Friday, December 8, 2023

Wall Street opens on mixed ground and the Dow Jones falls 0.28%

Wall Street It opened this Thursday in mixed terrain and the Dow Jones Industrials, its main indicator, lost 0.28% at the opening, when investors analyze what the next movements of the Booking US Federal (Fed)

Fifteen minutes after the start of operations on the Stock Exchange NYthe Dow Jones fell to 33,328 units and the selective S&P 500 subtracted 0.04% to 4,157 points.

For his part, he composite index of the Nasdaq market, in which the main technology companies are listed, advanced 0.32% to 12,541 integers.

The president of the Federal Reserve Bank of Dallas, Lorie Logansaid today that economic data does not justify for the moment skipping a rate hike at the next central bank meeting in June.

While noting some progress in reducing the inflation and the cooling job market, Logan said the Fed still has work to do to achieve its price stability goal.

The operators Wall Street leaders also have their eyes on the Democratic-Republican debt ceiling talks.

The president of United States, Joe Bidenwas sure yesterday that there will be an agreement between Democrats and Republicans on the debt limit that will avoid the suspension of payments of the country, because all the leaders involved “understand the consequence” of not reaching that consensus.

“We had one meeting productive and I am sure that everyone in the room agreed” on the need to reach a consensus, because “there is no other alternative,” Biden said yesterday about this negotiation which is increasingly urgent, given that, according to Treasury calculations, the country will not be able to meet its payments as of June 1 if the agreement on the debt limit is not reached.

Today the chain American retailer Walmart reported operating income in its first fiscal quarter of 2024 of $6.24 billion (€5,780 million), 17.3% more than in the same period last year.

By sectors, the greatest gains were for goods nonessential and communications, which rose 0.65% and 0.61%, respectively. While the biggest losses were for real estate and public services, with a drop of 0.86% and 0.84%, respectively.

Among the 30 Dow Jones stocks, the companies with the biggest losses were Procter & Gambie (-2.06%) and UnitedHealth (-2.06%), while the biggest gains were for Intel (2.7%) and Walmart (2.22%).


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