Wall Street celebrates but it’s in Times Square that the champagne is opened – Bolsa

0 20

Wall Street and Times Square threw the party ahead of schedule. In the penultimate session of the year, the three main North American indices ended the day in the green.

On Wall Street, the “benchmark” in the world Standard & Poor’s 500 (S&P 500) added 1.75% to 3,849.28 points, while l Dow Jones industrial rose 1.05% to 33,220.80 points. In Times Square, the Nasdaq registered a more expressive gain, growing 2.59% to 10,478.09 points.

Investors were motivated by the number of claims for unemployment benefits for the last week, which may indicate that the Federal Reserve of the United States (Fed) may continue to reduce the pace of the increase in -reference interest rate. In the week ended December 24, the United States saw a rise of more than 9,000 jobless claims to a total of 225,000, in line with the expectations of economists polled by Reuters. Growth stocks – more sensitive to changes in monetary policy -, in particular technology and media companies, led the gains.

Alphabet grew 2.82%, Amazon appreciated 2.88% and Microsoft grew 2.76%. For its part, Tesla rose by 8.08%, on the same day its CEO, Elon Musk, appealed to the company’s workers not to “be swept away by the madness of the stock market”.

Apart from monetary policy, covid-19 once again dominated market sentiment. Investors are paying attention to the latest news that the United States will require airlines to test negative covid-19 for passengers arriving from China, after Beijing eased its policy of “covid zero”, despite the wave of new cases.

“We are in the middle of a small change”, considers Huw Roberts, responsible for the “research” department of Quant Insight based in London, in statements to Reuters.

For the specialist, “in the last two weeks, stocks were more sensitive to economic growth” than to new developments in the Fed’s monetary policy and to the “financial conditions” of the market.

Huw Roberts therefore believes that 2023 will be marked by the central question of whether the central bank led by Jerome Powell will be able to guarantee a “soft landing”.

Source: Journal de Negócios from www.jornaldenegocios.pt.

*The article was translated based on the content of Journal de Negócios from www.jornaldenegocios.pt. If there is any problem regarding the content, copyright, please leave a report under the article. We try to process as quickly as possible to protect copyright. 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 author’s content and always include the original link of the source article. If the author disagrees, leave the report under the article, the article will be edited or deleted at the request of the author. Thank you very much! Best regards!

Leave A Reply

Your email address will not be published.