Tech stocks recovering, after the sales on the eve that led the Nasdaq, with a decrease of 1.15%, to slide in the correction phase: the hi-tech index fell, in fact, to a value lower than more than 10% compared to the November highs.
Today the price list immediately clicks at the start of the session by 1%, and then accelerated with a 1.51% rally to 14,559 points; the Dow Jones advanced 0.82% to 35,314, up more than 280 points, while the S&P 500 is + 0.96% to 4,577.
Among the hi-tech titles, Zoom Video and Microsoft stand out; Tesla, Meta Platforms – formerly Facebook – also did well by more than + 2%.
Facebook, as well as Sony, accused in recent sessions the announcement of Microsoft, which the day before yesterday announced that it had reached an agreement to buy the video game giant Activision Blizzard, for a value of 68.7 billion dollars. The deal confirms Microsoft’s determination to grow in the video game segment, and to compete more fiercely against Meta (the former Facebook) for the development of technologies that create a virtual world, the so-called metaverse.
Among other titles, focus on airlines: American Airlines announced that it reported a better-than-expected quarterly report, but also revised its guidance downwards. The stock loses more than 3%.
United Airlines also under pressure, which warned that Omicron had a negative effect on bookings, and that therefore it will slow down the post-pandemic recovery. The prices are back by about 2%.
Well Netflix, pending the publication of the quarterly, which will take place after the close of the trading day on Wall Street.
A few days ago, the American streaming giant announced that it had raised the monthly cost of its basic subscription in the United States and Canada by $ 1, bringing it to $ 9.99. The cost of the premium plan has been raised from $ 17.99 to $ 19.99, while the standard subscription now costs $ 15.49, up from $ 13.99 previously.
From the macroeconomic front, the weekly report of the initial applications for unemployment benefits was released today. The data showed that, in the week ending January 15, the number of American workers who applied for the first time to receive unemployment benefits rose by 55,000, to 286,000, at the latest since October. in 2021. The figure was worse than analysts’ estimates, which had predicted a drop to 220,000 units, compared to 231,000 units the previous week (revised upwards from the 230,000 unit growth initially disclosed).
The attention of analysts and traders remains focused on the trend of 10-year US Treasury rates, which yesterday touched the 1.90% threshold for the first time in more than two years, exactly since December 2019.
At this point, the expectation of a maxi rise in US rates in March, equal to 50 basis points, is becoming more and more widespread among economists to calm inflation expectations.
The 10-year rates have retraced in the last few hours from their highs, and are currently around 1.834%.