(New York) The New York Stock Exchange finished higher on Tuesday, encouraged by good US indicators as well as strong results in supermarkets, all of which portray a healthy US consumer.
The Dow Jones nibbled 0.15% to 36,142.22 points, the high-tech NASDAQ index 0.76% to 15,973.85 points and the broader S&P 500 index 0.39% to 4,700, 90 points.
Toronto’s S & P / TSX Composite Index gained 34.08 points to end the day with 21,717.16 points.
In the currency market, the Canadian dollar traded at an average rate of 79.73 US cents, down from 79.89 US cents the previous day.
On the New York Commodities Exchange, the price of crude oil fell 12 cents to US $ 80.76 per barrel, while that of natural gas rose 16 cents to US $ 5.18 per million. BTU.
The price of gold fell US $ 12.50 to US $ 1,854.10 per ounce and the price of copper fell 4.9 cents US to US $ 4.35 per pound.
Worried about the possible influence of inflation on consumption, investors were reassured by the figures published on Tuesday, whether macro or microeconomic.
Retail sales rose 1.7% in October in the United States compared to September, more than the expected 1.2%.
Even taking inflation into account, “these are still very strong figures,” said Gregori Volokhine, portfolio manager at Meeschaert Financial Services.
“It was enough to put the market in the green because we see that people continue to spend,” said Kim Forrest, investment manager at the management company Bokeh Capital Partners.
Added to this metric were the quarterly results of Walmart and Home Depot, which both performed better than expected, both in terms of bottom line and revenue.
Walmart even raised its annual forecast and explained that it contained price increases compared to average inflation currently observed in the United States.
However, the title was sanctioned (-2.55%), some investors being disappointed by the margins of the distribution giant, unlike Home Depot, welcomed (+ 5.73%).
“All signs point to a very strong holiday season for mass distribution,” Oanda analyst Edward Moya commented in a note.
For Kim Forrest, good results from Lowe’s (DIY) and the supermarket chain Target on Wednesday could help the indices to again test the records set in early November.
“In particular Target, because they will be able to say what their stores will look like and what quantities there will be on the shelves,” explained the manager.
After a turbulent run last week, the S&P 500 is less than a point from its record.
Days go by and Rivian, who does not yet have a listing week to his credit, continues to defy gravity (+ 15.16% Tuesday).
The electric vehicle manufacturer entered the inner circle of the 100 largest capitalizations in the world on Tuesday, ahead of Volkswagen. It is now worth over $ 150 billion.
The electric vehicle fever has also benefited Lucid (+ 23.71%), which reported Monday, after market close, a 30% increase in reservations since the end of September. The group has confirmed its goal of producing 20,000 units in 2022, despite the supply problems currently affecting the entire industry.
In the same sector, Tesla has recovered (+ 4.08%), despite the announcement of the sale of a new block of shares by CEO Elon Musk, for $ 931 million, which brings to 7 , 8 billion dollars approximately the value of the securities sold by the leader for a week.
Activision Blizzard suffered (-6.09%) after the publication of a Wall Street Journal article according to which CEO Bobby Kotick had known, for several years, of internal complaints of harassment and even rape, but did not kill one. part of these elements to its board of directors.
Faced with the rise in coronavirus cases, in Europe but also in other regions of the world, cruise passengers were blamed, notably Norwegian Cruise (-7.33%), Royal Caribbean (-2.25%) and Carnival ( -3.18%).
The specialist in connected treadmills and bicycles Peloton was advancing sharply (+ 15.50%) despite the announcement of a forthcoming capital increase, to the tune of one billion dollars. The group is going through a difficult phase at the end of the pandemic, which had boosted its sales.
Semiconductor maker Qualcomm took advantage of statements made by its executives during an investor day (+ 7.89%). They emphasized the group’s ability to diversify, in particular to reduce its dependence on Apple.