Wall Street continues to ignore rate pressures (the optimistic version sees them as proof of the robustness of the US economy) and pile up records: a new double for the S&P500 (+0.06%) with an intraday high (5,001) and closing high (4.998), a new closing record for the Dow Jones (+0.13% to 38,726, thanks to Disney's +11.5%) and a double annual record for the Nasdaq (closing at 15,793 and 15,813 intraday).

The Nasdaq (+0.24%) was kept in the green by NXP +2.9%, Doordash and Booking +3.5%, ON Semiconductors +4.9%. The US indices are thus well on their way to a 14th week of gains in a series of 15 (the longest bull run in 52 years).

The publication of US jobless claims confirmed the hypothesis of a "soft landing" for the economy, with a further fall last week, from 9,000 to 218,000. The number of people receiving regular benefits fell by 23,000 to 1,871,000 in the week to January 22.

Symmetrically, T-bonds continued to plummet, with yields trending towards 4.163% for the '10-year' (+6.5 basis points) and 4.365% for the '30-year' (+6 basis points).

Yields at record highs for 2024, stock market indices also at record highs... investors still seem convinced that a 'Goldilocks'-type scenario is materializing, prompting them to continue to turn to the equity markets.

GAFAM' results literally carried the S&P and Nasdaq, but results published after the close on Thursday were heavily punished: after Snap's -35% loss, Pinterest fell -20% and Expedia -14% shortly after 10:00 pm after slightly missing their sales targets. PayPal fell -11.2% during the session.

WTI rose +3.3% to $76.5 a barrel, while the greenback held steady against the euro at $1.0775.

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