Wall Street ends slightly higher after choppy session

Wall Street ended slightly higher after a choppy session e

BET À DAY

The New York Stock Exchange ended Wednesday slightly higher after a choppy session, reflecting uncertainties about the pace of opening of the Chinese economy. < /p>

The Dow Jones index advanced 0.40% to 33,269.77 points, the technology-heavy Nasdaq 0.69% to 10,458.76 points and the broader S&P 500 index rose 0.75% to 3852.97 points.

Throughout the session, the indices oscillated between red and green. “It's hard to sustain a rebound, hard to do anything,” commented LBBW's Karl Haeling when interviewed by AFP.

“We remain in a waiting position (…) after a terrible year on all fronts”, for his part indicated Art Hogan of B. Riley Wealth Management.

For Karl Haeling, “we We won't have answers to the major market questions for a few months, in particular the most important of them: what will inflation do”.

Even at the start of the day, the stock markets Both equities and bonds showed momentum, reassured in particular by good data on inflation in Europe.

The rise in inflation in France in particular slowed down in December to 5.9 % over one year, compared to 6.2% in November.

But as Karl Haeling points out, “it seems that most of the decline is due to government subsidies in Germany and France, subsidies which could be lifted in January”.

The hope of a The faster-than-expected reopening of activity in China has boosted equities in the Chinese market, but the fall in the price of oil and raw materials such as copper, “raises fears of still weak Chinese demand for the coming months”, said the analyst.

The publication of the minutes of the last meeting of the American central bank, the Fed, temporarily caused the indices to go from green to red during the session when it turns out that no member of the Monetary Committee expects a key rate cut in 2023, in the face of much more persistent inflation than expected.

“The Fed minutes lean towards tight monetary policy, but little else was expected. I don't think we've learned much,” Haeling said.

Oxford Economics analysts still believe the Fed will raise rates by 25 basis points at its next meeting on February 1.

On the stock market, the title of the American computer group Salesforce, a member of the Dow Jones, rose 3.58% to 139.60 dollars, hailed for having announced that it was laying off 10% of its employees, i.e. almost 8,000 people.

The group specializing in the distribution of management software and cloud computing (remote computing), has 79,000 employees worldwide.

The action of the Chinese distribution giant Alibaba, present on Wall Street, jumped 13.07% to $104 after signs that Chinese authorities may ease regulations on the technology sector.

Tesla shares, which had fallen more than 12% after disappointing delivery figures, rebounded 5.12% to $113.64.

Microsoft fell 4.37% to $229.10 after a bank analyst downgraded the business in the cloud.

The healthcare subsidiary of US conglomerate GE has made a moderately successful Nasdaq debut, marking the first step in the former industrial giant's split into three separate companies .

GE HealthCare Technologies, trading under the symbol GEHC, fell 4.08% in its first session at $56. .

On the bond market, 10-year rates fell to 3.68% against 3.73% the day before.