Wall Street closes in the green and the Dow Jones rises 1%

Wall Street closed this Friday in the green and its main indicator, the Dow Jones, rose 1% encouraged by the prospect that an agreement will soon be reached between the White House and the Republicans in Congress to raise the debt ceiling in the US.

At the close of operations, the Dow Jones stood at 33,093.34 units. The selective S&P 500 and the Nasdaq gained more, respectively 1.30%, up to 4,205.45 points, and 2.19%, up to 12,975.69 points.

Wall Street remains attentive to what is happening in Washington for fear that the Government may run out of funds to pay its debts on June 1, but this Friday the balance turned towards optimism given the supposed proximity of an agreement between the negotiating parties. .

However, there is still no official announcement about progress in the talks and next Monday is the Memorial Day holiday, with which the legislators went into recess this Friday until Tuesday, unless they are called to vote after a possible deal.

The stock will also be closed on Monday

On the other hand, the technology sector continued its good progress on this day, albeit moderately, after Nvidia shot up 24% on Thursday due to its good business prospects with the development of artificial intelligence. This Friday that company rose more than 2%.

The technology sector rose 2.68%, followed by non-essential goods (2.38%) and communications (-1.71%), and the most affected was energy (-0.37%).

Regarding the macroeconomic data, the market analyzed the personal consumption spending index for April, closely followed by the Federal Reserve, and which indicates that inflation increased above expectations, 0.4% compared to the previous month. and 4.7% year-on-year.

Among the 30 Dow Jones values, the rebound of Intel (5.84%) stood out, followed by the rises of American Express (4.12%), Salesforce (2.63%) and Goldman Sachs (2.53%) , with the largest loss for MSD (-1.10%).

In other markets, Texas oil closed at US$72.78 a barrel, and at the end of the trading session the yield on the 10-year US bond fell to 3.81%, gold rose to US$1,946.90 a ounce, and the dollar lost ground against the euro, with a change of 1.073.