The New York Stock Exchange rose on Friday shortly after the opening, supported by a good inflation figure and quarterly results from the financial sector, better than expected.
Around 2:20 p.m. GMT, the Dow Jones gained 0.71%, the Nasdaq index 0.32% and the broader S&P 500 index gained 0.60%.
Friday morning, operators had their eyes glued to the PPI producer price index in the United States, published by the Commerce Department.
This index, which measures inflation on the corporate side, slowed slightly year-on-year in September, to 1.8% compared to 1.9% in August, benefiting in particular from the decline in energy prices, but with a rebound food prices.
Over one month, the index is stable, while analysts expected an increase of 0.1%, according to the consensus published by briefing.com.
If we only take into account the underlying price movement, that is to say excluding the variation in food and energy prices which are more volatile, the underlying PPI index continues to slow down, to 3.2% over one year compared to 3.3% in August.
“It’s slightly better than expected. (…) wholesale prices have calmed down somewhat »commented Peter Cardillo of Spartan Capital.
“The details of the report suggest (…) that disinflationary trends remain entrenched”according to Samuel Tombs, analyst at Pantheon MacroEconomics.
These figures, which could have an influence on the course favored by the American central bank (Fed), are published one day after the CPI index, according to which inflation continued to slow down in September in the United States, a little less than hoped however, returning to 2.4% over one year against 2.5% in August.
On the bond market, the yield on 10-year US government bonds rose to 4.08% on Friday compared to 4.06% the day before.
On the market, several of the large capitalizations on the Nasdaq were at half mast, like Apple (-0.49%), Microsoft (-0.31%), Broadcom (-3.46%), Salesforce (- 0.18%) and Nvidia (-0.36%).
At the head of the gondola, Tesla tumbled (-8.06%), some investors disappointed with the presentation Thursday evening of the highly anticipated « robotaxi » from Elon Musk’s company.
“The event raised many questions, was surprisingly brief and was more of a controlled demonstration than a presentation”underlined in a note Garrett Nelson, analyst at CFRA Research.
Consequently, the shares of digital VTC (passenger vehicle with driver) platforms Uber (+8.33%) and Lyft (+8.49%) took off.
The markets also reacted to the publication of quarterly results from the financial sector.
JP Morgan (+4.32%) gained ground, despite results which suffered from rising costs, but which nevertheless exceeded market expectations.
Between July and September, the bank achieved a turnover of 42.6 billion dollars (+7%) and a net profit of 12.9 billion (-2%). It incurred a total of $3.1 billion in bad debt charges.
Wells Fargo (+5.30%) also progressed: the American bank recorded a decline in its results in the third quarter, but its profit came out better than expected.
Net profit stood at $5.1 billion, down 11% year-on-year. Reported per share, an indicator closely followed by the stock market, it comes out to $1.42, better than the $1.28 projected by analysts.
For its part, the American group BlackRock, the world’s leading asset manager, gained 3.63% after exceeding expectations in the third quarter, which was marked by a record net inflow from its clients of more than 200 billion dollars.