Wall Street closes its best session of the year and erases weekly losses | The Economist

Wall Street stepped on the accelerator this Friday and sealed its best session of the year with important gains in its three indicators, which erased the losses accumulated in a week of strong volatility.

According to data at the end of the session on the New York Stock Exchange, the Dow Jones rose 1.65% or 564.69 points and stood at 34,725.47, while the selective S&P 500 advanced 2 .43% or 105.34 integers, up to 4,431.85.

The Nasdaq Composite Index, which brings together the most important technology companies, shot up a notable 3.13%, or 417.79 units, to 13,770.57.

In the accumulated calculation of the last five days, the Dow Jones rises 1.3%; the S&P 500 is up 0.8% and the Nasdaq is up 0.01%, although the latter remains in correction territory.

Despite everything, January, which ends Monday, is poised to be the worst month since early 2020.

The unexpected "rally" in the last hour of this Friday saved a week that looked negative on the New York stock market, and that analysts have compared to a roller coaster.

Investors have been concerned about the likely rise in interest rates by the Federal Reserve in March and the start of central bank balance sheet shrinking, which is expected soon.

How to Stitch Images Together Using Microsoft Image Composite Editor http://bit.ly/oSe85R

— wikiHow Rising Stars Wed Aug 03 02:46:19 +0000 2011

But the growth of the United States GDP in 2021 has also generated optimism, which confirms the economic recovery from the crisis caused by covid-19.

By sectors, the rise of technology companies (4.33%) led by Apple stood out, which shot up almost 7% after reporting unprecedented quarterly results and predicting an improvement in the supply chain.

Likewise, real estate companies (3.38%), communications (2.92%) and non-essential goods (2.3%), among others, have made gains, while energy companies have only slightly decreased (-0.6%).

In the Dow Jones group, Visa shot up 10.6% in reaction to better-than-expected accounts, and in addition to Apple, Salesforce (4.41%), Verizon (3.34%) and American Express (3%).

Among the most affected were Caterpillar (-5.19%) and Chevron (-3.52%), whose results have not convinced the market.

Texas oil closed today at $86.82 a barrel, and at the close of the session gold fell to $1,790.30 an ounce; the yield on the 10-year Treasury bond fell to 1.778% and the dollar weakened against the euro, with a change of 1.1145.