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Monday, March 4, 2024

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Wall Street closes mixed and the Dow Jones down 0.05%

 New York, .- Wall Street closed this Thursday and the Industrial Dow Jones, its main indicator, fell by 0.05% after a weak day, marked by pessimistic forecasts on the next season of corporate results and the fear of cooling of the economy.

At the end of the session on the New York Stock Exchange, the Dow Jones traded down 14,11 points, reaching 26,143.05 units, while the selective S & P 500 was flat (0%), picking up just 0.11 integers , up to 2,888.32 points.

The composite index of the Nasdaq market, which brings together the main technological market, fell sharply, 0.21% or 16.88 whole, to 7,947.36 integers.

By sector, the majority closed in green, starting with the industrial sector (0.88%), the financial sector (0.56%) and the public utility companies (0.55%), while the most affected was the sanitary (-1.21%).

The New York parquet went through an irregular day: it opened with timid gains due to advances in the US-China trade negotiation, but it soon lost steam, and both the Dow and the S & P 500 ended practically the same as the previous session.
According to analysts, the pessimistic forecasts for the next season of results have influenced the market, which was reflected in declines in the bank in view of the publication, this Friday, of the accounts of JPMorgan Chase and Wells Fargo.

“Next week we will see its results disclosed to Goldman, Bank of America, Citi and Morgan Stanley, and the focus will be on net interest margins now that the Federal Reserve is aiming for a break in its rate policy,” he wrote in a statement. note the chief economist of the firm Gluskin Sheff, David Rosenberg.

This Wednesday the minutes of the last meeting of the Fed were known, which came to confirm that the central bank does not anticipate moving more interest rates in the US. “In the remainder of the year.”

Meanwhile, global economic growth continues to worry markets: the International Monetary Fund (IMF) reduced has reduced its forecasts for this year, saying that a slowdown could force world leaders to coordinate stimulus measures.

Among the 30 listed companies in the Dow Jones Industrials, UnitedHealth’s decline stood out (-4.31%), ahead of Walgreens (-1.96%), Dow (-1.47%), Merck (-1.21). %) and Pfizer (-1.08%).

On the other side of the table, the biggest gains were for Boeing (1.43%), Walmart (1.20%), Home Depot (1.03%) and Caterpillar (0.97%).
In other markets, Texas oil dropped to $ 63.58 a barrel and, at the close of Wall Street, gold rebounded to $ 1,295.40 an ounce, the yield on the 10-year Treasury note rose to 2.499% and the dollar gained ground against the euro, which changed to $ 1,1252. (EFEUSA)

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