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Wall Street closes first week of second half in record territory

New York, Jul 2 (.) .- Wall Street said goodbye this Friday to the first week of the second semester with the S&P 500 index setting new records, and with investors encouraged by new indicators that affect the economic recovery in the United States, such as the good employment data known this Friday.

In the set of the last five sessions, the Dow Jones of Industrials rose 1%, the Nasdaq index gained 1.9% in the week and the S&P 500 continues at levels never seen before, which appreciated 1.67%, after seven consecutive days breaking records.

In the main European squares, Madrid lost 2.06%, Paris 1.06%, Milan 0.89% and London 0.18%, while Frankfurt appreciated 0.27%.

The New York stock market went through the week with a firm step thanks to the multiple signs that continue to point towards economic recovery.

On Monday, the fruits of the infrastructure plan proposed by President Joe Biden of 1.2 trillion dollars over 8 years and reached among senators of different political backgrounds were still reaping.

“The bipartisan agreement on infrastructure reached last week in Washington DC seems to have some chance of becoming a reality,” said analyst John Stoltzfus of Oppenheimer Asset Management at the time.

Also, the data released last week on the growth of the economy by 1.6% in the first quarter, according to the latest government estimate, have continued to boost investors’ spirits.

On Monday he highlighted the milestone of Facebook, which achieved a market capitalization of one trillion dollars, joining a select club made up of Apple, Microsoft, Amazon, which today rose more than 1%, and Alphabet, which barely changed.

The company founded by Mark Zuckerberg reacted positively on the stock market to the dismissal in federal court of a lawsuit by the US competition regulator and 48 attorneys general.

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But the best news for investors came on Thursday and especially this Friday.

The New York stock market reacted positively on Thursday to the lower weekly job loss. A total of 364,000, down from the 390,000 expected, the lowest number since the outbreak of the pandemic.

Today the labor data that had been waiting all week were known and that revealed that 850,000 jobs were created in June, well above what analysts predicted.

A figure that points to a consolidation of the economic recovery in the United States after several months of doubts about the situation of the labor market, despite the fact that the unemployment rate stands at 5.9%, slightly above what provided.

“This is a solid report and should be taken as a sign of things to come, for an accelerating labor market,” said the deputy economic director of the firm Aberdeen Standard Investments, James McCann, quoted by the specialized channel CNBC.

The intermediate oil of Texas (WTI) has chained its sixth consecutive week of revaluation and has risen 1.5% this week to $ 75.16 a barrel, exceeding the value of $ 75 for the first time since 2018, while Investors are closely following the OPEC + meeting where production for the second half of the year will be set.

(c) . Agency

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