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Wall Street opens in red and the Dow Jones falls 0.19%

Wall Street opens in red and the Dow Jones falls 0.19%

Wall Street opens in red and the Dow Jones falls 0.19%

Wall Street opened this Monday in red and the Dow Jones Industrial Average, its main indicator, fell 0.19% at the beginning of the Cyber ​​Monday session, the biggest day of online sales in the US.

Half an hour after the opening on the New York Stock Exchange, the Dow Jones stood at 35,362 points, and the selective S&P 500 fell 0.24%, to 4,557 points.

For its part, the Nasdaq market composite index, in which large technology companies are listed, fell 0.24%, up to 15,983 points.

According to CNBC, the interest rate increases by the Federal Reserve (Fed) are beginning to “weigh” on the economy and could bring declines in today’s and Christmas sales.

Torsten Slok, chief economist at Apollo Global Management, said this Sunday in a note collected by CNBC that “When the Federal Reserve raises interest rates, it becomes more difficult for consumers to borrow.”

Today, the markets are awaiting Christmas shopping on the Internet after the black “Black Friday”, when online sales stood at 9.8 billion dollars, which was 7.5% more than the previous year.

Not everyone agrees that consumption figures are going to suffer: the Adobe Analytics company predicts a record of about 12 billion dollars in online purchases during Cyber ​​Monday, which would represent an increase of 6% compared to last year.

For its part, the forecasts of the National Retail Federation, which cover until the end of December, show a more moderate growth in sales compared to previous years, of 3 to 4%.

By sectors, almost all of them opened in red, with the most affected being energy (-1.08%), industrial (-0.67%) and material goods (-0.63%); the only one that opened positively was communication, which rose 0.02%

Among the 30 Dow Jones values, the losses of Walt Disney (-1.52%), and Chevron (-0.94%), and the increases of Walmart (0.32%) and Salesforce (0.27%) stood out. .

Source: Elcomercio

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