(New York) The New York Stock Exchange began the last week of the year modestly in the green on Tuesday, after a long Christmas weekend where the markets remained closed.
The Dow Jones index gained 0.17%, the NASDAQ, with its strong technological dominance, advanced 0.37% and the S
On Friday the broad index, the most representative of the market, had signed its longest period in positive territory after eight weeks of increase. THE
The Dow Jones index lost 0.05% to 37,385.97 points and the NASDAQ advanced 0.19% to 14,992.97 points.
Wall Street still promises “goodies when we return from the Christmas weekend,” said Patrick O’Hare of Briefing.com, adding, however, that the market was going to be depopulated this week which will end with another three-day weekend .
“Today’s session is part of the Santa Claus bull market”, the traditional period of increase which generally occurs during the last five trading sessions of the year, the analyst further underlined.
Investors’ momentum is driven by the prospect of interest rate cuts by the American central bank (Fed) in 2024 while inflation is declining in the United States.
In the bond market, ten-year yields were almost stable at 3.90% compared to 3.89% at the previous close.
At the stock price, the market was digesting two buyout announcements in the pharmaceutical sector.
The American group Bristol Myers Squibb (-0.06%) will buy the radiotherapy products company Rayzebio for $4.1 billion. Its stock soared 101% to $60.65 to catch up with the amount offered per share ($62.50).
Furthermore, the British laboratory AstraZeneca announced the acquisition of Gracell Biotechnologies based in China, for $1.2 billion. Gracell shares listed on Wall Street gained 59% to $9.88. Those of AstraZeneca were stable. The London market was closed on Tuesday.
Microprocessor giant Intel climbed 2.42% after confirming that it would invest $25 billion in a manufacturing unit in Israel, aided by the Israeli government to the tune of $3.2 billion.
Apple’s action (-0.30%) was barely disturbed by the ban on sales in the United States of certain models of its connected watch due to patent infringement.
The suspension of the sale was declared on December 18 by the United States International Trade Commission and on Tuesday, the Biden administration having not vetoed this decision, the ban came into force.
Manchester United football club, listed in New York, climbed 3.02%.
The Glazer family sold part of the English club to British billionaire Jim Ratcliffe, founder of the petrochemical group Ineos, eager to restore it to its former glory.
The American owners remain in control, but the sale of 25% of the shares to the 71-year-old industrialist represents a first significant disengagement since their arrival in 2005.
