The New York Stock Exchange opened higher on Thursday, buoyed by IBM's well-received results and better-than-expected US growth figures.

At the end of the morning, the Dow Jones advanced 0.3% to 37,921 points.921 points, while the Nasdaq Composite gained more than 0.6% to 15,583 points, returning to levels very close to their recent records.

Growth in the US economy slowed less than expected in the fourth quarter, reaching 3.3% against the 2% average forecast by analysts.

These better-than-expected data seem to rule out a US recession in the immediate future, without however lowering expectations of a Federal Reserve rate cut in March.

Traders consider there to be a 46% chance that the Federal Reserve will cut rates at its March 20 meeting, compared with 40% yesterday, according to CME Group's Fedwatch barometer.

As the days go by and the data improves, it looks like the Fed is on track for a soft landing, with minimal damage to the economy", commented Callie Cox, US market analyst for eToro.

On other markets, the reaction was minimal: the dollar slightly accelerated its gains against the euro, a victim of the ECB's more conciliatory tone, and the US 10-year climbed as high as 4.18% before falling back to around 4.13%.,

On the value side, the technology sector again stood out, gaining 1.2% in the wake of IBM's reassuring publication, which confirmed all the promises of AI for tech heavyweights.

The IT group's share price climbed 12% to a new ten-year high after reporting favorable forecasts for 2024.

Conversely, Tesla's results and, above all, its outlook were disappointing, causing the electric car manufacturer to fall by almost 10%.

Boeing was also down, losing a further 4%, with analysts at Bank of America advising investors to stay away from the stock in view of the complications arising from the problems with its 737 MAX aircraft.

Copyright (c) 2024 CercleFinance.com. All rights reserved.