Wall Street closes the day with Dow Jones down and S%P up

Wall Street closed this Wednesday in mixed territory and the Dow Jones of Industrialits main indicator, fell a 0.18% as investors pored over a second day of Senate testimony from the president of the Federal Reserve (Fed), Jerome Powell.

At the close of operations on the New York Stock Exchange, the Dow Jones lost 58.06 points, up to 33,798.40 units, while the selective S&P 500 added 0.14% or 5.64 integers, up to 3,992.01 points.

(US private sector created 242,000 jobs in February)

The Market Composite Index nasdaqwhich brings together the big technology companies, it gained 0.40%, or 45.67 units, to 11,576 integers. Stocks fell Tuesday as Powell said the Fed is prepared to pick up the pace of interest rate hikes if inflation and the job market don’t cool.

In his second session of testimony today, Powell said the central bank was keeping its options open on future rate hikes and that upcoming economic data would influence the decision to be made at the March 21-22 Fed meeting.

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Investors are now eagerly awaiting the jobs report, due out this Friday, seeking more insight into the health of the job market. In debt markets, shorter-term Treasury yields were poised to set new multi-year highs as investors braced for higher rates from the Fed.

The two-year yield rose to 5.064% after settling at 5.011% Tuesdayits highest closing level since June 2007. Bond yields rise as prices fall.

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The yield on the benchmark 10-year Treasury note reversed previous declines and stood at 3.979%, up from 3.974% on Tuesday. The sectors that ended the day with the highest gains were real estate (1.32%) and technology (0.84%), while the largest decreases were for energy (-1.02%) and healthcare (-0 .56%).

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Among the 30 Dow Jones stocks, the companies most affected were MSD (-2.69%) and Travelers (-1.44%), while the biggest gainers were Intel (3.95%) and Caterpillar (1.85%). In other markets, Texas oil closed at $76.66 and at the end of the trading session gold fell to $1,818 an ounce, the profitability of the 10-year US bond rose to 3.979% and the dollar gained ground against the euro, with a change of 1.0545.

EFE