Wall Street opens on mixed ground and the Dow Jones rises 0.13%

Wall Street began the day this Wednesday in mixed territory and the Dow Jones Industrials, its main indicator, added 0.13%, as fears of a possible recession resurface.

Ten minutes after the start of operations on the New York Stock Exchange, the Dow Jones rose to 33,446.26 units and the selective S&P 500 subtracted 0.21% to 4,092.09 points.

For its part, the composite index of the Nasdaq market, in which the main technology companies are listed, fell 0.54% to 12,060.46 integers.

Data released Tuesday showed job openings fell to the lowest level since 2021 in February, a sign that the demand for workers is starting to wane.

Marija Veitmane, head of equity research at State Street, said investors have turned their attention away from the bank turmoil in March and back to the risk of a recession that could cut consumer spending and corporate profits.

“This week, we realize that we are avoiding a banking crisis, but the economic fears are still there. We are going from a financial crisis to a cyclical slowdown”Veitmane said in statements reported by The Wall Street Journal.

The sectors that opened with the highest gains were public services and essential goods, with an increase of 1.41% and 0.82%, respectively, while the sectors with the highest losses were non-essential goods and technology, which fell by 0.82% and 0.71%.

Among the 30 Dow Jones stocks, the companies with the biggest losses were Catarpillar (-1.05%) and Intel (-1.03%).

While the largest gains were for Johnson & Johnson (2.98%) and UnitedHealth (1.47%).

Johnson & Johnson shares rose after the company proposed one of the largest product liability settlements in history for $8.9 billion to settle lawsuits over the alleged presence of carcinogenic compounds in its talcum powder.