Forex notification : Wall Street ended up on Thursday driven by the banking sector which benefited from the upward revision of the fourth quarter growth figures in the United States.
The Dow Jones index gained 69.17 points / 0.33%, at 20,728.49 and the Standard & Poor’s 500 took 6.93 points / 0.29% at 2,368.06, continuing a third consecutive session Up after suffering last week’s sharpest weekly decline of the year.
The Nasdaq Composite advanced by 16.80 points (0.28%) to 5,914.34, a tenth increase in 12 sessions which allows it to establish a new record closure.
US growth was 2.1% annualized over the last three months of 2016 against a previous estimate of 1.9%, after 3.5% in the third quarte.
Iron and steel prices benefited from the announcement of new taxes on steel imports from European and Asian countries. US Steel took 3.33% and AK Steel 2.26%.
Lululemon Athletica plunged 23.44% to $ 50.76, the largest decline in the Nasdaq, an unprecedented drop since 2008, bringing it down to its lowest level since December 2015. The Canadian manufacturer of yoga and gym wear The investors said they expected to see a decline in sales on a like-for-like basis in the first quarter, for the first time since 2009, due to a negative currency effect and a seductive spring collection.
In the wake, Nike fell 1.13%, the largest drop in the Dow Jones, and Under Armor (NYSE: UAA) stumbled 2.57%. “We have seen over the last 12-24 months that these values are heavily sanctioned as soon as sales begin to slow down or margins stop growing,” said Ike Boruchow, an analyst who follows the clothing industry for Wells Fargo.
Some six billion shares have changed hands in the various US markets, compared to an average of 6.8 billion over the last 20 sessions.
On the foreign exchange market, the dollar strengthened as a result of the upward revision of US GDP and weakness in the euro, which dropped the 1.07 threshold and fell back to 1,0681 dollar, a low since March 15.
The dollar index reached in the wake a two-week high of 100.51, also supported by the rise in long rates. The US Treasury’s 10-year yield, which has been steadily declining since its three-month peak on 14 March, returned to 2.42% against 2.39% on Wednesday evening.
With the firmness of the greenback, gold fell 0.7%.