Monday, December 4, 2023

Wall Street closes in green and the Dow Jones gains 0.25% with the drop in inflation

Wall Street closed this Wednesday in the green and the Dow Jones Industrials rose 0.25% supported by a new drop in inflation in the United States, which allowed the selective S&P 500 and the Nasdaq index to finish at their highest level since April of last year.

At the close of business in the NYSEthe Dow Jones stood at 34,347.43 points, while the S&P 500 advanced 0.74%, to 4,472.16, and the Nasdaq gained 1.15%, to 13,918.96 units.

Wall Street, which this week had already accumulated two days of gains, continued to be positive after the US authorities announced that the inflation rate fell one point in June, to 3%, reaching its lowest level since before the pandemic.

US inflation has fallen for 12 consecutive months since in June 2022 it broke its record of the last 40 years by standing at 9.1%.

In monthly terms, the consumer prices they rose two tenths compared to May, a slightly better figure than expected by analysts.

With these data in hand, the Federal Reserve (Fed) You must now decide whether to raise interest rates again this month, as planned, or whether to leave them at the current range.

The markets, according to the experts, take it for granted that there will be a rise in July, but the drop in the inflation makes some analysts think that this may be the last of the year.

Virtually all sectors ended the day with gains, led by communications companies (1.51%), public services (1.47%), raw materials (1.29%) and technology (1.25%).

Only the sanitation and industrial companies registered very slight decreases in the 0.28% and 0.20%, respectively.

Between the 30 values of the Dow Jones, the gains of Salesforce (2.76%), Intel (2.03%) and Goldman Sachs (1.72%) stood out, while the biggest losses were for Cisco Systems (-2.65%), UnitedHealth (-2.42%) and IBM ( -1.19%).

Outside of that index, technological technologies such as Goal and the chip manufacturer Nvidia, while the Domino’s pizzeria chain drew particular attention, which shot up 11% after announcing that it was going to start accepting orders through the Uber Eats platform.

In other markets, the Texas oil It rose to US$75.75, and at the close of the stock market gold was progressing to US$1,963.9 an ounce, the yield on the 10-year US bond fell to 3.863% and the dollar was losing ground against the euro, with a change of US$1,113.


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