The S&P 500 index, which includes the 500 largest companies listed on Wall Street, finished at a high on Friday after US figures showing high inflation but in line with expectations.
The S&P 500 rose 0.33% to 4,280.70 points and the Dow Jones, helped by the sparkling stock market health of Nike, gained 0.69% to 34,433.84 points.
The Nasdaq, with strong technological coloring, on the other hand fell by 0.06% to 14,360.39 points.
Over the week, the S&P 500 rose 2.74%, the Dow Jones 3.44% and the Nasdaq 2.35%.
“The macroeconomic news was good with inflation at the level expected by the market,” notes Peter Cardillo of Spartan Capital Securities.
Inflation in the United States reached 3.9% last month, year-on-year, amid a strong recovery in the US economy, according to data released Friday by the Commerce Department.
This rise, largely due to the surge in energy prices, has not worried investors who seem less concerned that the American Central Bank (Fed) will tighten its monetary policy in the short term.
Over one month, the rate of inflation even slowed down to + 0.4%, against + 0.6% in April.
“The market continues to rise and I believe this should continue in the next few days,” predicts Mr. Cardillo. “But I think there is also a little too much self-righteousness and that we might see a downturn soon.”
The Dow Jones index was also boosted on Friday by the very sharp rise in Nike shares (+ 15.53%), which the day before announced a solid quarterly turnover (March to May) in America of the North thanks to the resumption of sports activities and the continued growth of online sales.
Among the other values of the day, FedEx fell 3.63% despite better than expected results but clearly not sufficient in the eyes of Wall Street. The American letter and parcel transport group also spoke of difficulties in hiring to meet demand.
Virgin Galactic (+ 38.87%) took off after receiving authorization to fly customers in space from the US air transport agency, which officially gives the green light to space tourism.
Major US banks, such as Wells Fargo (+ 2.66%), Bank of America (+ 1.93%) and Morgan Stanley (+ 1.52%) ended up in the green after passing tests with flying colors on Thursday. resistance organized by the Fed, which consequently lifted restrictions imposed during the pandemic on dividend payments and share buybacks.
In the bond market, the 10-year rate on US debt was up to 1.53% Friday afternoon, against 1.49% Thursday night.