The New York Stock Exchange started in the green Thursday after an inflation figure in the United States in May sustained but less strong than in April.
Around 2:10 p.m. GMT, the Dow Jones Flagship Index advanced 0.70%, as did the S & P500, which was above its record in early May. The Nasdaq rose 0.79%.
The day before, after a cautious session for the third day in a row, the Dow Jones index fell 0.44% to 34,447.14 points. The high-tech Nasdaq dropped 0.09% to 13,911.75 points. The S&P 500 expanded index fell 0.18% to 4,219.55 points.
The rise in consumer prices in May in the United States accelerated to 5% over one year, the highest in 13 years, according to the CPI index released Thursday. Over the month, it stood at + 0.6%, a little more than analysts’ forecasts of + 0.4% but less than the previous month (+ 0.8%).
Nasdaq tech stocks, sensitive to inflation fears that potentially erode their profits and investment capacity, had shown apprehension ahead of the opening, with futures entering negative territory.
They moved forward after the publication of the highly anticipated figure.
Yields on ten-year Treasuries, which initially showed nervousness by rising to 1.51% before the price index was released, fell to 1.48%.
At the same time, weekly claims for unemployment benefits in the United States continued to decline, with 376,000 new claims, but less than analysts had hoped, suggesting that a return to normal in the labor market was not expected. is not imminent.
“US stocks are trading higher early in the session as markets digest stronger-than-expected inflation figures and further deceleration in jobless claims,” Schwab analysts summarized.
For Art Hogan of National Securities, the price increase “is approaching a peak and it should start to decelerate in June and July”.
Investors also paid attention to the meeting of the European Central Bank (ECB), which on Thursday maintained its accommodative monetary policy and considers it “premature” to tighten the financing conditions of the economy in the euro zone. However, it raised its inflation forecast to 1.9% for 2021.
The big names in tech got off to a good start, like Tesla (+ 1.78%) which launched a luxury version of its Model S sedan, called Plaid, from Amazon (+ 1.22%) or Microsoft on Thursday. (+ 1%).
The American biotech Moderna, which is asking the United States for authorization of its anti-Covid-19 vaccine for adolescents, gained 1.58%. The pharmaceutical group Pfizer also rose (+ 1.78%), continuing its momentum from the previous day.
- Nasdaq
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