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Wall Street opens in green and the Dow Jones rises 0.17%

Wall Street opens in green and the Dow Jones rises 0.17%

Wall Street opens in green and the Dow Jones rises 0.17%

Wall Street opened this Monday in green and the Dow Jones Industrial Average, its main indicator, rose 0.17%, continuing its streak of gains after last week’s Federal Reserve meeting, in which the central bank decided to maintain stable interest rates.

Ten minutes after the trading floor opened, the Dow Jones stood at 37,366 points, and the selective S&P 500 rose 0.31%, up to 4,733 points.

For its part, the Nasdaq composite market index, in which large technology companies are listed, rose 0.18%, up to 14,840 points.

Last week, the three indexes achieved their seventh consecutive week of gains, driven by the cooling of the inflation rate and by signals issued by their own managers that the Fed could raise the official interest rate up to three times in 2024.

“Slowing inflation, low growth expectations and intact growth momentum are a great combination from a market perspective,” said HSBC chief multi-asset strategist Max Kettner in a note reported by CNBC.

However, the analyst told the network that short-term growth and profit expectations in the United States remain weak, and he was “distrustful” of the market’s positive momentum: “It may be prudent to start 2024 with more caution.” , he added.

By sector, gains predominated, led by the energy sector (1.82%) and the communication sector (0.95%), while the only sector with losses was the technology sector, which fell 0.3%.

Among the 30 Dow Jones stocks, the biggest increases were for Chevron (1.5%) and Merck (1.18%) and the losses of Intel (-1.3%) and Boeing (-1.17%) stood out. .

Source: Elcomercio

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