The S & P 500 increased the fourth time, contributing to the growth of the week after the United States and China agreed on the temporary reduction in customs rates. Yields on state bonds also fell, providing stimulus shares.
A wide market index added 0.3%, while Nasdaq Composite fell by 0.3%. Dow Jones Industrial Average added 253 points, ie 0.5%.
Confidence in the direct prospects for the shares strengthened after last week’s talks between the Minister of Finance Scott Bessent and Chinese officials who seemed to prevent a short-term decline in economic activity and accelerating inflation.
Technological giants make a strong week so far: Nvidia and Tesla increased by more than 14% and 13%, while the Meta Platforms added 10%. Amazon and Alphabet increased by more than 7%, 6% and 8%. Nasdaq Composite rose by 6.5% this week, followed by S & P 500, in front of it by 3.9%, and Dow, which increased by 1.7%.
“This is the market that has moved to careful optimism, ie. Moderate optimism, as the fears of the recession are coming to the fundamental power. Investments. “The next phase will depend on whether the current growth will expand and maintain during the summer months or will give a place to healthy consolidation or correction.”
The Foot Locker shares increased by 84% after the company announced that it would connect to Dick’s Sporting Goods for $ 2.4 billion, seebiz reports. UnitedHealth fell 14% after Wall Street Journal reported, referring to famous people, that the Ministry of Justice investigates insurers. The UnitedHealth spokesman later told CNBC that the insurer was not informed by the Ministry of Justice on the reported “alleged” investigation.
The traders also assessed the state of the economy on Thursday, with an unexpected fall of the wholesale prices last month. The producer price index for April fell by 0.5% compared to the previous month, the Institute for Statistics of the Work said. Economists interviewed by Dow Jones predicted that the PPI would increase by 0.3% in the same month. Retail rose by 0.1% in April, which was in accordance with the consensus estimates, while the number of industrial production for April fell slightly more than expected. Bond yields fell after the announcement of the report on the soft PPI. The return of 10-year state bonds fell by more than 7 base points to 4.45%, while the rate on a 2-year-old bond fell by 8 base points to 3.97%.
