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Wall Street ends sharply higher, building on the recovery of the economy

The New York stock Exchange rose sharply on Wednesday, driven by hopes of a gradual recovery in the economy, without a hitch major as that are the lifting of th

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Wall Street ends sharply higher, building on the recovery of the economy

The New York stock Exchange rose sharply on Wednesday, driven by hopes of a gradual recovery in the economy, without a hitch major as that are the lifting of the restrictions imposed to stop the pandemic of Covid-19.

read also : Coronavirus : the United States is approaching the 100,000 deaths, and Donald Trump plays golf

the index feature, the Dow Jones Industrial Average, has risen from 2.21% to 25.248,27 points, while the Nasdaq, in high coloring technology, has taken 0.77% to 9.412,36 points. The S&P 500, which represents 500 largest companies of Wall Street, has earned 1,46% at 3.036,13 points. For the first time since early march, the Dow Jones finished above the symbolic threshold of 25,000 points and the S&P 500 in the threshold of 3,000 points. "With the idea that the economy is at a turning point, we see that the market is interested in a larger number of titles," says Quincy Krosby of Prudential Financial. The values that are especially affected at the height of the health crisis, are once again popular, like Disney (+0,48%), cruise lines such as Carnival (+5,90%) or airlines such as United Airlines (+3.89 per cent).

small and mid-cap stocks also draw their pin of the game and "even the financial values are on the rise, while the rate of borrowing by the United States at 10 years of age is decreasing," notes Quincy Krosby. The companies that have the reverse advantage in Exchange of the suspension of the activity were, however, less in form, especially in the technology sector: the retail giant online, Amazon was down 0.47%, the video conferencing service Zoom of 1.24%, and the bikes Pack of 1.51%.

"americans continue to see"

Some indicators are also shown to be rather encouraging in these last days, note Quincy Krosby in particular before the slight increase in deposits of records for mortgages. "One could ask why, but it is a fact, Americans continue well and to plan and buy houses," she remarks. "It is a sign of confidence in the job market, not in the short term, of course, but in the medium term," she adds.

The u.s. central bank (Fed) has shown a little more pessimistic in its Beige Book released on Wednesday, saying that the outlook for the u.s. economy are "very uncertain". According to the report of conjecture published every six to eight weeks, the companies in the country are also for the most "pessimistic as to the potential pace of recovery." Investors are counting always on the support provided by the authorities, in addition to the continued support of the Fed. The european Commission unveiled Wednesday a plan to help exceptional, with a stimulus funds of 750 billion euros to support the european economy affected by the coronavirus.

Twitter attacked by Trump

in The United States, market players were encouraged by remarks of the leader of the republican majority in the Senate, Mitch McConnell, who spoke of a new plan for the massive support of the economy. On the bond market, the rate on 10-year u.s. debt retreated a little, moving on to 0,6819% to 20.15 GMT against 0,6965% on Tuesday night.

Among the other values of the day, the operator AT&T has made 3,34% the day of the official launch of the new platform of video on demand HBO Max its subsidiary WarnerMedia. The pharmaceutical company Regeneron has declined 0.22%, while the French group Sanofi said on Wednesday hoped to remove $ 11.7 billion from the sale of its shares in the american group.

Twitter has lost 2.76% in. Donald Trump has threatened on Wednesday to "regulate" or "close" the platforms of social networks, after reporting the previous day by Twitter two messages from the us president as "misleading" and which convey information that is not verified.

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