Saturday, December 9, 2023

Wall Street is still green: the Dow Jones gains 0.50% and the S&P 500 enters a bull market

Wall Street closed again with rises this Thursday and the Dow Jones Industrials, its main indicator, gained 0.50%, while the broader S&P 500 finished at its highest level so far this year and entered a new bull market.

At the close of the operations in New Yorkthe Dow Jones stood at 33,833.61 points, while the S&P 500 gained 0.62% and settled at 4,293.93 units.

This index thus entered bull market, which is traditionally declared when a 20% gain accumulates from a recent low point, which in this case occurred last October.

Although it has not yet recovered the levels it reached at the end of 2021, the S&P 500 is up about 12% so far in 2023, with fairly steady progress since March.

He composite index of the Nasdaq market, where the main technology companies are listed, rose 1.02% and closed at 13,238.52 integers.

Both the Nasdaq and the Dow Jones they had previously entered that bull market to which the S&P 500 is now added, considered the most representative index of the New York Stock Exchange and less dependent on the movements of the largest companies in the market.

Wall Street chained today its third consecutive session of Profits while investors wait for new inflation data next week and the next interest rate decision by the Federal Reserve (Fed).

The expectation of some analysts is that the Fed can pause rate hikes, especially after it was revealed today that weekly jobless claims have reached their highest level since October 2021, indicating a labor market potentially weakened.

By sectors, the higher earnings on Wall Street they were for non-essential consumer goods companies (1.56%) and technology companies (1.2%), while the biggest drops were for real estate (-0.62%) and energy companies (0.44%).

Between the 30 values Of the Dow Jones, the most important rises were those of Boeing (2.92%), Salesforce (1.85%) and Intel (1.73%), while the only company with a drop of more than 1% was Dow (2.02%).


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