Wall Street The day began this Tuesday in green and the Dow Jones of Industriales, its main indicator, added a 1.04% boosted by the financial sector that today was rebounding after days of nerves due to the collapse of the Silicon Valley Bank (SVB) and coinciding with the inflation data in USA February.
Ten minutes after the start of operations on the New York Stock Exchange, the Dow Jones gained 331.99 points, until 32 thousand 151.13 unitswhile the selective S&P 500 rose a 1.52% o 58.46 integersuntil three thousand 914.22 points.
The composite index of the Nasdaq market, where the main technology companies are listed, climbed a 1.83% o 204.94 unitsuntil 11 thousand 393.78 integers.
The Wall Street floor was trying to shake off five days of nerves and tension today since the actions of the Californian bank SVB precipitated last Thursday, which the following day was closed by the US authorities, and which affected the entire financial system with repercussions in the whole economy.
The banks most affected by the intervention of the SVB and Signature Bank, closed last Sunday, rebounded strongly today after having seen how their shares sank in recent days, while several credit agencies such as Moody’s pointed to them as possible candidates for new closures.
Thus, First Republic rose after the open a 48%the Western Alliance bank climbed a 43%PacWest bounced a 53%Comerica was up a 11% and Zions went up a 15%.
In the same way that the large financial corporations were weighed down by the falls of these banks, today they also joined the rises and this morning the titles of JPMorgan Chase increased a 1.57%Bank of America rebounded a 2.93%Citigroup rose a 5.27%Wells Fargo a 5.1% and US Bancorp a 4.3%.
On the other hand, the Bureau of Labor Statistics (BLS) announced that the year-on-year rate of inflation in the United States continued to decline in February, for the eighth consecutive month, and stood at 6%four tenths below that of January.
However, in monthly terms, consumer prices rose four tenths, at a time when the Federal Reserve (Fed) faces great scrutiny for its measures to curb inflation, and more now after the debacle of the SVB bank and fears of a banking crisis.
By sector, the financial gains of (2.36%) and the communications (2.26%)followed by raw materials (1.96%) and the technological (1.83%)while none started the day negatively.
Among the 30 Dow Jones stocks, the most favored companies were Salesforce (4.4%)American Express (3.43%) y Goldman Sachs (3.19%)while only three opened in red with Travelers (-0.61%) as the worst placed.
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