PARIS (Reuters) – The New York Stock Exchange opened higher on Thursday as investors continued to bet on an amplification of the economic stimulus after Joe Biden took office at the White House, a prospect that trumps the signs of slowing recovery.
A few minutes after the start of trading, the Dow Jones index gained 156.98 points, or 0.51%, to 30,986.38. The larger Standard & Poor’s 500 rose 0.93% to 3,783.11 and the Nasdaq Composite, which had fallen the day before, took 1.6% to 12,927.15 points.
Wall Street thus continues to profit from the democratic double victory in the senatorial elections of Georgia, which ensures to the future Biden administration a majority in the Senate able to favor the adoption of ambitious bills, in particular as regards support to the activity. and consumption.
This factor takes precedence over the current deterioration of the economy in the United States, illustrated this Thursday by the latest figures for jobless claims, in very slight decline but still historically high.
In addition to hopes of recovery, bank stocks are benefiting from the rise in bond yields, which gives hope for an improvement in their credit lines: Bank of America, Citigroup, JPMorgan Chase and Wells Fargo gain between 2.4% and 3.1% .
On the government bond market, the yield on ten-year Treasuries rose to 1.0744%, the highest since March 20.
On the technological side, which suffered on Wednesday from fears of an antitrust offensive by the future Democratic administration, Apple, Microsoft and Amazon are all recovering around 1%.
The digital services specialist DXC Technology also jumped 9.98% after the confirmation by the French Atos of information from Reuters according to which it submitted a takeover proposal.
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