The Dow Jones index closed the last session of the week at 0.69% to settle at 34,433.84 0 points.
The Standard & Poor’s 500 Index rose 0.33% to 4,280,707 points, which is a record closing price. In daily trading, it reached an all-time high, at 4,286.12 points, mainly due to renewed confidence in the country’s economic recovery and in budget stimulus.
In contrast, the Nasdaq Technology Index gave 0.06% to 14,360.39 points after it reached during the session around its record (which was recorded yesterday at 14,414.46 points).
The index ended up falling into negative territory in the final leg of the journey, under pressure from heavyweights such as Microsoft, Facebook, Alphabet, Amazon and Apple.
Even in the S&P 500, the IT category was the only red-lighted category. But the strength of the remaining ten segments gave the index an impetus.
Nike’s forecast has already contributed to the Dow’s rise in strong results this year as a whole. The sports equipment company ended up rising 15.50% to $154.35 and reaching $154.58 – an all-time high.
The generally bullish movement on Wall Street was also helped by data on the inflation gauge – which, although rising, was less than expected, easing concerns that the Federal Reserve will tighten monetary policy in the short term.
The US Bureau of Economic Analysis announced today, that the inflation index, the so-called personal consumption price index, rose 3.9 in May at an annual pace. This is the highest level since August 2008 and surpassed the 3.6% level recorded in April.
However, it did not live up to estimates, which indicated 4.2%, which softened the players in the market.
Core PCE inflation (which excludes more volatile components such as food and energy) reached 3.4% in May – the highest level since April 1992.
Helping investors’ optimism, especially encouraging Dow Jones industrial listed companies, was the fact that President Joe Biden agreed yesterday with Infrastructure investment plan It was introduced by a group of Democrats and Republicans in the Senate, to the delight of investors.
The plan foresees a $953 billion package for the infrastructure plan, of which $559 billion will be allocated to new developments. It was far from the 2.3 billion initially proposed by Biden, but still enough to encourage market players – it remains to be seen if this will be the final amount that will be approved in Congress.
After announcing that the US economy grew at an annualized pace of 6.4% in the first quarter, thanks to massive fiscal stimuli, investors have been waiting for this deal between Biden and the bipartisan Senate group responsible for the infrastructure program.
Stocks were among the best performers today, with the sector up more than 1%, after the Federal Reserve yesterday announced a positive rating for major banks assessed in stress tests – allowing the lifting of pandemic-imposed restrictions that were subject to a profit freeze and the impossibility of reinstatement. buy their shares.