(Finance) – Wall Street continues the session on the rise, lengthening its pace with respect to the start, finding support from the good performance of technology stocks. In particular Tesla which jumped nearly 5% followed by Apple +3%. The latter benefits from indications from Morgan Stanley analysts that the Cupertino company’s stock could gain 20% and that investors should look beyond the short-term problems for the tech giant.
On the macroeconomic front, the PMI services index, in the final February reading, returned to an expansionary level, ending seven consecutive months of contraction.
Among US indices, the Dow Jones advances to 33,285 points, continuing the bullish trail highlighted by three consecutive gains, triggered last Wednesday; along the same lines, theS&P-500 gains 1.29% over the previous session, trading at 4,033 points.
Effervescent the NASDAQ 100 (+1.62%); on the same line, rising theS&P 100 (+1.43%).
Secondary consumer goods (+1.86%), telecommunications (+1.78%) and informatics (+1.67%) in good light on the S&P 500 list.
Between protagonists of the Dow Jones, Apple (+2.89%), boeing (+2.23%), American Express (+1.87%) and Goldman Sachs (+1.75%).
The worst performances, however, are recorded on Travelers Companywhich gets -0.52%.
Slow day for United Healthwhich marks a decrease of 0.51%.
To the top between Wall Street tech giantsthey position themselves Rivian Automotive, (+7.43%), Align Technology (+6.61%), Meta Platforms (+5.72%) and Atlassian (+5.45%).
The strongest declines, however, occur on zscaler,which continues the session with -10.15%.
Bad performance for Marvell Technology,which records a drop of 6.58%.
They focus their sales on Costco Wholesalewhich suffers a drop of 3.37%.
Small loss for Mercadolibre,which trades with -1.01%.
Among macroeconomic appointments which will have the greatest influence on the performance of the US markets:
Friday 03/03/2023
3.45pm USA: Composite PMI (expected 50.2 points; previous 46.8 points)
3.45pm USA: PMI services (expected 50.5 points; previous 46.8 points)
4:00 pm USA: ISM non-manufacturing (exp. 54.5 points; previous 55.2 points)
Monday 06/03/2023
4:00 pm USA: Industry orders, monthly (previously 1.8%)
Tuesday 07/03/2023
4:00 pm USA: Wholesale inventories, monthly (previously 0.1%).