Wall Street opened in green on Monday and the Dow Jones, its main indicator, rose 0.1% on a day in which the S&P 500, often considered the “real gauge” of the state of the stock market, was approaching to the historical record that it marked in February, before the falls due to the pandemic.
Five minutes after the start of operations on the New York Stock Exchange, the Dow Jones rose 29.11 points, to 27,960.13, while the selective S&P 500 advanced 0.37% or 12.43 integers, to 3,385.28. For its part, the composite index of the Nasdaq market, where the main technology companies are listed, gained 0.63% or 69.49 units, to 11,088.79 points.
The New York stock market opened with gains amid a rarefied climate due to the lack of frantic activity and fewer operations than usual due to the August holidays, although with the S&P 500 approaching the 3,386.15 points that it marked in February and that the analysts point to it as an important milestone that could add confidence in the robustness of the economic recovery.
“We had a feeling that the bottom of the economic downturn was not as bad as the experts’ baseline forecast. But there is also the feeling right now that the recovery will not be rapid in the shape of a ‘V’, but will be slower, “Rabobank senior strategist Lyn Graham-Taylor told the Wall Street Journal.
Despite the possible record of the S&P 500, tensions between the United States and China were again worrying in the New York stock market, especially after President Donald Trump issued an executive order that forces ByteDance to sell or spin off TikTok in 90 days for the “credible evidence” that ByteDance “could take action that threatens to harm the national security of the United States.”
By sectors, all were trading positive except energy (-0.47%), financial (-0.46%) and public services (-0.11%) while the most notable gains were for technology ( 0.79%), raw materials (0.73%), health (0.71%) and non-essential goods (0.69%).
Among the 30 large listed companies of the Dow Jones, Home Depot (2.01%), Walmart (1.32%), Merck & Co (1.21%) and McDonald’s (0.69%) advanced. Firms such as Boeing (-1.95%), Walgreens (-1.5%), American Express (-1.27%) or Goldman Sachs (-1.26%) operated in red.
In other markets, Texas oil was up 0.3% to $ 42.15 a barrel; gold rose to $ 1976.60 an ounce; the yield on the 10-year Treasury bond fell to 0.691% and the dollar lost ground against the euro, with a change of 1.187.