lower, with the biggest drop being for General Electric (NYSE:GE), which has disposed of 2.77% to 13,71 dollars. According to RBC Capital Markets, traders on options betting on a decline in the dividend of up to 50% for the conglomerate. The title has lost around 10% since may 23, when CEO John Flannery has refused to commit to maintaining the annual dividend.
With the drop of nearly 2% of the price of oil, Exxon Mobil (NYSE:XOM) has dropped 1.05% and Chevron (NYSE:CVX) 1,29%.
The sector index of energy transferred 0,92%, the largest decline of the major sectoral indices, S&P, seven of which 11 have finished up.
To the biotech, laboratory Nektar Therapeutics has plunged 41,82% after it presented disappointing results from a study evaluating the effectiveness of his cancer treatment NKTR-214 in combination with Opdivo from Bristol-Myers Squibb, which fell to 3.16%.
The Nasdaq biotech declined by 0.65%.
About 6.5 billion shares changed hands, compared to an average of 6.6 billion on the last 20 sessions.
“The dynamics of Friday continued to support the market today,” said Kristina Hooper, a strategist at Invesco in New York, saying she was impressed by”as good employment figures so late in an expansion cycle.”
“The statistics of the employment is in the rearview mirror while the protectionist decisions of the last week will impact the future”, warns her, however, by noting that a decrease in external trade would slow down the growth.
With the easing of political tensions in Europe, the euro regained 0.3 per cent against the dollar, to 1,1693, and the dollar index fell 0.16% to 94,05.
“The spike in the dollar index has probably been observed to be 95,” said Mazen Issa, a strategist for foreign exchange at TD Securities.
Relaunched by the figures of Friday, the speculation about an acceleration of rate hikes in the United States have especially had an impact on the rate of return on government bonds to 10 years, which rose five basis points to 2,936%, after having hit a high of a week. It was down last Tuesday to a low of seven weeks, 2,759%.
(With Medha Singh in Bangalore, Véronique Tison for the French service)