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At the new height of Wall St, the Nasdaq holds the third consecutive record

At the new height of Wall St, the Nasdaq holds the third consecutive record

Shares on Wall Street were on record on Thursday, when the U.S. central bank deteriorated after congratulations fell on the attractiveness of sectors linked to economic growth.

The heavy Nasdaq Composite technology rose 0.5 percent in the evening in New York, setting a record for the third straight session. Shares of the technology were highlighted by the electric car maker Tesla and the Peloton technology-enabled fitness team. The S&P 500 also had a wide blue chip, rising 0.6 percent.

Federal Reserve officials advanced their one-year forecast of the first interest rate after the pandemic, triggering market restrictions last week. Negotiations calmed down after Fed Chairman Jay Powell assured that major obstacles to tightening monetary policy remained.

Investors also have it they adjusted their wallets since pharmacists announced effective Covid-19 vaccines, they have relied less on economically sensitive “value” stocks in industries such as energy and banking that have dominated market growth.

“Markets have been priced in an economic cycle that will be relatively lower than expected,” said Bastien Drut, CPR Asset Management strategist, referring to the period between the recovery from the pandemic accident and the next recession.

As a result of technological stocks and other so-called growth companies whose valuations are affected by future earnings calculations, long-term government bond yields have fallen, a marker has been set for how much investors will pay for corporate cash flows. .

Forecasts made by faith officials last week lowered five-year Treasury bond prices and raised 30-year bond prices. The 30-year Treasury yield, which is moving in the opposite direction of its price, fell more than 2.2 percent to 2.09 percent last Wednesday.

“The amplitude of this particular movement of growth stocks has been very large,” said Investec strategist Roger Lee.

Elsewhere, the pound fell back from its strongest level against the euro after the Bank of England said the pandemic-era monetary policy was “appropriate”.

The BoE has stated that the UK will experience “strong temporary growth” and inflation above the target “will then grow backwards and inflation”.

The value line chart has been re-created, with growth stocks returning to favor

The book, which traded 1.17 euros ahead of the BoE’s monetary policy meeting on Thursday, lost 0.4 percent against the single currency, which was 1,1664 euros. Against the dollar, the pound also fell 0.3 percent to $ 1.3912.

The London FTSE 100 index, which has accumulated with exporters gaining lighter pounds, closed at 0.5 per cent.

The yield on the 10-year government bond in the UK, which moves in the opposite direction to its price, fell 0.04 percentage points to 0.74 per cent.

In Europe, the Stoxx Europe 600 share index rose 0.9% since the Ifo Institute’s business climate index rose to an expected reading of 101.8 in June from 99.2 last month, highlighting hope among German company leaders for the eurozone’s economic power. Frankfurt’s Xetra Dax also rose 0.9% in the session.

Crude Brent, the global oil benchmark, rose 0.3 percent to $ 75.42 a barrel.

Uncovered – Markets, finance and strong opinion

Robert Armstrong examines the most important market trends and discusses how the best intelligence on Wall Street responds to them. Give your name here send the newsletter directly to the inbox every week

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