Wall Street rebounds, Chinese stocks and “techs” at the forefront, Company news

PARIS, June 6 (Reuters) – The New York Stock Exchange opened higher on Monday and erased much of the losses suffered in the previous session, benefiting from a general resurgence of optimism on the economic situation and the marked rebound in the Chinese stocks listed on US markets.

A few minutes after the start of trading, the Dow Jones index gained 201.8 points, or 0.61%, to 33,101.5, the Standard & Poor’s 500 rose 0.99% to 4,149.13 and the Nasdaq Composite took 1.43% to 12,184.06.

They had fallen 1.05%, 1.63% and 2.47% respectively on Friday after the monthly US jobs report, in which investors saw a new argument likely to justify a rapid policy tightening. monetary policy from the Federal Reserve, an unfavorable outlook for equities.

Market sentiment is more positive on Monday after the announcement of a further easing of health restrictions in Beijing, which should support the recovery of activity and the easing of tensions in supply chains.

Investors are also welcoming news reports that Chinese authorities are set to allow ride-hailing giant Didi Global to re-enter major global app stores after a cybersecurity investigation.

The Didi share thus jumped 59.3% and dragged in its wake other major Chinese stocks listed on Wall Street such as JD.com (+7.77%), Baidu (+4.68%) or Alibaba Group ( +7.68%).

On the side of the heavyweights of the American “tech”, Alphabet, Microsoft, Meta Platforms and Apple take between 1.4% and 2.5% while Tesla rises by 2.9% after having lost more than 7% last week .

Down, Twitter fell 5.03% in reaction to the latest twist in the soap opera of its proposed takeover by Elon Musk: the multi-billionaire warned the social network by mail that he could give up his offer if he did not. did not provide the data he asked for on the fake user accounts.

The week which begins will be dominated, for the American markets, by the publication Friday of the monthly figures of the prices with the consumption in the United States, with five days of the decisions of the Fed.

(Writing by Marc Angrand, editing by Kate Entringer)


Leave a Comment