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Wall Street closes in green and the Dow Jones rises 0.25%

Wall Street closed this Monday in green and its main indicator, the Dow Jones Industrial Average, rose 0.25%, with investors betting on purchases after the losses of the previous week.

At the end of operations on the New York Stock Exchange, the Dow Jones rose to 34,663.7 points while the selective S&P 500 increased 0.67%, up to 4,487.5 points.

The Nasdaq composite market index, which groups together technology companies, rose a notable 1.14%, up to 13,917.9 units.

The market was encouraged by a possible consensus among members of the Federal Reserve (Fed) not to raise interest rates at next week’s monetary policy meeting, according to what The Wall Street Journal reports today.

Among the news that influenced the day, the investment firm Morgan Stanley improved the outlook for Tesla and raised the price target for its shares, which caused the automobile company to soar 10% this Monday.

Qualcomm, the largest supplier of mobile phone chips, also rose 3.9% after announcing that it will supply the giant Apple with modems with 5G technology for its new iPhone models until 2026.

Meanwhile, Apple rose 0.66% ahead of its annual event tomorrow, where according to the specialized press it will present the new version of its flagship phone, which will probably be called iPhone 15.

Most sectors ended with gains, and the most notable were those of non-essential goods companies (2.77%) and communications (1.17%), compared to the losses in the energy sector (-1. 31%).

Among the 30 Dow Jones companies, the biggest gains were for 3M (1.55%), Intel (1.53%), and Verizon (1.46%), and the biggest declines were for Walgreens (-2.55%). and Chevron (-2.06%).

In other markets, Texas oil fell to $87.29 per barrel, and at the close of the stock market the 10-year bond fell to 4.292%, gold rose to $1,945.4 per ounce and the dollar lost ground against the euro, with an exchange rate of 1.075.

Source: Elcomercio

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