(Washington) The New York Stock Exchange closed up on Monday, catching up most of its losses of the past week thanks to a technical rebound, investors choosing to ignore the economic uncertainties surrounding the American customs duties.
The Dow Jones took 1.34 %, the NASDAQ index gained 1.95 %and the enlarged S&P 500 index advanced by 1.47 %, ending a series of four consecutive decrease sessions.
“There were buyers on Friday and as soon as the markets showed signs of life today, they returned to the charge because no one wants to miss a bull movement,” comments with AFP Steve Sosnick, of Interactive Brokers.
According to him, only this technical rebound can explain this progression of Wall Street, while no major economic data has been published on Monday and that “rate reduction forecasts [d’intérêt de la Fed] have not changed significantly since Friday ”.
A very large majority of analysts expect a drop of a quarter of percentage of the rates of the American central bank at its next monetary policy meeting in September, according to the CME monitoring tool.
In question: a report on the labor market in the United States, published on Friday, worse than expected, with in particular a sharp revision of job creations, at more seen levels from the Pandemic of Cavid-19.
“Given the magnitude of the data that was published on Friday and how they repercussions on the price of other key financial assets, it is quite surprising to see the stock market completely ignore them,” said Steve Sosnick.
But “we have already seen stock markets react strongly to the slightest buying opportunity,” according to the analyst.
He also noted that “brokers and investors have earned a lot of money” by putting aside fears related to customs duties.
Donald Trump’s new customs duties which should come into force for the most part on Thursday are “almost final” and should not be the subject of negotiations immediately, said the American representative on trade, Jamieson Greer, in an interview on Sunday on the CBS channel.
On the table of values, the brand of Jeans American Eagle (+23.65 % at 13.28 dollars) took off, taking advantage of Donald Trump’s glowing comments on his advertising campaign with actress Sydney Sweeney, which creates controversy.
“Sydney Sweeney, a Republican inserted, has the most” burning “advertising of the moment,” wrote Donald Trump there. According to him, thanks to this campaign, the brand’s jeans “sell like hotcakes”.
The car manufacturer Tesla (+2.19 % to 309.26 dollars) was sought after granting its boss Elon Musk 96 million shares for an approximately $ 29 billion. Mr. Musk’s enormous remuneration plan is always the subject of a legal battle.
The Chinese Baidu search engines (+$ 1.75 % to 87.64 dollars) benefited from the announcement of the launch of its Robotaxis on the American carpooling application Lyft in Germany and Great Britain in 2026, subject to regulatory approval.