Wall Street opens in red and the Dow Jones falls 0.33%

Wall Street opened this Thursday in red and the Dow Jones Industrials, its main indicator, lost 0.33%, continuing the negative streak of recent days.

Ten minutes after the start of trading on the New York Stock Exchange, the Dow Jones it fell to 33,838.42 units and the selective S&P 500 subtracted 0.28%, to 4,353.54 points.

For its part, the composite index of the Nasdaq market, in which the main technology companies are listed, lost 0.22% at this time, up to 13,472.45 integers.

Yesterday, the three indices closed in the red after the president of the United States Federal Reserve (Fed), Jerome Powellwill point to the possibility that interest rates continue to rise in the coming months, after the pause this month.

The Fed specified that it will continue to make its decisions “meeting by meeting”, based on “the totality of the incoming data and its implications for the outlook for economic activity and inflation, as well as the balance of risks”.

For Powell inflationary pressures “they are still high” and the process of getting inflation back down to 2% is left to him “a long way to go”.

All this despite the fact that the year-on-year rate of inflation fell considerably in May, nine tenths, to stand at 4%, its lowest level since March 2021. It was the second most pronounced drop in the consumer price index since it began to down eleven months ago.

The next meeting of the fed it will take place on July 25 and 26 and before the end of the year the members of the committee will hold another three meetings in September, October and December.

Investors are also looking today at Powell’s semiannual appearance before the Senate finance committee.

By sectors, the greatest losses were for energy and raw materials, which lost 1.36% and 0.98%, respectively, while only non-essential goods (0.28%) and health (0.26%).

Among the 30 Dow Jones stocks, the companies with the biggest losses were Boeing (-3.2%) and Dow (-2.27%), while the biggest gains were for Merck (1.15%) and UnitedHealth (0. 62%).