The New York Stock Exchange reversed the trend of recent days on Monday and avoided a third consecutive fall, helped by purchases at a good price and good data on the US economy.
The Dow Jones Industrial Average gained 0.70% to 34,049.46 points, while the NASDAQ Composite Index rose 1.29% to 13,004.85 points, and the expanded S&P 500 Index rose 0.57% to 4,296.12 points.
For Tom Martin, of Globalt Investments, “with last week’s wave of sales, levels were reached that caused a rebound, mainly technical, after starting the day again in the red.”
The search for good deals has benefited several large companies, analysts at Briefing.com noted in a note. Thus, Microsoft (2.44%), Alphabet (3.04%), or Nvidia (1.98%), which have had a difficult month of April so far, rose.
Wall Street had a moment of calm before the close after days of rising US bond rates and volatility.
The yields of the 10-year Treasury bonds thus went to 2.81% compared to 2.90% on Friday.
Fears of a slowdown, even a recession in several large countries, have not disappeared, but for Tom Martin, investors see the United States better off than its peers.
“The consumer is in shape” in the world’s largest economy, Martin said, referring to the first results of companies that showed that price increases for their products did not reduce demand. “Employment is also doing well,” he added.
The last minutes of the day were encouraged by the announcement of the purchase of Twitter by Elon Musk, the founder of Tesla, for 44,000 million dollars, a news that took the shares of the company 5.66% higher, to 51.70 dollars per paper. Tesla instead lost 0.70% to $998.02.
In another fallout, the Dogecoin cryptocurrency, which Musk has been promoting since last year, gained more than 20 percent.
In Mexico, the S&P/BMV IPC, the main index of the Mexican Stock Exchange, lost 0.92% to 52,703.79 points, while the FTSE-BIVA, of the second stock exchange, the Institutional Stock Exchange, fell 1.11% on Monday to 1,089.49 integers.