© Reuters. US MARKETS END HIGHER
by April Joyner
NEW YORK (Reuters) – Wall Street finished up a session marked by solid economic data and by the arrival at maturity of contracts options and futures, the famous “four witches”, usual source of volatility.
But on the whole of the week, the three major indices end up pretty much in the red.
The morale of american households has improved in the month of march, contrary to expectations of economists, according to the preliminary results of the monthly survey of the University of Michigan, while the industrial production has increased at a pace significantly stronger than expected in February on a rebound in the construction related to the weather and an increase in the production of oil, gas and mining.
In contrast, residential construction has slowed more than expected in February, the growth in the segment of individual houses has not been enough to offset the drop in on one of the residential buildings.
The Dow Jones has gained 72,85 points, or 0.29 per cent, 24.946,51 points. The S&P-500 took 4,68 points (0.17 per cent) to 2.752,01 points. The Nasdaq Composite finished stationary, taking 0.25 to 7.481,99 points.
The Friday gains contrast with a week that has been difficult for stock markets, however, fears of a trade conflict because of the initiatives of the customs of the president Donald Trump and the ouster of its secretary of State, Rex Tillerson.
This explains that over the week, the Dow has lost of 1.57%, the S&P to 1.04% and the Nasdaq down 1.27 per cent.
“There has not been much of Washington today; we look, therefore, the more the economy”, said Keith Lerner (Sun Trust Advisory Services), adding that the “four witches,” explained that the courses have fluctuated fairly closely.
Investors await the monetary policy meeting of the federal Reserve, the next week, which will likely result in a further increase in interest rates.
“Many managers begin to anticipate that in the end, maybe not at this meeting but in the future, the Fed will become a little more rigorous in its conduct,” observed Chad Morganlander (Washington Crossing Advisors).
Values, Adobe Systems has gained 3,05%. The designer of Photoshop released Thursday, a turnover and profit above Wall Street expectations for the seventh consecutive quarter with a further increase in subscriptions to its service Creative Cloud, which includes the editing software and graphic design.
Micron (NASDAQ:MU) Technology has taken to 2.96%, analysts of Baird, having raised their target price from $ 40 to $ 100. Western Digital has gained 4.1 percent, reaching a session peak of three years, analysts of Baird, who raised their recommendation to “outperform”.
The volume was of 9,54 billion shares traded, well above the average of 7.2 billion in the past 20 sessions.
The yields of Treasuries and the dollar rose in reaction also to the statistics of the day and also anticipates a rise in rates next week on the occasion of the two-day meeting of the us central bank, the first chaired by Jerome Powell.
The traders believe that for the most part, the latter will continue the process of normalizing monetary inaugurated by Janet Yellen, the one who has preceded him in the presidency of the Fed.
The spread between the papers on two-and 10-year widened to 55 basis points compared to 54 points on Thursday. The curve has flattened since the 82 basis points on 12 February.
The dollar has advanced 0.08% against a basket of six major currencies but fell 0.29% against the yen, 106,05, fears of political tensions have not disappeared, the currency of japan still maintains its status as a safe haven.
The rise of Wall Street has finally supported the oil prices, which have also benefited from the fact that traders have unbuckled their short positions before a weekend during which the crown prince of saudi arabia Mohammed Bin Salman has to appear in the television show “60 Minutes.”
(With Sruthi Shankar, Gertrude Chavez-Dreyfuss, Karen Brettell and Kate Duguid)