Monday, December 4, 2023

Wall Street opens in green and the Dow Jones rises 0.71%

Wall Street The week begins in green and the Dow Jones Industrials, its main indicator, rose 0.71%.

Ten minutes after the start of operations at the NYSEthe Dow Jones stood at 34,591 units and the selective S&P 500 added 0.57%, up to 4,431 points.

For its part, the composite market index Nasdaq, In which the main technology companies are listed, it rose 0.69%, to 13,684 integers.

Investors continue to analyze the speech given last Friday by the president of the Federal Reserve, Jerome Powell, at the Jackson Hole symposium in Wyoming.

Powell stated that the regulator will continue to keep rates high until the inflationalthough it opened the door to a possible pause in the climbs.

“We are prepared to further increase rates if appropriate and intend to maintain the policy at a restrictive level until we are sure that inflation continues to decline sustainably towards our target,” he said.

However, in the conclusions of his speech he did open the door for a pause: “In the next meetings we will evaluate our progress based on the totality of the economic data and evolving prospects and risks. Based on this assessment, we will proceed cautiously in deciding whether to further tighten monetary policy or, conversely, hold the rate,” he said.

As of Monday morning, investors believed with a probability of almost 20% that the Fed could raise rates again at its next meeting in September, according to CME Group’s FedWatch tool.

By sectors, green reigned and the main gains were for the energy and communicationswith increases of 1.13 and 1.05%, respectively.

Among the 30 values ​​of the Dow Jones the only losses were for Merck (-0.2%) and Johnson & Johnson (-0.15%), while the biggest gains were for 3M (6%) and Goldman (1.6%).


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