Wall Street opens higher, please give me the result, the Fed is relieved-May 26, 2022 16:44



The New York Stock Exchange opened highs on Thursday, positively surprised by corporate performance and reassured by the surprising tone of the US Central Bank (FRB).

At around 2:30 pm Greenwich Mean Time, the Dow Jones rose 1.42%, the Nasdaq Index with a strong technological mix rose 1.77%, and the broader S & P 500 Index rose 1.48%.

Patrick O’Hare of Briefing.com commented, “It’s been a good week so far. It hasn’t been for two months.”

“The market is relieved that there were no bad surprises in the minutes of the last Fed meeting,” said Karl Herring of LBBW Bank.

The central bank mentioned at its next meeting that the Fed’s key rate would rise by 0.5 points, but not a significant increase of three-quarters.

Traders now estimate that institutional investors are more than 66% likely to slow down tightening from September, up from less than 40% just a week ago.

Another positive signal, the latest corporate publications, is much better than expected.

Why retailers Macy’s, Williams Sonoma, and Dollar General are a little optimistic for American consumers if the market is crippled by the disappointing numbers of Target, Wal-Mart, and Snapchat in a recent session. I showed. ” Note, Edward Moya of Oanda.

In a presentation of the results (+ 14.13% to 21 $ .92), Macy’s CEO said, “Customers continue to buy despite increased macroeconomic pressure on consumer spending last quarter. I have. ”

For low-cost distributor Dollar General (+ 11.23% to $ 217.27), we raised our annual financial forecast after surpassing analysts’ expectations in the first quarter of the fiscal year (February-April). rice field.

Wall Street also welcomed the announcement of the $ 61 billion acquisition of remote computing specialist (cloud) VMware (+ 2.90% to $ 124.04) by semiconductor maker Broadcom (+ 3.20% to $ 548.66).

This operation is a ray of light for the sector, which has had a very difficult start this year on the stock market.

However, the day’s strength was somewhat undermined by the 1.5% reduction in US gross domestic product (GDP), which was first announced in the first quarter, compared to 1.4%.

This week we were able to see the end of the eight-week continuous decline in the Dow Jones, the longest since 1923, but investors are still uncertain.

“Everyone knows that stocks have fallen below the technical threshold, is that enough for a technical rebound, or have we reached the actual floor?” Karl Herring asked.

In the stock market, graphics card maker Nvidia (+ 1.51% to $ 172.31) benefited from better results than analysts expected, even if the forecast was disappointing.

Twitter also wanted after announcing Wednesday that Elon Musk had raised the share of direct donations on the table to buy social networks to $ 33.5 billion from the originally planned $ 21 (+ 4.62). % To $ 38.88).

Therefore, the entrepreneur has abandoned the entire $ 12.5 billion loan guaranteed by Tesla shares that he originally planned to subscribe to. This made a profit on Thursday under the electric vehicle manufacturer (+ 3.66%, $ 682.89).