Home » today » Business » Wall Street in green while awaiting inflation data – 2024-02-29 08:15:30

Wall Street in green while awaiting inflation data – 2024-02-29 08:15:30

In this Oct. 7, 2016 photo, a statue of George Washington is seen on Wall Street in New York. The main US stock market indices closed with losses on Tuesday, October 11, 2017 (AP Photo/Mark Lennihan)

Wall Street opened this Monday in green and the Dow Jones Industrialsits main indicator, rose 0.23%, while investors have their eyes on new data from inflation which will be published at the end of this week.

Ten minutes after the trading floor opened, the Dow Jones stood at 39,221 points, and the selective S&P 500 rose 0.10%, up to 5,093 points.

The Nasdaq composite market index rose 0.11% to 16,014 units.

Stocks begin the last week of February with gains after the main indices reached all-time highs last week thanks to the good results of the processor manufacturer Nvidiawhich were driven by the Artificial Intelligence (AI).

The accelerated growth of processor manufacturer Nvidia and its strong impact on stock markets around the world have fueled fear among analysts and investors that a bubble may be brewing around AI.

With this in mind, investors await the publication this Thursday of the personal consumption expenditure (PCE) price index, a key data point for the Federal Reserve (Fed).

Operators are also weighing the latest comments from the central bank, which in the minutes of its last meeting indicated that it will not reduce interest rates until it is sure that inflation is heading towards the 2% objective.

On the other hand, this Monday the e-commerce giant Amazon joins the Dow Jones Industrial Index, replacing the pharmacy chain Walgreens Boots Allianceas reported by the owner entity S&P Global last week.

Amazon’s addition to the index comes to reflect “the changing nature of the U.S. economy” and increase the index’s exposure to the retail sector and other business areas, according to the entity.

By sectors, the non-essential goods sector (0.47%) and the financial sector (0.44%) led the gains, while the greatest losses were for the public services sector (-1.14%) and communication sectors. (-0.87%).

Among the 30 Dow Jones stocks, the biggest advances were for Salesforce (2.06%) and Walmart (1.12%), and the most affected were Walgreens (-1.56%) and Verizon (-1.04% ). EFE (I)

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