(New York) The New York Stock Exchange managed to rack up another session of gains on Monday, continuing the momentum of recent weeks and stimulated by the start of monetary easing.
The Dow Jones (+0.15%) and the broader S&P 500 (+0.28%) both posted new record highs at the close, while the NASDAQ index rose 0.14%.
For Karl Haeling, an analyst at LBBW, the New York market remains supported by the many central banks which are starting to lower their rates, reassured by a normalization of inflation.
This dynamic is “positive for stocks,” recalls Mr. Haeling.
“The optimist remains to see the economy [américaine] soft landing,” Briefing.com analysts commented in a note.
For once, it was the S&P 500 that performed best, thanks to opportunistic purchases of less prominent stocks in recent months.
The cable operator Comcast (+1.55%), the oil company Chevron (+1.28%) and the semi-wholesale supermarket chain Costco (+1.11%) thus shone.
For Karl Haeling, investors are convinced, after the marked drop in the rate of the American central bank (Fed) last week that “the Fed can accelerate if the labor market weakens.”
Boeing rose (+1.96%) after the manufacturer made new proposals to the machinists’ union (IAM) to try to find a solution to the strike that began on September 13 in the United States.
It now offers a 30% salary increase over four years, compared to 25% previously.
Intel (+3.30%) was sought after, driven by information from the Bloomberg agency, according to which the asset manager Apollo Global Management would be ready to inject up to five billion dollars into the capital of the semiconductor manufacturer.
Friday, the Wall Street Journal had reported that competitor Qualcomm had made an approach with a view to a possible acquisition of Intel.
US carmaker Tesla jumped 4.93% as the government unveiled new regulations on Monday that would ban Chinese and Russian-made connected vehicle technologies in the United States.
U.S. officials said manufacturers would need a transition period to comply with the ban and switch suppliers, setting the ban’s entry into force for physical equipment at 2029.
The stock of Donald Trump’s media group, Trump Media and Technology Group (TMTG), has taken a new plunge (-10.33%).
Participants are concerned that the end of the period of prohibition of sales by investors who held shares before the IPO of TMTG could encourage some to sell them.
The group’s largest shareholder (57% of the capital), Donald Trump, has sworn that he will not sell his shares. The value of his stake fell from $9 billion shortly after the stock market debut to $1.4 billion on Monday at the close.
TSX closes higher
Canada’s main stock index posted a slight gain on Monday, led by energy and base metals stocks.
The S&P/TSX composite index closed up 27.34 points at 23,894.71.
The Canadian dollar was trading at 74.01 US cents compared to 73.72 US cents on Friday.
On the New York Commodity Exchange, crude oil fell 63 cents to $70.37 per barrel, while natural gas rose 13 cents to $2.85 per million BTU.
Gold prices jumped $6.30 to $2,652.50 an ounce and copper prices rose one cent to $4.35 a pound.
The Canadian Press