The If so of New York closed in green this Friday, in a shorter session the day after the holiday Thanksgiving and with a market driven by the expectations that the Federal Reserve (Fed) cut interest rates in December.
The Dow Jones gained 0.61%, the Nasdaq technology index added 0.65% and the expanded S&P 500 advanced 0.54%.
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The New York Stock Exchange experienced a calm session and three hours shorter after the Thanksgiving holiday, during which markets were closed.
“Hopes that the Fed can lower its interest rates is what kept investors optimistic today,” CFRA analyst Sam Stovall told AFP.
Several economic indicators of USA that were published in the week reinforced the operators in their hypothesis that the rates of the Fed by a quarter of a percentage point during the monetary meeting on December 9 and 10.
Between production prices that continue to rise and consumer confidence in free fall, the data showed a disturbing picture about the state of the US economy.
But a monetary easing policy would help economic growth and therefore increase companies’ profit prospects.
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Market players now await “news on inflation”, mainly from the consumer price index (PCE) for September, which is published next Friday, said Peter Cardillo, of Spartan Capital Securities.
Several key indicators were released late due to the 43-day government shutdown that affected the country. Some data will no longer be disclosed.