A good recovery session on the New York Stock Exchange (closed on Monday due to Martin Luther King Day): US indices close sharply higher (after a cautious start) and the Dow Jones (+1.24%) returns to the 44,000 mark, its best since December 12.

S&P500 gains 0.9% (with 85% of shares up), Nasdaq only +0.65%... but still up +0.7% in the 'after hour'. Indeed, Netflix, which published its results this evening, soared +13% (new record at $985, well above the $942 of 12/11/2024) and its capitalization leapt above $400 billion.

In his inaugural speech, Donald Trump declared a "state of energy emergency" and promised, unsurprisingly, to put America and its reindustrialization first, but he remained vague about the introduction of new tariffs (25% applied against Canada and Mexico on February 1?).).

This evening's announcement of massive investments in AI led to a rush on semiconductor stocks: ARM soared +4%, Micron climbed +3.5%, Nvidia +2.3%... which regained its position as the world's largest capitalization ($3,445 billion) at the expense of Apple, down again (-3.2% and $3,348 billion in 'capi').

Equity investors are filling up, as the promised tax cuts and deregulation policies should boost corporate profits", says Bruno Lamoral, portfolio manager at DPAM.

"Investors have remembered that his first presidency was marked by high volatility in financial assets, but above all by a 68% rise in the S&P 500", points out Christopher Dembik, investment strategy advisor at Pictet AM.

On the oil market, WTI per barrel is down 2% below $76 on the NYMEX: the so-called 'state of energy emergency' means more oil production, and therefore potentially lower prices in the long term.

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