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Wall Street opens in green and the Dow Jones rises 0.18%

Wall Street opened this Thursday in green and the Dow Jones Industrials, its main indicator, added 0.18%, when investors analyze what the next steps of the United States Federal Reserve (Fed) could be.

Fifteen minutes after the start of operations on the New York Stock Exchange, the Dow Jones stood at 34,828 units and the selective S&P 500 added 0.17%, up to 4,411 points.

For its part, the composite index of the Nasdaq market, in which the main technology companies are listed, added a slight 0.02%, up to 13,477 integers.

Investors are concerned after central bank officials said in the Fed’s July meeting minutes released yesterday that additional tightening may be needed to reduce inflation.

“Most participants continued to see significant upside risks to inflation, which could require further tightening of monetary policy”affirm the minutes published yesterday.

The federal funds rate is currently in a range between 5.25% and 5.5%.

On the other hand, this Thursday the US announced that the weekly number of applications for unemployment benefits in the United States dropped last week to 229,000, that is, 11,000 less than the previous week.

In the week that ended on August 5, there were 1,716,000 people who received this benefit, 32,000 more than in the previous week.

By sectors, the greatest gains were for energy and raw materials, with 1.97% and 0.88%, respectively, while the greatest losses were for sanitary and non-essential goods, which fell one 0.24% and 0.01%, respectively.

Among the 30 Dow Jones stocks, the biggest losses were for Walgreens (-1.88%) and Intel (-1.77%), which yesterday announced that it is withdrawing from the Tower Semiconductor purchase agreement, while the biggest gains were for Cisco (1.28) and Chevron (2.38%).

Source: Elcomercio

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