Meteorologia

  • 08 SEPTEMBER 2024
Tempo
15º
MIN 15º MÁX 26º

Wall Street closes directionless but with new Nasdaq record

The New York Stock Exchange closed today without a clear direction, but with the technology sector leading its index, the Nasdaq, to record highs, while investors await information on price behavior.

Wall Street closes directionless but with new Nasdaq record
Notícias ao Minuto

22:38 - 28/05/24 por Lusa

Economia Bolsas

The final results of the session indicate that the Nasdaq appreciated by 0.59%, which allowed it to exceed the threshold of 17 thousand points for the first time, which also meant breaking the record set on Friday.

The selective Dow Jones Industrial Average fell by 0.55%, while the broad S&P50 held positive ground, with an anemic advance of 0.02%.

Dispersed stock indices "is the type of market that we risk seeing this week, until the publication, on Friday, of the PCE inflation index, which will be the great indicator of the week", said Peter Cardillo, from Spartan Capital.

The PCE index refers to the price of goods purchased by consumers in the USA and is the preferred one by the central bank [Federal Reserve (Fed)] to analyze the behavior of prices in the USA.

Analysts understand that it will set the tone for the next Fed monetary policy meeting, on June 12.

The forecasts are that the PCE, in April, will remain at 2.7% annually and 0.3% monthly.

While they wait, investors reacted with restraint to the unexpected improvement in consumer confidence in April.

The index that measures this variable was set at 201 points in May, according to the monthly survey by the Conference Board, after 97.5 in April and when analysts expected a drop to 96.

This may indicate sustained economic activity, thus not conducive to a reduction in inflation, or it may prolong the current monetary policy of high rates.

The Nasdaq once again owed its collective valuation to the semiconductor sector, in particular to Nvidia, which closed up 6.98%.

This specialist in chips for artificial intelligence (AI) benefited specifically from the enthusiasm generated by the announcement that Elon Musk's start-up, specialized in AI, had secured six billion dollars in new financing for its development in this booming sector.

Read Also: Nasdaq index exceeds 17,000 points for the first time (Portuguese version)

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