(Washington) The New York Stock Exchange ended up on Wednesday, taking advantage of the craze for Apple after the announcement of a massive investment in the United States, on the eve of the entry into force of a new wave of American surcharge.
The Dow Jones took 0.18 %, the NASDAQ 1.21 %index and the enlarged S&P 500 index won 0.73 %.
In a “effervescence” market, investors have temporarily abandoned commercial fluctuations and economic data, ”notes Jose Torres, of Interactive Brokers.
The Apple technology giant (+5.09 % to $ 213.25) was at the center of attention after the announcement, via press information and confirmed to AFP by a senior White House official, that the company was going to increase by $ 100 billion its planned investments in the United States.
In total, commitments will rise to $ 600 billion over four years in total. The official announcement must be made at the end of the day in the presence of the American president.
“By publicly announcing a national investment with Donald Trump, it reduces the probability that the American president imposes new customs duties in Apple,” said FHN Financial AFP Christopher Low.
The Californian group has estimated at $ 1.1 billion costs caused by American customs duties for this quarter, to add to the bill of $ 800 million recorded in the previous quarter.
In addition, according to Christopher Low, “Apple is lagging behind in the race for artificial intelligence (AI)”, a crucial sector for the big ones of American technology, and “a part of this global investment” on American soil aims to overcome this delay.
The analyst adds that in the absence of major economic data, the American place benefits from a season of results deemed so far “good”, both in terms of profits and forecasts.
“This suggests that customs duties have not yet significantly reduced the margins and that there is a certain latitude for companies to remain profitable while facing customs surcharge,” said Low.
Wall Street was not shaken by the announcement of an additional US surcharge of 25 % on a large volley of Indian products adding to that already 25 % which is due to enter Thursday, justified by Washington by Russian oil purchases.
Less than 24 hours of the implementation of customs duties targeting most of the United States business partners, Christopher Low notes a form of “habit” on the part of investors with regard to Donald Trump’s protectionist policy.
On the bond market, the yield of American treasury bills at ten years was somewhat, at 4.23 % against 4.21 % the day before at the end.
On the business side, the giant of the Advanced Micro Devices (AMD) semiconductor sector fell frankly (-6.42 % to 163.12 dollars) after publishing mixed results. Investors were disappointed with the group’s performance concerning these data centers.
Snap, the parent company of Snapchat, plunged (-17.15 % to 7.78 dollars), undermined by quarterly performance below expectations, especially on its advertising segment.
The McDonald’s fast food chain has been sought (+2.98 % to 307.66 dollars) after results for the second quarter more or less comply with market expectations, with a turnover that took advantage of new arrivals on menus and promotions to try to attract low -income customers.
Toronto in green
The Toronto Stock Exchange closed Wednesday’s session on a gain of 1.27 %, thanks to the favorable reception reserved by investors to the quarterly Shopify.
The S & P/TSX compound index of the Toronto prosecutor’s office took 350.79 points to finish the session with 27,920.87 points.
On the currency market, the Canadian dollar has been negotiated during the means of 72.75 cents US, up compared to that of 72.54 US of Tuesday.
On the New York Raw Material Stock Exchange, the price of crude oil, for delivery in September, left 81 cents at US $ 64.35 per barrel.
The price of gold, for delivery in December, abandoned US $ 1.30 to US $ 3,433.40 per Once.
Canadian press
