The US economy contracted in the first quarter, easing concerns about the Fed’s aggressive interest rate hikes and the persistence of the inflation
FILE PHOTO: A street sign is seen in front of the New York Stock Exchange on Wall Street in New York, February 10, 2009. REUTERS/Eric Thayer/File Photo
Wall Street closed Thursday with gains and the Dow Jones Industrials, its main indicator, rose 1.61% encouraged by the minutes of the US Federal Reserve and the good results of some retailers.
At the close of trading on the New York Stock Exchange, the Dow Jones added 516.91 points, to 32,637.19, while the selective S&P 500 advanced 1.99% or 79, 11 integers, up to 4,057.84.
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For its part, the Nasdaq composite market index, which brings together the main technology companies, advanced by a remarkable 2.68% or 305.91 units, up to 11,740.65.
The New York stock market clearly opted for purchases after the The Fed’s minutes came no surprise, putting aside concerns about its measures to control inflation and the global impact of the war in Ukraine.
The central bank anticipated another two increases for the coming monthsof half a point in interest rates like the one decreed in May and reflected the nervousness within it to advance faster in the fight against inflation.
Among the economic data of the day, investors stayed with the good quarterly results of the retailers Williams–Sonoma (13%), Dollar Tree < /b>(22%) and Macy’s, which rose 19% after improving its business prospects for this year.
According to analysts, after the disappointing figures of recent days, including those of Target, Walmart and Snapchat, these companies have given reasons to market to be more optimistic about consumer confidence in the US.
By sectors, advances were led by non-essential goods companies (4.78%), technology ( 2.45%), finances (2.25%) and communications (2.06%), and real estate fell only slightly (-0.1%).
Among the thirty stocks of the Dow Jones, green predominated, with notable gains from Boeing (4.65%), Nike (4.41%), Home Depot (3.25%), Intel (3.03%) and American Express (3%).
In other markets, Texas oil rose to 114.09 dollars a barrel, and at the end of the session, the yield on the US Treasury bond rose to 10 years rose to 2.751%, gold rose to 1,849.70 dollars per ounce and the dollar lost ground against the euro , with a change of 1.0727.
(With information from EFE)