Sunday, May 28, 2023

Wall Street opens mixed and the Nasdaq rises 1.3% due to the pull of Nvidia

Wall Street It opened this Thursday in mixed territory and the Nasdaq, in which the main technology companies are listed, rose 1.3% at the opening due to the pull of Nvidia shares that have shot up 22.5% after the announcement of its business results.

Ten minutes after the start of operations at the NYSEthe Dow Jones Industrials, its main indicator, fell 0.40% to 32,668.73 units and the selective S&P 500 also gained 0.45% to 4,133.62 points.

For his part, he composite index of the Nasdaq market rose to 12,648.78 integers.

The actions of the maker US Nvidia processors have shot up 22.5% after the company announced yesterday the business results for the first quarter of its fiscal year, in which it earned 26% more than the same year last year.

Some commentators have pointed out that the company could reach a billion dollars in stock valuation, a barrier that only a handful of companies like Apple, Microsoft, Alphabet or Amazon have reached.

Nvidia announced on Wednesday a net profit of US$2,043 million (€1,899 million) in the first quarter of its fiscal year, driven by the development of artificial intelligence (AI).

The technology had a turnover of US$7,192 million in the three months ended May 1, down 13% year-on-year, but its core business, data centers, remained strong and posted record revenue, it said in a statement.

This jump today of the Nasdaq contrasts with the decrease of the past days due to the fears that Washington could run out of funds to pay its debts on June 1 if Congress fails to agree to raise the debt ceiling, which was reached in January and marks the legal limit of money that the government can borrow. An issue that has been generating nervousness among investors for several days.

By sectors, the color red dominated in Wall Streetbeing the biggest losses for energy (-2.46%) and essential goods (-1.16%), while technology led the gains with a rise of 3.12%.

Among the 30 values ​​of the Dow Jonesthe companies with the highest losses were Intel (-4.29%), Chevron (-2.31%) and Walgreens (-2.08%), while the gains were recorded above all by Microsoft (2.34%) and Salesforce (0.88%).


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