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Wall Street closes on mixed ground and the Dow Jones falls 0.11%

Wall Street closed this Monday on mixed ground and the Dow Jones Industrials, its main indicator, fell 0.11% on another day marked by the rise in the yield of US public debt.

At the end of operations on the New York Stock Exchange, the Dow Jones fell to 34,463.7 points, while the selective S&P rose 0.69%, to 4,399.8 integers.

The Nasdaq market composite index, which groups technology companies, gained a notable 1.56%, up to 13,497.6 units.

The New York parquet started in the green, with investors buying shares at a cheaper price after the after losses in value accumulated last week, but the Dow Jones entered the red towards the end of the session.

The market nervously awaits the next meeting of central bankers in Jackson Hole (Wyoming, USA), where Federal Reserve Chairman Jerome Powell will speak on Friday.

Forecasts of further interest rate hikes by the Fed have put pressure on the debt market, and today yields on the 10-year Treasury hit 4.34%, its highest level since 2007.

However, the technology sector, which is usually affected by these movements, was the strongest today, perhaps anticipating the good results that Nvidia, one of the leaders in artificial intelligence, can publish on Wednesday.

Nvidia shot up 8.5% today – it has revalued 220% since the beginning of the year – and had a contagion effect on other large companies in the sector, such as Tesla, which rose more than 7%.

By sectors, technology stood out with a rise of 2.3%, followed by non-essential goods (1.1%) and communications (0.8%), while the biggest losses were for real estate (-0, 9%).

Among the 30 Dow Jones listed companies, the declines predominated, especially those of Johnson & Johnson (-2.98%) and Nike (-1.86%), compared to the gains of Salesforce (2.05%) and Microsoft (1 .7%).

In other markets, Texas oil fell to $80.72 a barrel, and at the close of the stock market gold rose to $1,923.7 an ounce and the dollar was losing ground against the euro, with a change of 1.089.

Source: Elcomercio

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