The New York Stock Exchange rose to a new record high Friday night, driven by the discourse of the future president of the U.S. Federal Reserve.
Wall Street continued its race record Friday, the Dow Jones and the S&P 500 ended at new highs, still powered by the invigorating about the one to take the head of the U.S. central bank, Janet Yellen.
According to final results, the Dow Jones rose 0.54% ( 85.48 points) to 15,961.70 points, the S&P 500 Index 0.42% (7.56 points) to 1,798.18 Points.
The Nasdaq, dominated by technology, for its part, made 0.33 % ( 13.23 points) to 3985.97 points.
“It’s definitely the effect Yellen”, says Peter Cardillo, chief investment officer at Rockwell Global Capital.
Janet Yellen, the candidate of President Barack Obama for the estate of Ben Bernanke to head the Federal Reserve ( Fed) in late January spoke Thursday before the Senate Banking Committee and has delighted the market.
“She already has a lot of experience as vice president of the Fed and her remarks yesterday were finally convinced investors that it would continue in the same vein as Bernanke, or it might be even more smoothly than he on interest rates”, said William Lynch Hinsdale Associates.
She “told that monetary easing could not last forever but added that there was still no timetable set for a slowdown of support (the Fed), and it was important to wait as the recovery remains fragile”, notes his side Patrick O’Hare of Briefing.com.
Wall Street has largely benefited from the generosity of the institution since the beginning of the year, the intervention Yellen has largely overshadowed the bleak economic data from the first world power.
Industrial production in the United States on the one hand unexpectedly fell 0.1% in October, driven down by mining and manufacturing activity in the New York region fell in November to the first time since May.
Prices of imported products in the United States have also declined in October, “which reflects signs of weakness in the global economy”, says William Lynch.
The bond market closed slightly down. The yield on the 10-year Treasury rose to 2.709 % against 2.702 % Thursday evening, and the 30 -year 3.801 % against 3.800 % yesterday.