Around 4:10 p.m., the Dow Jones rises by 0.95%, the Nasdaq advances by 0.34%and the enlarged S&P 500 index increased by 0.41%.
The New York Stock Exchange is increasing on Wednesday, continuing its progression started the day before after prospects for a relaxation of the monetary policy of the Federal Reserve (Fed).
Around 2:10 p.m. GMT, the Dow Jones took 0.95%, the NASDAQ index advanced 0.34%and the enlarged index S&P 500 gained 0.41%.
“In the past two weeks, we have been blocked in a range” contained and “yesterday we came out for the first time,” comments with AFP Art Hogan, by B. Riley Wealth Management.
In the absence of new catalysts, “the dynamics continue this morning,” notes the analyst.
Investors have optimized with optimism the publication on Tuesday of the Consumer Price Index (ICC) in the United States.
The index progressed in July at the same rate as in June (+2.7% over one year), contained by the drop in the cost of oil (-9.5% over one year), while the markets expected acceleration due to new customs duties.
Over a month, its increase even slows down, at +0.2% after +0.3% in June.
This publication “strengthened the anticipations of a quarter of a quarter of percentage of interest rates” of the Fed in September, note the analysts of briefing.com.
From now on, experts are practically unanimous in waiting for a drop at the next meeting of the institution’s monetary policy committee, according to the CME monitoring tool. And they are a majority of waiting for a second rate reduction in October.
These prospects for monetary easing benefit small capitalizations, notes Art Hogan, which were hitherto “sub-performatives”.
The Russell 2000 index, which includes 2,000 SMEs, advanced by 0.90%.
Among the indicators “likely to change the perception of investors”, Mr. Hogan notes the publication Thursday of the production price index (PPI) and the day after retail sales.
On the bond market, the return on American state loans at ten years clearly relaxed 4.24% against 4.28% at the end on Tuesday. The two -year deadline, more sensitive to monetary developments, relaxed 3.68% against 3.73% at the end on Monday.
On the business side, the American start-up specializing in remote IT (“Cloud Computing”) Coreweave slipped by more than 12% to 130.53 dollars despite results above forecasts, including a turnover of $ 1.21 billion in the second quarter.
According to the company, its growth is forced by difficulties in accelerating its capacities, while demand remains sustained.
The Bullish cryptocurrency exchange platform will enter the New York Stock Exchange on Wednesday, with an initial price of $ 37 per share, beyond expectations. This should allow the company to raise $ 1.1 billion for total recovery exceeding 5 billion.
The American textile group Hanesbrands (+6.55% to 6.59 dollars) continued its progression after its leap from the day before caused by the announcement of its takeover by the Canadian manufacturer of sportswear Gildan, an operation at 4.4 billion dollars.
