Wall Street closed the week in the green and the Dow Jones rose 0.80%

Wall Street closed this Friday in the green for the fourth consecutive day and its main indicator, the Dow Jones for industrialists, rose by 0.80% in a session that underpinned the good week of the New York parquet driven by the increase in interest rates of the Federal Reserve (Fed), which has reassured the market.

The Dow Jones added 274.17 points to 34,754.93 integers, while the selective S&P 500 also climbed 1.17% or 51.45 units, to 4,463.12, according to data at close of business.

The composite index of the Nasdaq market, in which the main technology companies are listed, ended again today with the highest profits of the parquet, which were 2.05 per cent or 279.06 units, up to 13,893.84.

Wall Street closed today with significant advances that resemble those recorded in the previous three days, and that have led the S&P 500 to record its best week since 2020.

The Fed’s decision to raise interest rates by 0.25 continues to boost the market, which on the other hand seems to have digested the initial uncertainty caused by the conflict in Ukraine.

“The worst thing about any crisis is that when it suddenly appears unexpectedly, it only creates uncertainty. You have no idea what it means or where it’s going to go, and the investor reacts violently to turn away,” Leuthold Group’s director of investment strategy Jim Paulsenen told CNBC.

Talks between US President Joe Biden and his Chinese counterpart, Xi Jinping (The White House/Handout via REUTERS)

Talks between US President Joe Biden and his Chinese counterpart, Xi Jinping, in which both leaders affirmed that their countries had an obligation to promote peace, also gave peace to the session.

This is a sign that Biden is trying to convince the Chinese president to stay out of the conflict, after Russia has allegedly asked Beijing for military aid.

The price of Texas intermediate oil (WTI) rose by 1.7% to $104.7 per barrel, after Russian President Vladimir Putin accused Kiev of trying to bog down negotiations to end the invasion of Ukraine.

Almost all sectors ended up in green, led by technology (2.29 per cent), non-essential consumer goods (2.18 per cent) and telecommunications (1.44%). Only the public services sector closed in red, which fell by 0.9%.

Among the 30 Dow Jones securities, the most favored were Salesforce (3.99%), Nike (3.01%), Visa (2.65%) and Apple (2.09%), while Verizon (-2.98%), Johnson & Johnson (-1.11%), Dow Inc (-0.72%), and Travelers Cos (-0.40%) led the losses.

In other markets, at the close of Wall Street, gold fell to $1,920.90 per ounce, the ten-year bond fell to 2,149% and the dollar was gaining ground against the euro at a rate of 1.1048.

(With information from EFE)

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