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Market review. Despite a slow start, the New York Stock Exchange ended sharply on Friday thanks to good US employment numbers, at the end of the week marked by rising US 10-year bond prices.
La Bourse de Toronto a regagné le terrain perdu en cours de journée pour clôturer en hausse, sous l’effet d’indicateurs voulant que l’économie se rétablit plus vite que prévu, tandis que le prix du pétrole a atteint un sommet en près de Two years.
Indications
In Toronto, Prof. S & P / TSX It jumped 255 points, or 1.41%, to 18,380 points.
In New York, Prof. Standard & Poor’s 500 The index rose 73 points, or 1.95%, to 3,841 points.
The Dow Jones It increased 572 points, or 1.85%, to 31,496 points.
The Nasdaq 196 points rose 1.55% to 12,920 points.
The American dollar Advance 0.06% to $ 0.7896.
The oil $ 2.42, or 3.79%, to $ 66.25.
L ‘or It decreased $ 1.90, or 0.11%, to $ 1,698.80.
Context
Peter Cardello of Spartan Capital Securities said, “We saw a good turn today” as Wall Street started in choppy order, and the Nasdaq in particular reflects concerns about rising bond prices.
Throughout the week, the Nasdaq has remained down 2.06%, and the Dow has advanced 1.85% and the S&P 500 has advanced 0.81%.
The robust job creation in February was 379,000, three times more than in January, plus the unemployment rate fell to 6.2%, a good report on the job market, even if we were still far from employment completion, ”the expert added.
These jobs are mainly created in bars and restaurants, but also in other activities related to entertainment and accommodation, as well as in health services, retail and manufacturing.
Cardillo added, “If the bond yields stabilize where they are,” then that means just over 1.50% for the 10-year bond, “it can be said without risk that the market has ended the downturn. Down.”
Many observers analyzed the rise in bond yields, which reached their highest level in one year in the morning at 1.62%, with inflation expected in the US as the economy and vaccination campaign resumed.
Such a scenario could prompt the Federal Reserve to adjust its asset purchases and raise its key rates.
But his boss, Jerome Powell, confirmed again this week that he was not considering this option in the short term, considering the potential rise in prices to be temporary.
Among the works of the day, Tesla It continued its decline (-3.78%), erasing more than $ 200 billion in capital value in one month, while General Motors, which announced building a second battery plant in the US, rallied just as much.
All 11 sectors of the S&P 500 ended in the green, led by energy as oil prices hit their highest level in two years.
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