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Wall Street closes in green after a joint push from semiconductor companies

Wall Street closes in green after a joint push from semiconductor companies

Wall Street closes in green after a joint push from semiconductor companies

Wall Street closed in the green on Wednesday after a session in which major semiconductor companies – led by Nvidia – added to profits and boosted the three main New York indexes.

At the end of the day in the NYSE (NYSE), he Dow Jones rose 1.09% (to 39,721 points), the S&P 500 set a new record by breaking the 5,600-point barrier (5,633 specifically, an advance of 1.02%) and the technological Nasdaq advanced 1.18%, to 18,647 units.

Chip companies were the biggest gainers in this session, which saw Taiwan Semiconductor Manufacturing (3.54%) rise. Nvidia (2.69%), Qualcomm (0.81%), Broadcom (0.66%). Alphabet also added 1.16%.

These moves come a day after Federal Reserve (Fed) Chairman Jerome Powell yesterday expressed optimism about “modest progress” in easing interest rates in the near future in his goal of keeping the US inflation rate close to 2%.

In May, the last known data, the inflation fell by one-tenth to 3.3%, and the June statistics will be released this week. Bets on the first rate cut are concentrated in September, according to the CME FedWatch tool.

Second-quarter results from three major US banks – JPMorgan Chase, Wells Fargo and Citigroup – are also expected on Friday, and will serve as a barometer for consumers along with other well-known firms.

By sector, there were gains, with the technology sector (1.63%), raw materials (1.34%), healthcare (0.98%) and public services (0.95%) standing out. Among the 30 listed companies in the Dow JonesOnly Visa (-0.92%) and Disney (-0.08%) fell, while the biggest boost was recorded by Home Depot (2.1%), as well as Travelers Companies and 3M, with 1.99% respectively.

Likewise, assets of the streaming service Spotify fell by 2.11% after the rating firm Redburn today lowered the platform’s growth expectations in a year in which it has already accumulated an advance of approximately 65%.

Elsewhere, Texas crude rose to $82.10, 10-year bonds fell 4.281%, gold rose to $2,378 an ounce and the euro traded at $1.0829.

Source: Elcomercio

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