Wall Street closes in green in a week of record and recovery

New York, Aug 28 . .- Wall Street closed in green this Friday with its main indicator, the Dow Jones Industrials, gaining 0.57%, in a week that has been characterized by the concatenation of historical highs of the index S&P 500 and by the momentum of the Dow, which recovers the figure with which it started the year.

At the close of operations on the New York Stock Exchange, the Dow increased 161.60 points and stood at 28,653.87 units, thanks to the advance of large corporations such as Coca Cola (3.32%), Walmart (2.69% ), Exxon Mobile (2.39%) and Visa (2.22%).

At the other extreme, Walgreen Boots (-1.47%), Goldman Sachs (-1.16%) and Travelers (-1.1%) led the losses.

For its part, the S&P 500 advanced 0.67% or 23.46 units to settle at 3,508.01 units, to break the 3,500 barrier and set a new historical record; while the Nasdaq gained 0.60% or 70.30 points to 11,695.63. integers.

All sectors closed the day with gains, with energy (1.85%) leading, followed by raw materials (1.1%), technology (0.96%) and essential consumer goods (0 , 93%).

It seems that today, yesterday’s announcement by Fed Chairman Jerome Powell that he will relax policy on inflation to boost employment has settled on the minds of investors who also interpret it as a sign that interest rates will remain close to zero for a time.

Markets seem oblivious to the continuous announcements of bankruptcies, store closings or layoffs of workers in the United States, where the unemployment rate in July stood at 10.2%, after a loss of 1% in that month. , 8 million jobs.

“For now, the stock market appears to be enjoying the best of both worlds as it feeds on signs of economic recovery while future monetary stimulus continues to generate a comfortable outlook. More fiscal stimulus is likely on the way.” StoneX global market strategist Yousef Abbasi said in a note.

The S&P 500 index, which on August 18 surpassed its previous historical mark, reached on February 19, has not stopped growing since then and this week has beaten its historical maximum for five consecutive days.

Thus, according to analysts and in the absence of what happens next Monday, the S&P 500 may close its best August since 1986 with an accumulated rise since August 1 of 6.6%, its fifth consecutive month appreciating.

For its part, the Dow Jones surpassed the figure today with the start of 2020 (28,538 integers) when no one expected the damage that the coronavirus would cause.

The industrials Dow is the only one of the big three that is reluctant to leave behind the losses of 2020

In other markets, the intermediate oil of Texas (WTI) closed this Friday with a decrease of 0.2%, to 42.97 dollars a barrel, and at the close of Wall Street gold rose to 1,972.20 dollars an ounce; the yield on the 10-year Treasury bond fell to 0.728% and the dollar lost ground against the euro, with a change of 1.189.