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Wall Street closes in green and the Dow Jones rises 0.73% after Powell’s statements

Wall Street closed this Friday in the green and the Dow Jones Industrials, its main indicator, rose 0.73% after the declarations Federal Reserve Chairman Jerome Powell at the Jackson Hole (Wyoming) symposium.

At the end of operations on the New York Stock Exchange, the Dow Jones rose to 34,346.9 points, while the selective S&P 500 rose 0.67%, to 4,405.71 integers.

The Nasdaq composite market index, which groups technology companies, gained 0.94%, up to 13,590.65 units.

Powell said the US central bank will keep interest rates high until inflation comes down solidly, but he opened the door to a possible pause in the increases and expressed confidence in the growth of the country’s economy.

After the speech there was some volatility in the market and the main indices oscillated between gains and losses, but optimism finally prevailed.

All sectors closed in green, led by non-essential goods (1.1%), energy (1.07%), industrial (0.86%) and technology (0.82%).

Among the 30 Dow Jones listed companies, the most notable advances were for Boeing (2.81%), Intel (2.03%), Salesforce (1.93%) and Johnson & Johnson (1.43%).

In other markets, Texas oil rose to $79.83 a barrel and at the close of the stock market, the 10-year bond fell to 4.231%, gold fell to $1,941.9 an ounce and the dollar strengthened against the euro, with a change of 1.0795.

Source: Elcomercio

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