Wall Street closes on mixed ground amid fears of possible recession

wall street closed this Wednesday, April 5, in mixed terrain, and the Dow Jones Industrials, its main indicator, rose 0.24%, as fears of a possible recession resurface.

(Read: Inflation in OECD countries fell to 8.8% in February).

At the close of business, the Dow Jones rose to 33,482.72 units and the selective S&P 500 subtracted 0.25% to 4,090.38 points. For its part, the composite index of the Nasdaq market, in which the main technology companies are listed, fell 1.07% to 11,996.86 integers.

The latest economic data show that the US job market is weakening. Today, it was announced that employment in the private non-farm sector increased by 145,000 positions in March, down from an increase of 261,000 in February and below economists’ expectations.

The Labor Department already reported yesterday that job offers fell to the lowest level since 2021 in February, which indicates that the demand for workers is beginning to decline.

(See: Trump says that the accusations against him are to interfere with elections).

Marija Veitmane, head of equity research at State Street, said investors have diverted your attention of the bank turmoil of march and they have returned to the risk of a recession that could reduce consumer spending and corporate profits.

“This week, we realize that we are avoiding a banking crisis, but the economic fears are still there. We are moving from a financial crisis to a cyclical slowdown“Veitmane said in statements collected by The Wall Street Journal. Among the sectors that closed in green, the biggest gains were for real estate and health, with a rise of 2.57% and 1.73%, respectively, while The sectors with the greatest losses were non-essential goods and industry, with a drop of 2.04% and 1.3%, respectively.

Among the 30 Dow Jones stocks, the companies with the biggest losses were Nike (-2.26%) and Home Depot (-2.13%). The largest gains were for Johnson & Johnson (4.48%) and UnitedHealth (3.24%).

the aJohnson & Johnson shares rose after the company proposed one of the largest liability settlements for products in history, of 8,900 million dollars (about 8,123 million euros) to resolve the demands for the alleged presence of carcinogenic components in its talcum powder.

(Read: Opec announcement would increase competition for oil from A. Latina).

In other markets, Texas oil closed at $80.61 a barreland at the end of the trading session the profitability of the US 10-year bond fell to 3.309%, gold fell to 2,036 dollars an ounce, and the dollar gained ground against the euro, with a change of 1.0901.

EFE