Wall Street recovers timidly and the Dow Jones rises 0.15%

Wall Street recovers timidly and the Dow Jones rises 0.15%

New York, Sep 14 (EFE).- Wall Street opened this Wednesday with timid increases and its main indicator, the Dow Jones Industrial Average, added 0.15%, slightly tracing the sharp falls suffered yesterday by its main indicators after learning that the year-on-year rate of inflation in August in the United States moderated its rise, but less than expected.

Ten minutes after the session began on the New York Stock Exchange, the Dow Jones lost 48.03 points to 31,153 while the selective S&P 500 also rose a slight 0.15% or 5.86 units to 3,938.55 – yesterday this benchmark index suffered its worst day since June 2020-.

For its part, the composite index of the Nasdaq market, which brings together the main technology companies, rose almost 0.004 or 0.55 integers, to 11,634.11.

This advance indicates that the markets could stabilize this Wednesday.

Inflation in the United States fell again in August, for the second consecutive month, and placed its year-on-year rate at 8.3%, two tenths less than in July, according to data published yesterday by the Bureau of Labor Statistics (BLS).

However, compared to the previous month, consumer prices rose one tenth, after having remained stable in July, despite the 10.6% drop in gasoline prices.

The latest inflation data from the US dampened investors’ hopes that the Federal Reserve could reduce its aggressive pace of raising interest rates.

Some experts are now even forecasting that the Federal Reserve (Fed) may raise its interest rate by 1 percentage point at its next meeting.

For its part, it was announced today that the producer price index, which measures what suppliers charge companies and other customers, decreased by 0.1% compared to the previous month. Data that relieves the pressure in the bag.

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By sectors, the gains in energy (2.25%) stood out this morning, followed by financials (0.39%), while losses in raw materials (-0.94%) and real estate (-0.92) stood out. %).

Regarding the 30 Dow Jones listed companies, the greatest decreases were for Dow (-1.55%) and Boeing (-1.43%), while the gains of Chevron (2.88%) and Johnson stood out. & Johnson (2.55%).

Elsewhere, Texas oil rose to $88.62 a barrel, the 10-year US Treasury yield rose to 3.433%, gold lost value to $1,713.50 an ounce, and the dollar lost ground against to the euro, with an exchange rate of 0.9989.

(c) EFE Agency

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