Wall Street reopened with a rare opening gap of more than 1%, and even 1.6% for the Nasdaq (between 13,800 and 14,015Pts).

The S&P500 posted its best closing score since September 14, and the Nasdaq since the end of August.

Gains only increased throughout the morning, before scores stabilized in high water until the close.
The S&P500 gained almost +2%, the Dow Jones +1.47%, the Nasdaq +2.37% (with Tesla at +6.1%, Lucid +5%,

The historic +5.4% explosion of the Russell-2000 in a single session testifies to a veritable wave of panic buying that propelled the index from 1.705 to 1.797: almost +100Pts, a score the 'Russell' only achieved after a full month's rise, first in January and then in June...

It was an all-out bullish firework display on Wall Street, with 92% of stocks up and 100% of sectors up, the '10-year' T-Bond erasing -16 basis points to 4.445% in response to CPI coming in 0.1% below consensus (and -0.5% weaker than in September).

The easing of interest rates triggered an explosion in financial and property stocks, with rises ranging from +7% for Pulte Group to +8.3% for Zions and MCD, +9.10% for Keycorp, +9.6% for Beazer Homes and +11% for Alexandria Property (the property sector was down 33% over the past 12 months before Tuesday's rebound).

The SOX semiconductor index also scored highly, jumping +3.6% (with Marvell Techno +6.7%, Microchip +6.1%, NXP +5.4%, Illumina +5.1%, Intel +3%, Applied Materials +2.9%...) and has gained +46% since January 1st (i.e. 1.5% more than the Nasdaq-100), once again extending its - already enormous - lead over other sectors.

Thanks to this surge in semi's, the Nasdaq is back above the 14.000 (+2.3% to 14,095) for the first time since the end of August (i.e. +11% in a straight line since October 26).

The publication of the latest inflation figures in the USA has completely dispelled fears of a tightening of US monetary policy in December, but also between now and May 2024.

The CPI rose by 3.2% in October compared with the same month of 2022, compared with +3.7% in September.

Excluding energy and food, two traditionally volatile categories, the annual inflation rate stood at 4% last month, also slightly below consensus (4.1%).

Note the spectacular fall in the dollar's remuneration on the '2-year' maturity, with -20 basis points to 4.840%.

The Dollar Index fell -1.4% to 104.10, its lowest level since September 12, while the Euro soared +1.7% to 1.0885, its biggest gain of the year in less than 4 hours, erasing all losses since August 30.

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