Home Economy Filled with the historic highs of Wall Street. The Dow Jones is on the verge of 40,000 points – the Stock Exchange

Filled with the historic highs of Wall Street. The Dow Jones is on the verge of 40,000 points – the Stock Exchange

0
Filled with the historic highs of Wall Street.  The Dow Jones is on the verge of 40,000 points – the Stock Exchange

Filled with the historic highs of Wall Street. Dow Jones is on the verge of 40 thousand points

All three major indexes rose on Wednesday on lower-than-expected inflation in the United States, fueling expectations that the Federal Reserve may cut interest rates later this year.

Wall Street's major indexes closed higher on Wednesday, with the S&P 500 Global Index, Nasdaq Composite Index and Dow Jones Industrial Average hitting historic intraday highs of 5,311.76 points, 16,749.74 points, and 39,935 points, respectively.

The benchmark S&P 500 index added 1.17% to 5,308.15 points, and the tech-heavy Nasdaq index jumped 1.41% to 16,744.28 points, both still reaching closing highs. The Dow Jones Industrial Average gained 0.88% to 39,908 points, also at the highest closing value ever and approaching the threshold of 40,000 points.

All three indicators were boosted by US inflation numbers for April, which were lower than analysts expected, fueling expectations that the Federal Reserve may cut interest rates later this year. Traders are evaluating the possibility of the first drop in September and the second in December.

The consumer price index rose 0.3% in April, compared to expectations for a 0.4% increase expected by economists interviewed by Reuters. Core inflation rose 0.3% in April, after rising 0.4%.

Investors also focused their attention on US retail sales data, which remained unchanged in April, after rising 0.7% in March.

Among the key market movers were stocks more sensitive to monetary policy, such as Nvidia, which rose 3.58% to $946.30. It is still among the heavyweight stocks, Microsoft added 1.75% and Apple rose 1.22%.

See also  Thousands of Citroën, DS and Peugeot cars are at risk of fire

GameStop is on a correction path and lost 19.94% to $39.55. After existence It rose by 60.1% in Tuesday’s sessionAmid speculation surrounding the return of Keith Gill, who is considered one of those responsible for “meme stocks,” in 2021.

LEAVE A REPLY

Please enter your comment!
Please enter your name here