The US stock market has turned around after a bearish opening. Advances are the dominant trend on Wall Street, in which its technology index (the Nasdaq 100) has left the declines behind after six consecutive sessions down. At the end, it has advanced by 0.8% after a session opening in which it was close to 1.5% at a beginning of the day marked by the rise in the profitability of US debt. However, it performs worse than industrial companies as the Dow Jones is up 1.35%.
Like Tuesday Wall Street started the day with declines as a result of the rise in government bonds, which are driving investors away from riskier bets, which have set the pace of the market in recent months. The yield of the ten-year Treasury bond today stood above 1.42%, its highest level since February 2020, thanks to the prospects for economic recovery and the possible increase in inflation.
On Tuesday, the New York stock market rebounded in the second half of the day after an appearance by the president of the Federal Reserve, Jerome Powell, who assured that the coronavirus pandemic has left a “significant footprint” on inflation in the US and the recovery is still incomplete, so the economy will continue to need extraordinary monetary support for a time.
This Wednesday, however, there was also a certain upward turn although the communication and technology services sectors are the least advanced, with increases of a couple of tenths, while the largest increases were for energy companies, financial companies and raw materials companies. Among the thirty values of the Dow Jones, the falls of Home Depot (2.7%), Walmart (1.6%) or Apple (0.4%) have stood out, while Tesla has shot up 6% after recent losses.
Juan José Fernández-Figares, Director of Analysis of Link Securities, has indicated in reference to the falls of the American stock market that “Powell downplayed the expectations that the market manages of a rebound in the coming months, saying that this variable continues weak and far from the long-term target of 2% set by the central bank. He did not mention the recent spike in long interest rates and therefore did not talk about how the Fed intends to deal with this risk. ”
Source: LA INFORMACIÓN – Lo último by www.lainformacion.com.
*The article has been translated based on the content of LA INFORMACIÓN – Lo último by www.lainformacion.com. If there is any problem regarding the content, copyright, please leave a report below the article. We will try to process as quickly as possible to protect the rights of the author. Thank you very much!
*We just want readers to access information more quickly and easily with other multilingual content, instead of information only available in a certain language.
*We always respect the copyright of the content of the author and always include the original link of the source article.If the author disagrees, just leave the report below the article, the article will be edited or deleted at the request of the author. Thanks very much! Best regards!