Friday, December 8, 2023

Wall Street opens on mixed ground and the Dow Jones falls 0.41%

Wall Street The month of June began this Thursday in mixed terrain and the Dow Jones Industrials, its main indicator, lost 0.41% at the opening, after the US House of Representatives passed a debt ceiling bill yesterday in a crucial step to prevent a US default.

Ten minutes after the start of operations at the NYSEthe Dow Jones fell to 32,772 units and the selective S&P 500 subtracted 0.04% to 4,178 points.

For his part, he composite index of the Nasdaq market, in which the main technology companies are listed, gained 0.05% to 12,941 integers.

The negotiations between democrats and republicans on the debt ceiling have been at the center of investors’ concerns for weeks.

Politicians have until 5th June to approve the measure in both chambers, the date on which the Treasury Department calculates that the country will exhaust its reserves.

yesterday, the extent it was approved in the lower house by a vote of 314-117 with bipartisan support.

The majority leader SenateDemocrat Chuck Schumer, said he hopes the Senate can “move the bill quickly” for President Joe Biden to sign it “as soon as possible”, which is the last step to approve this budget.

“The US Government is about to reach an agreement to increase the debt limit federal, which should bring some relief to the outlook for the economy and the markets. However, investors should consider the risks that may emerge even after the debt ceiling impasse is resolved,” writes analyst Vishy Tirupattur, for Morgan Stanley.

Beyond the battle for the debt ceiling, investors await the meeting of monetary politics from the Federal Reserve (Fed) on June 13 and 14 as another possible market catalyst.

Philadelphia Fed President Patrick Harker said yesterday that he is inclined to skip a rate hike at the next meeting.

By sectors, the greatest gains were for the communications and financialwhich rose 0.52% and 0.38%, respectively, while the biggest losses were for real estate and public services, with a drop of 0.74% and 0.6% respectively.

Among the 30 values ​​of the Dow Jones the companies with the biggest losses were Salesforce (-4.9%) and Amgen (-3.4%), while the biggest gains were for Visa (1.34%) and Boeing (1.22%).


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