Wall Street has reopened without any real trend, but there’s still nothing at the close, and if we stick to the Dow Jones (-0.35%) and S&P 500 (+0.15%), perhaps there’s even a sign of heaviness. .
However, the Nasdaq 100 (+0.9%) had the second-best closing price in history (20,550) and reached the second-best intraday score of 20,600 (20,690 on July 10).
And, even more remarkable, a stock that could very well be called the all-time high is still rising even as yields have returned to their lowest levels since July 4: the 10-year bond. has increased by +74 points (up to 4.34%). ) Since the low of 3.600% on September 17th: Last night, T-bonds finally fell -2 points to 4.2580, and a lull appeared (the “30-year bond” yield was up to 4.57%, down from the previous 7 (worst score since April 4th) balanced at 4.500%, or -3 points).
All is well in the semiconductor sector, with Cadence Design (+12.5%), Broadcom (+4.2%), AMD (+4%), and Super Micro (+2.9%).
Ford was the day’s biggest decliner, plunging -8.5% due to a $1 billion loss in its electric vehicle division.
There was little movement on the macroeconomic front. The Conference Board’s U.S. Consumer Confidence Index rose significantly in October, according to the conference board’s employer group’s monthly survey. The index was 108.7 compared to 99.2 last month (revised from 98.7 initially).
Specifically, the sub-index measuring Americans’ current state of affairs rose 14.2 points to 138, and the sub-index measuring expectations rose 6.3 points to 89.1, moving away from the 80 threshold that typically signals a recession.
Note: Even with the combination of rising interest rates and the dollar, gold prices are still soaring, setting a new record of over $2,770/oz. This is the first time this has happened in over 50 years.
The SPDR Gold Stock ETF (+1.1%) also hit an all-time high of $256, reaching a market cap of $60 billion for the first time.
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