Wall Street Opens in Green with Dow Jones Rising 0.14 Percent – December 26 Market Update

Wall Street opened this Tuesday, December 26, in green and the Dow Jones Industrial Average, its main indicator, rose 0.14 percent, maintaining the good streak of recent weeks.

Ten minutes after the trading floor opened, the Dow Jones stood at 37,438 points, and the selective S&P 500 rose 0.22 percent, to 4,765 points.

While the Nasdaq market composite index, in which large technology companies are listed, rose 0.33 percent, to 15,042 points.

The three indices continue their streak of gains encouraged by the increasingly clear possibility that the US Federal Reserve (Fed) will lower interest rates next year, as well as by the latest inflation data, which in year-on-year terms It stood at 2.6 percent, very close to the central bank’s 2 percent target.

Last Friday, a report from the US Department of Commerce showed that the price index for personal consumption expenditure – PCE, the Fed’s favorite inflation indicator – fell 0.1 percent in November compared to October. It is the first time that a monthly rate drop has been recorded since April 2020.

By sector, gains predominated, led by the energy sector (0.77 percent) and the technology sector (0.46 percent), while the only sector that opened with losses was the health sector (-0.04 percent).

Among the 30 Dow Jones stocks, the biggest gains were for Intel (2.84 percent) and Caterpillar (1.28 percent), while the biggest losses were for Amgen (-0.59 percent) and Verizon (-0.43 percent). .

How is the peso trading against the dollar today, December 26?

The Mexican peso returns from the Christmas celebrations and appreciates against the dollar after reaching 16.98 units this Tuesday, December 26.

The above is due to speculation in the market about whether the United States Federal Reserve (Fed) will cut rates starting in March 2024.

At 9:00 a.m., the Mexican currency was trading at 16.98 pesos per dollar in electronic operations, which represents an appreciation of 0.17 percent or 2.9 cents compared to Friday’s close, when the exchange rate closed at 16.96 units.

The Mexican currency closed on Christmas Day at 17.01 pesos per dollar, according to Bloomberg. The dollar index, which measures the value of the US currency compared to others, was at 101.70, which represents an increase of 0.01 percent.

2023-12-26 19:06:27
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