Wall Street closes in green, Dow Jones up 0.64

New York, June 23. Wall Street closed Thursday in green and the Dow Jones Industrials, its main indicator, rose 0.64% after a day marked by the second appearance of the chairman of the Federal Reserve, Jerome Powell, in the US Congress.

At the close of trading on the New York Stock Exchange, the Dow Jones added 194.23 points to 30,677.36, while the selective S&P 500 gained 0.95 % or 35.84 points to 3,795.73.

The Nasdaq composite index, where the main technological companies are listed, increased by a notable 1.62% or 179.11 units, to 11,232.19.

The New York stock market rebounded after the slight losses of the previous day, despite Powell’s warning to legislators that the interest rate hikes being implemented by the Fed to control inflation could generate an increase in unemployment.

The possibility of a recession seems increasingly clear to Wall Street and some banks have revised upwards the risks, although the largest of them, JPMorgan Chase, today disassociated itself by considering that the economy will recover in the second half of the year.

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According to analysts, investors today focused on weekly jobless claims, an indicator of the health of the U.S. labor market, which came in at 229,000, a historically low level.

By sectors, the decline of energy companies (-3.75 %) stood out after the gains achieved the day before, and were led by names such as Chevron (-4.88 %), ConocoPhillips (-5.56 %), DiamondBack Energy (-5.44 %) or Valero Energy (-7.6 %).

Texas oil fell 1.8% today, to 104.27 dollars a barrel, due to fears of the economic slowdown and its potential impact on energy demand.

The sectors that rose the most, on the other hand, were utilities (2.35%), health care (2.22%), real estate (2.01%) and essential goods (1.96%).

Among the 30 listed companies in the Dow Jones, the greatest progress was made by Salesforce (3.34 %), MSD (3.19 %), Nike (2.94 %), Procter & Gamble (2.74 %) and Verizon (2.56 %), while Caterpillar (-4.88 %) and Dow Inc (-2.45 %), among others, fell back.

In other markets, at the close of Wall Street the yield on the US 10-year bond fell to 3.089%, gold fell to 1,826.50 dollars per ounce and the dollar strengthened against the euro, with an exchange rate of 1.0519. EFE

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