Wall Street: calm returns, Tesla gains 10% after hours

Wall Street continued to recover a day earlier on Tuesday, a logical situation after a series of six periods of decline, including a real ‘sell’ in semiconductors on Friday night.

While the Dow Jones gained only +0.7% to 38,503, the S&P500 gained +1.2% to 5,070 and the Nasdaq Composite rose +1.6% to 15,696, following Amazon +1.3%, Microsoft +1.7%, Microchip +3.2%, Illumina +3.5%, Nvidia +3.7%, Netflix +4.2%…

Tesla also gained +1.9% before its results: worse than expected, the drop in sales of the electric car manufacturer did not impress Wall Street and the title was restored +10% after hours.

A key sign of the return to stability in US markets, the ‘VIX’ volatility index continued to ease and returned to around 16.3 (compared to 18.6 on Monday when trading resumed).

Another positive factor, new home sales rose unexpectedly by +8.8% in the US in March despite high interest rates, and the average sale price has started to rise again.

On the other hand, growth in the US private sector slowed in April, according to the S&P Global Composite PMI index which reached 50.9 in the flash estimate, compared to 52.1 at the end of the data for the previous month.

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