Business Wall Street buoyed by the hope of a recovery,...

Wall Street buoyed by the hope of a recovery, the Nasdaq is at the highest

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THE NEW YORK STOCK EXCHANGE ENDS HIGHER

NEW YORK (Reuters) – The New York stock Exchange ended up Tuesday in a market where the improved economic conditions and the prospect of a new support plan that has fuelled hopes of a rebound post-sars coronavirus fast.

At the close, the Nasdaq Composite, where technology stocks are very represented, has set a new record at 10.131,37 points, an increase of 74,89 points or 0.74 per cent.

The action Apple has widely contributed to this performance, with a gain of 2.13%.

The other two indices, the stars of Wall Street end up also in the green: the Dow Jones industrial average is gaining 0.5 per cent (131,14 points) to 26.156,1 points and the S&P-500, wider, took 13,38 points, or 0.43 per cent, to 3.131,24.

A number of economic statistics came out to reassure investors about the recovery in activity in the United States, including the PMI flash composite rose to 46.8 after eur 37.0 in may, and new home sales, up from 16.6% in may, when analysts had forecast a 2.9%.

“The cumulative effect of the economic data we store helps to support the rebound in V observed on the stock markets,” notes Mark Luschini of Janney Montgomery Scott in Philadelphia.

“It reinforces the opinions according to which the shares can continue to make progress even if many of the economic damage will continue to weigh for some time, as the high figures of unemployment and the slow recovery in the areas of travel, leisure and entertainment.”

Nine of the eleven sub-indices on Wall Street finished higher. The indices traditionally defensive real estate and utilities have, however, finished on a negative note.

On the commodities market, the futures contract on a barrel of Brent has lost 1.04% to 42,63 dollars. The light crude, u.s. oil (WTI) has lost 0.88% to $40,37 barrel.

(Sinéad Carew; French version by Henri-Pierre Andre)

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