(New York) The New York Stock Exchange ended slightly higher on Monday, narrowly setting a new record for the S

The Dow Jones index advanced 0.18% to 38,868.04 points. The tech-heavy NASDAQ gained 0.35% to 17,192.53 points, a new high. THE

“The market reversed the trend and performed quite well, considering the rise in bond yields” in the absence of macroeconomic data, commented Peter Cardillo of Spartan Capital as Wall Street started in the red.

Two factors played a role, according to him, allowing stocks to recover. Oil prices soared by almost 3% per barrel of West Texas Intermediate, which supported the sector’s stocks (0.74%).  

But it was technology that gave Wall Street its boost, particularly Meta (up 1.96%), Microsoft (up 0.95%), and Amazon (up 1.50%).

The Apple group, which had climbed sharply on Friday, lost 1.91% even though it announced the launch of Apple Intelligence, a new system for optimizing the use of its devices, from the iPhone to the Mac, thanks to generative artificial intelligence (AI).

To do this, the Apple company has entered into a partnership with OpenAI, one of the masters of generative AI with ChatGPT.

Apple Intelligence will feature in the new version of the iOS 18 operating system, also revealed Monday at the week-long developer conference.  

Beyond these one-off announcements, investors have positioned themselves in relation to the macroeconomic announcements which will take place on Wednesday.

The market has no doubt that the Federal Reserve will leave rates unchanged at their highest level in more than twenty years. But the Fed must publish new forecasts and investors are watching for any indication of future rate cuts.

“The Fed meeting is going to be complicated by the morning release of the CPI index. If inflation is low, everything is fine. If not, their breakfast will be ruined,” commented Chris Low of FHN Financial as well.

Analysts forecast that consumer prices rose 0.1% in May to remain at 3.4% year over year, according to MarketWatch.

The market has 46.7% confidence that a Fed rate cut could come in September, according to CME Group futures product calculations.

Bond rates, spurred on Friday by job creation much stronger than expected at 272,000 in May, remained on an upward slope.  

Around 6 p.m. EST, yields on the 10-year Treasury note were settling at 4.46% compared to 4.43% on Friday.

After the European elections which saw a rise of the far right in France and Germany in particular and the surprise decision of French President Emmanuel Macron to call legislative elections, the euro took a nosedive.

It lost 0.36% against the dollar. The euro fell to 1.0762 dollars per euro.

Elsewhere on the stock market, the action of AI chip designer Nvidia gained 0.75% to 121.79 dollars, after its division by ten at the end of Friday’s session where it closed at 1198, 40 bucks.

Its semiconductor rival AMD fell 4.49% after a rating downgrade by analysts at Morgan Stanley.

Eli Lilly Laboratories climbed 1.88% after taking a first regulatory step with the FDA health authorities towards the authorization of a new drug against Alzheimer’s disease.

Real estate investment trust KKR soared 11.22%, while cybersecurity specialist CrowdStrike gained 7.29% and website registration platform GoDaddy rose 1.94%. All three stocks will be included in the broader S index