Wall Street closed this Tuesday with losses and the Dow Jones, its main indicator, fell 0.72%, thus breaking part of the momentum achieved last week. At the end of operations in NY, the Dow Jones stood at 34,054 pointswhile the selective S&P 500 fell 0.47%, to 4,388 units.
(See: Wall Street closes in the green, bets on a pause in rate hikes)
He Nasdaq index, in which most of the technology companies are listed, fell 0.16% and closed at 13,667 points. Yesterday was the start of the week in the Big Apple stock market, since Monday was Juneteenth, a US holiday.
Main Wall Street indicators closed last week with cumulative gains – the S&P 500 and the Nasdaq posted their best weekly performance since March – after the Federal Reserve (Fed) decided not to raise interest rates this month, a pause that was greeted with optimism by investors.
Investors’ eyes are back on the issuer this week, as Fed Chairman Jerome Powell will speak before Congress tomorrow.
(See: Wall Street ended in green pushed by the technology sector)
Besides, China announced an interest rate cut to try to stimulate the national economywhich shows signs of slowing down in its recovery process after the pandemic.
By sectors, the only gain was for non-essential goods, which rose 0.75%. Meanwhile, the biggest losses were for energy and raw materials, which remained 2.29% and 1.26%, respectively.
Among the 30 stocks of the Dow Jones the companies with the biggest losses were Intel (-3.7%) and Nike (-3.5%)while the biggest gains were for Salesforce (2.4%) and UnitedHeath (2.4%).
(See: Manufacturer Nvidia joins the billion dollar club)