Wall Street: Dow Jones for the 9th week in a row


Wall Street: Dow Jones for the 9th week in a row

Saturday, 23.02.2019

The week, Dow Jones earned 0.57%, Nasdaq 0.73% and S & P 500 0.61%. (Keystone)

The New York Stock Exchange, with the obvious progress in trade negotiations between China and the United States, completed Green Friday, recording the Dow Jones, passing through the largest series of successive weekly increases since 1995.

The New York Stock Exchange index rose 0.70% to end at 26,031.81 points.

The Nasdaq index, with strong technological coloration, gained 0.91% to 7,527.54.

The broader S & P 500 index gained 0.64% to 2,792.67.

The week, Dow Jones earned 0.57%, Nasdaq 0.73% and S & P 500 0.61%.

Supported by late December by the most helpful tone of the US Central Bank and the hope of relaxing Chinese and US tensions, the three indices are at the highest level since November.

On Friday, market participants responded "on what seems to be significant progress towards resolving the US-China trade dispute," said Alan Skrainka of Cornerstone Wealth Management.

Secretary of the Treasury, Steven Mnuchin, said the negotiations that had been held since the beginning of the week in Washington were extended until Sunday, while Donald Trump said there was a "good deal" trade agreement.

Kraft-Heinz is sinking

The US president also announced a "meeting very soon" with Chinese counterpart Xi Jinping to negotiate the most sensitive points of the trade dispute between the two countries "probably March in Mar-a-Lago," his home in Florida.

It remains theoretically one week before the deadline of 1 March and Washington's application of 25% of new tariffs to $ 200 billion of imported Chinese products, currently taxed at 10%.

But for investors, "the trade war with China is already over," said Gregori Volokhine of Meeschaert Financial Services.

This optimistic attitude is even more interesting, according to which new tensions are emerging with the European Union, which is currently preparing a list of US companies to target whether the Americans have decided to tax German cars.

However, Mr Skrainka said that "the differences between the United States and the European Union are less important in nature and should not be a major departure for global development."

In the bond market, the interest rate on the 10-year debt dropped to 2,654%, compared with 2,691% on Thursday closing and 30-year debt at 3,016% versus 3,050% on the previous day.

Another sign of the day: the collapse (-27.46%) of the US food giant Kraft Heinz, known for ketchup and aperitif biscuits.

The team experienced a huge depreciation that resulted in a net loss of $ 12.6 billion.

However, investors are not very worried about this because they know that the group has "implemented revenue that worked at a certain point in time", ie the drastic drop in spending, while its problem is mainly that its products, such as Jell-O's gelatinous desserts are "off-the-shelf".

Hewlett Packard Enterprise (HPE), which raised its annual forecast Thursday night, rose 0.55%.

Altice USA, the French subsidiary of the French media mogul Patrick Drahi, gained 2.71%. The group plans to increase its revenue in 2019, after one year in 2018, during which it has recorded new subscribers and reduced its debt.

The Tesla electric car manufacturer grew by 1.19%. The team delivered its first model 3 in China on Friday, shortly before the schedule. (AWP)


Source link