The New York Stock Exchange continued its upward trend on Thursday, against a backdrop of euphoria on the world's stock markets, which enabled the S&P 500 to set new records.

In late morning trading, the Dow Jones advanced 0.3% to 38,795.5 points, while the Nasdaq Composite climbed 1.3% to 16,238.8 points.795.5 points, while the Nasdaq Composite climbed 1.3% to 16,238.8 points.

The broader S&P gained 0.5% to 5151.5 points after peaking at almost 5155.4 points.

This was the second consecutive session of strong gains for Wall Street, boosted by Federal Reserve Chairman Jerome Powell's comments paving the way for further rate cuts.

Jerome Powell today reaffirmed before the Senate the speech he made yesterday before the House of Representatives, implicitly paving the way for a reduction in the cost of money in June.

According to the CME FedWatch barometer, markets now estimate the probability of monetary easing on June 12 at over 59%.

In Europe, the ECB also took a further step towards a rate cut on Thursday, revising downwards its inflation forecasts for 2024.

Wall Street continues to be driven by the technology segment, particularly semiconductor manufacturers such as Nvidia and Arm, which gained 3% and 5% respectively.

In a note released today, analysts at Amundi and its subsidiary CPRAM believe that the widespread adoption of AI will have a positive effect on long-term economic growth.

The prospect of a Fed rate cut weighed on the dollar, allowing the euro to return above the 1.0930 threshold, but the yield on 10-year Treasuries staged a technical rebound above 4.11% after plunging to 4.05% following Jerome Powell's statements.

Gold set a new all-time high at $2,172.2 an ounce in a geopolitical context that remains tense, but the most favoured explanation is that the dollar's decline and the recent easing of interest rates are favouring the precious metal.

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