Complete News World

Wall Street ended the day with slight gains after the worst week of the year

Wall Street ended the day with slight gains after the worst week of the year

Wall Street ended the session with a slight gain, fueled by some investors looking for cheaper stocks, a move known in English as “buying the dip”.

This movement comes after the three major indices in North America ended the session on Friday, recording the worst week this year, with trading affected by the expectation of the path that the US Federal Reserve will follow regarding currency policy.

The Dow Jones Industrial Average increased by 0.22% 32889.09 points, while the S&P 500 rose by 0.31% 3,982.24 points. The Nasdaq Technology Index rose 0.63% to 11,466.98 points. Investors have been reacting to the latest macro data, especially in terms of industry. Durable goods orders fell, posting the largest decline since April 2020. However, when excluding transportation equipment, durable goods orders rose more than expected.

The day also helped absorb the latest comments from Philip Jefferson, a member of the Federal Reserve Board, who stressed that it was necessary to maintain a tight monetary policy to combat inflation.

In the derivatives market, especially futures, investors note that the federal funds rate peaked at 5.4% in September.

Investors are watching Seagen shares, which rose 10.40% on news that Pfizer is in talks with the drugmaker for a cancer treatment study. Pfizer shares fell 2.32%.

On the other hand, the share of the North American railway company Union Pacific rose by 9.36%, after announcing that its leader, Lance Fritz, would leave the position, after the “hedge fund” Soroban Capital Partners requested his departure.