Wall Street trades mixed as tech sector advances
The New York Stock Exchange traded mixed today at the beginning of the session, with technology stocks rising, after the extraordinary results of the microprocessor manufacturer Nvidia.
![Wall Street trades mixed as tech sector advances](https://media-manager.noticiasaominuto.com/960/naom_6197c76a0d72c.jpg)
© Shutterstock
![Notícias ao Minuto](https://cdn.noticiasaominuto.com/img/equipa/pessoa/lusa.png)
Economia Mercado
Around 3:00 p.m. (Lisbon time), the Dow Jones index fell 0.58% to 39,439.74 points, but the Nasdaq, dominated by the technology sector, rose 0.39% to 16,866.79 points.
The broad S&P 500 index rose 0.33% to 5,324.32 points.
In the previous session, the New York Stock Exchange closed lower, after the publication of the minutes of the last meeting of the Federal Reserve (Fed).
At that meeting, which ended on the 1st, Fed officials expressed concern about the recent rise in inflation, stressed that rates will fall later than expected and some even said they were willing to raise them, if necessary.
At the start of the session, Nvidia rose 9.28%, after presenting quarterly results that exceeded analysts' expectations after the market closed, based on semiconductor production, which made the Santa Clara group a symbol of the development of artificial intelligence (AI).
Its quarterly profit went from 2.04 billion dollars, registered in the first quarter of last year, to 14.88 billion dollars (13.74 billion euros), while its revenue increased from 7.19 billion dollars to 26.04 billion.
A few seconds after the market opened, the company surpassed the symbolic barrier of 2.5 trillion dollars in market capitalization.
"Nvidia is the new queen of Wall Street," said analyst Adam Sarhan of 50 Park Investments "and we find a market that is essentially driven by AI values," he added, quoted by AFP.
The Ralph Lauren group also rose (2.58%) benefiting from better-than-expected results, despite forecasts considered disappointing.
In the bond market, the yield on 10-year US Treasury bonds remained unchanged at 4.42%.
Read Also: Wall Street closes down to make gains after a series of records (Portuguese version)
Descarregue a nossa App gratuita.
Oitavo ano consecutivo Escolha do Consumidor para Imprensa Online e eleito o produto do ano 2024.
* Estudo da e Netsonda, nov. e dez. 2023 produtodoano- pt.com