The New York Stock Exchange traded in the green at the opening after a volatile session the day before in the middle of the corporate earnings season.
At 3:00 p.m. GMT, the Dow Jones rose 0.23%. The Nasdaq, with strong technological coloring, oscillated between positive and negative territory to grab + 0.12%. The extended index 500 advanced 0.17%.
On Monday, the Dow Jones had slipped 0.12% to 30,960.00 points. The Nasdaq, on the other hand, had advanced to a new record at 13,635.99 points, up 0.69%, while the S&P 500 had narrowly reached a new high at 3,855.36 points up 0.36%.
“Stocks are trading higher early in the day amid a warming and attention-grabbing earnings season.”, noted Schwab analysts while Johnson and Johnson (+ 3.42%) and 3M (+ 2.66%) notably announced their results.
Investors greeted General Electric (+ 6.28%) which went back to green in 2020. Microsoft was to announce its own after the close.
The markets also had their eye on the start of a Fed meeting, the first for 2021 as its ex-boss, Janet Yellen, was confirmed Monday evening by the Senate as Secretary of the Treasury. “The market should appreciate the news, considering that Fed Chairman (Jerome Powell) and Treasury Secretary share similar views on the stimulus.”, underlined Patrick O’Hare of Briefing.
President Joe Biden hopes to get Congress to pass a massive new $ 1.9 trillion economic support plan.
On the economic front, consumer confidence accelerated in January, according to the Conference Board, to 89.3 from 87.1 the month before.
Among the actions, the American start-up of meat substitutes Beyond Meat soared 28% after announcing a partnership with Pepsico.
In the bond market, the 10-year yield on Treasuries was stable at 1.0364% versus 1.0295% the previous day.
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