Wall Street closes in green and the Dow Jones rises 1.29% in a rebound session

New York, May 12 (EFE) .- Wall Street closed this Thursday with gains and its main indicator, the Dow Jones of Industrialists, rose 1.29% after a day of rebound in which part of the day lost was recovered above due to the fear of the rebound in inflation.

At the close of the session on the New York Stock Exchange, the Dow Jones rose 433.79 points, to 34,021.45, and the selective S&P 500 rose 1.22% or 49.46 points, to 4,112.50.

The Nasdaq composite index, on which the main technology companies are listed, rose 0.72% or 93.31 points, to 13,124.99.

Almost all sectors finished in green, led by industrial (1.9%), financial (1.87%) and public services (1.79%).

The New York stock market took the opportunity to buy shares at a cheaper price, especially technological ones, after the falls caused by the April inflation data in the US on Wednesday.

The technology sector advanced 1.37%, driven by large listed companies such as Apple (1.79%), Microsoft (1.69%) and Alphabet (1.02%).

Investors appeared to sideline concerns about a takeoff in inflation and the possible withdrawal of monetary stimulus, focusing on reopening.

And it is that Wall Street was encouraged with the progress towards “normality” after the US health authorities concluded that the vaccinated population of the country can go without a mask in most closed spaces.

The consumer price index rose 0.8% in April and year-on-year inflation stood at 4.2%, the highest recorded since 2008, while the producer price index rose 0.6% month-on-month and 6.2% year-on-year, its largest increase since 2010.

Among the 30 listed on the Dow Jones, the increases of Home Depot (2.72%), Travelers (2.64%), JPMorgan Chase (2.58%) and 3M (1.21%) stood out.

Only Chevron closed in red (-0.69%), coinciding with moderate losses in the energy sector (-0.69%).

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As for cryptocurrencies, bitcoin fell to $ 49,000 after Elon Musk, founder of Tesla, said that the company will stop accepting payments with this cryptocurrency due to its environmental impact. Tesla was down 3.09% today.

In other markets, Texas oil fell to $ 63.82 a barrel and at the close of the session, the yield of the 10-year Treasury bond rose to 1.656%, gold amounted to $ 1,827.10 an ounce and the dollar it lost ground against the euro, with a change of 1.2081.

(c) EFE Agency

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