Skip to content
Wall Street closes a nightmarish week up sharply


The New York Stock Exchange ended sharply higher on Friday on a technical rebound after a nightmarish week as investors doubted the worst was over.

The Dow Jones gained 1.47%, the Nasdaq index gained 3.82% and the broader S&P 500 index rose 2.39%.

For analysts at Wells Fargo, Wall Street offered itself “a break in the form of an increase”, after five negative sessions in a row for the Dow Jones and a new dropout for the Nasdaq. A technical rebound, according to them, several technical thresholds having been exceeded downwards.

“We needed it but it is perhaps not yet very significant”, commented Gregori Volokhine, president of Meeschaert Financiel Services. “It would take several rising sessions to say that the worst is behind us and that, frankly, would surprise me. »

“It should also be noted that the rebound is not made on any news,” he noted, but “a bit in a vacuum. »

Over the week, the Dow Jones remains down 2.13%, while the Nasdaq drops 2.79%.

The mood was playful on Friday and the VIX index, which measures market volatility, fell to its lowest level in a week.

With the ray of sunshine that bathed Wall Street, the pariahs of the rating were at the party, after days or weeks of serving as a whipping boy in the market.

Roblox (+15.36%), Rivian (+9.88%), Snap (+8.70%), Netflix (+7.65%) or AMD (+9.26%) were thus searched.

In this climate of bargain hunting, even the heavyweights of the rating jumped, first and foremost Apple (+3.19% to 147.11 dollars), which had reached its lowest level in eight months the day before.

Even GameStop (+9.85%), Peloton (+16.52%) or Shopify (+13.85%) benefited from the suction.

“Among the biggest performances, we find the + same stocks + (“viral” actions like GameStop) and the actions of poor quality”, pointed out Gregori Volokhine. “It means that there are quite a few covers of + shorts + and that it is not yet enough to give the sign of a real rebound. »

In addition to buying on the cheap, the session will thus have been fueled by the hedging operations of speculative operators, who after having bet in recent weeks on the decline on stocks or indices (or “shorted”), have picked up the bet.

The “tech” was also supported by some good results, in particular those of the credit payment specialist for online commerce Affirm (+31.43% to 23.71 dollars), whose quarterly turnover is came out better than expected and the loss less than expected.

As for the specialist in shared offices WeWork (+20.07% to 6.76 dollars), it reduced its loss in the first quarter and analysts at Piper Sandler estimated, in a note, that the group was approaching profitability.

Another takeoff, that of the online brokerage platform Robinhood (+ 24.88% to 10.69 dollars), which benefited from the announcement of a 7.6% stake in the blockchain entrepreneur Sam Bankman-Fried.

Friday also marked a new episode in the Twitter saga, the takeover of which was suspended “temporarily” by Elon Musk. The entrepreneur says he wants to verify that fake accounts represent less than 5% of the total, as claimed by the blue bird group.

After plunging in pre-opening electronic trading on Wall Street, the stock rallied a bit but still ended down 9.67% at $40.72, supported by a new tweet from Elon Musk: “still committed to this acquisition”.

Twitter is now worth 25% less than the price offered by Mr. Musk, which indicates the doubts of many investors about the success of the operation.

By effect of communicating vessels, the action Tesla, of which Elon Musk is at the head, offered a rise (+5.71% to 769.59 dollars). The action had lost more than 23% over the previous six sessions.

zimonewszimonews Trans

Not all news on the site expresses the point of view of the site, but we transmit this news automatically and translate it through programmatic technology on the site and not from a human editor.