Wall Street closed in green this Wednesday. Its main indicator, the Dow Jones of Industrials, rose by a slight 0.03% as fears of the increase in inflation in the United States eased.
At the close of the New York Stock Exchange session, the Dow Jones added 10.59 points to 34,323.05. At the same time, the selective S&P 500 rose 0.19% or 7.86 points to 4,195.99.
The Nasdaq composite index, in which the leading technology companies are listed, advanced moderately, by 0.59% or 80.82 points, to 13,738.00.
By sectors, the highest gains were for energy companies with a rise of 0.93%. They were followed by non-essential goods with a profit of 0.9% and communications, which added 0.58%.
The most affected was the health sector, with a loss of 0.56%. Meanwhile, the technology remained flat.
The New York stock market is going through a week with less trading volume than usual for a long weekend. Monday is the Memorial Day holiday, and the market will remain closed.
Investors’ fear of inflation has relieved
After a hesitant start to the day, investors bet on firms that may benefit from the economic recovery, such as cruise ship chains and retail stores.
According to experts, the fear of inflation in the US appears to have subsided. It resulted from the insistence of the Federal Reserve to maintain its monetary policy, which is encouraging equity purchases.
In addition, there is another factor that influences the market. The United States has made good progress in the epidemiological situation as vaccination advances in its population.
Among the 30 listed on the Dow Jones, which turned 125 today, the advances of Nike (1.91%), Salesforce (0.87%), Goldman Sachs (0.79%), and Dow Inc (0.77%) stood out.
The most notable losses were for Walgreens yielding 4.02%, and Amgen dropping by 1.43%.
Outside of that group, Amazon advanced by 0.19% after announcing the purchase of the MGM movie studio.
Exxon Mobil raised by 1.17% after its shareholders gave two seats on the board of directors to an activist investment fund.
On the other hand, Ford soared by 8.51% after raising its investment in electric vehicles to $30 billion.
In other markets, Texas oil rose to $66.21 a barrel, and at the close of Wall Street, the yield on the 10-year Treasury bond amounted to 1.579%. Gold fell to 1,896.30 dollars an ounce, and the dollar gained ground against the euro, with a change of 1.2195.