Wall Street opens with indicators down due to the lack of agreement on the debt

Wall Street opened lower this Tuesday and the Dow Jones Industrials, its main indicator, lost 0.36% at the opening, when investors fear that the limit is approaching for Republicans and Democrats to reach an agreement on the US debt ceiling.

Seven minutes after the start of operations on the New York Stock Exchange, the Dow Jones fell to 33,165.41 units and the selective S&P 500 also lost 0.38% to 4,176.88 points.

For its part, the composite index of the Nasdaq market, in which the main technology companies are listed, fell 0.37% to 12,673.31 integers.

Yesterday, the President of the United States, Joe Biden, and the Speaker of the House of Representatives, the Republican kevin mccarthyheld a “productive” meeting to try to raise the debt ceiling, but still without reaching an agreement.

“I think the tone tonight was better than any time before. (…) I feel that it was productive”, said the conservative upon leaving the White House.

Even so, McCarthy criticized that each proposal from the Democrats involves increasing public spending, and assured that the United States “He has a spending problem.”

All in all, the conservative advanced that he will probably hold talks with Biden every day until the debt problem is resolved.

Treasury Secretary Janet Yellen warned yesterday that the United States could default on its debt on June 1 if no deal is reached.

Various economic data will be announced this week: a second reading of first quarter GDP will be published on Thursday and the personal consumption expenditure indicator will be announced on Friday.

Likewise, on Wednesday the minutes of the US Federal Reserve (Fed) from the last meeting in May and these documents could shed light on how the central bank is considering further rate hikes.

By sectors, the red color dominated on Wall Street, with the greatest losses being for basic materials (-1.13%) and industry (-0.88%); only energy registered gains (0.85%).

Among the 30 Dow Jones stocks, the companies with the biggest losses were Visa (-1.65%), United Health (-1.33%) and Apple (-0.85%), while the gains were posted on all Chevron (2.66%) and Amgen (0.64%).