Wednesday, September 27, 2023

Wall Street closes in green and the Dow gains 0.93% awaiting inflation data

Wall Street closed this Tuesday in the green and the Dow Jones Industrials, its main indicator, gained 0.93% while waiting for new inflation data to be released this week in the United States, which may give clues about the next movements of the Federal Reserve (Fed).

At the end of operations on the New York Stock Exchange, the Dow Jones added 317.02 points, to 34,261.42, while the selective S&P 500 advanced 0.67%, to 4,439.26.

The Market Composite Index nasdaqfor its part, advanced 0.55% and closed at 13,760.70 integers.

The market maintained the positive trend of the previous day and all sectors ended the day on the rise, led by the energy companies (2.20%), public services (1.24%) and industrial (1.20%).

Among the thirty values ​​of the Dow Jones The rises of 3M (4.83%), Salesforce (3.94%) and Walgreens (2.62%) stood out, while the biggest declines were for the pharmaceutical companies MSD (-1.14%) and Johnson & Johnson (-0.55%).

The trading session It passed quietly while waiting for the United States to release data on consumer prices for June this Wednesday and for the producer price index to be published on Thursday.

The figures, after a year of consecutive falls in the rate of inflation -which was at 4% in May- can give investors ideas of how the Fed, which has raised interest rates sharply to combat rising prices, can proceed in the coming months.

In general, the expectation of the market is that the US central bank will decree another increase in its July meeting, but it is not very clear how it can act later, especially after the latest data from employment have revived the possibility of further hikes.

In other markets, the Texas oil It rose to US$74.83 a barrel and, at the close of the stock market, the profitability of the 10-year Treasury bond fell to 3.974%, gold rose to US$1,937.3 an ounce and the dollar lost ground against the euro, with a change of US $1,101.

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