Wall Street opens in green and the Dow Jones rises 0.30%

Wall Street opened this Monday in green and the Dow Jones Industrial Average, its main indicator, rose 0.30%, with technology stocks leading the gains.

Eleven minutes after the trading floor opened, the Dow Jones stood at 38,829 points, and the selective S&P 500 rose 0.97%, up to 5,166 points.

The composite index of the Nasdaq market, where the main technology companies are listed, dominated the gains of the indicators and rose 1.56%, to 16,221 units, driven by the increases of Alphabet, Google’s parent company, and Apple.

This morning, the Bloomberg agency published that Alphabet is negotiating with Google to integrate the Gemini artificial intelligence engine into the iPhone; The news shot up the technology company’s shares by more than 7% in early stock market operations.

The goal is to make it possible for Apple to license Gemini, Google’s generative AI model, to power some new features coming to this year’s iPhone software. For its part, Apple rose 2%.

Chipmaker Nvidia’s stock futures also rose more than 4% ahead of its Developer Conference, where the company is expected to show off its latest advances in artificial intelligence.

On the other hand, investors are awaiting the monetary policy meeting of the Federal Reserve (Fed) that begins tomorrow, Tuesday, and from which new clues are expected about the direction of interest rates.

“Rate cuts sooner rather than later are very positive for markets as they reduce the possibility of a slowdown (in the economy),” notes analyst Tom Essaye in his report The Sevens Report.

By sector, the largest increases were for the communication sector (3.18%) and technology (1.81%), while the only losses were for the public services sector (-0.2%) and energy ( -0.05%).

Among the 30 Dow Jones stocks, the gains of Apple (2.22%) and Salesforce (1.45%) stood out, and the losses of Boeing (-2.32%) and Nike (-1.06%).