May 26, 2020

Wall Street closes higher with new S&P record

Wall Street closed this Friday in green, with one of its main indexes, the S&P, setting a new historical record with five consecutive weeks on the rise, at a time of some optimism among investors for the possibility of a preliminary trade agreement between China and U.S.

At the close of operations on the New York Stock Exchange, the Dow Jones rose 0.02% or 6.44 points, to 27,681.24.

The selective S&P 500 gained 0.26% or 7.90 integers, standing at 3,093.08; while the Nasdaq revalued 0.48% or 40.80 points, to 8,475.31.

By sectors, the highest profits were for the sanitary (0.80%), the technological (0.59%), the materials (0.39%), the communications (0.37%) and the industrial (0 , 16%).

The losses were led by companies in the energy sector (-0.81%), public services (-0.38%) and real estate (-0.24%).

The main stock averages rose slightly on Friday, registering new record highs, as Wall Street culminated a week in which commercial optimism caused a massive rotation of bonds and stocks.

Investors were very attentive to the trade war, after a spokesman for the Chinese Ministry of Commerce said Thursday that China and the United States agreed to cancel existing tariffs in phases. A US official also said both sides agreed to reverse the levies in installments, according to the CNBC.

But Donald Trump threw a jug of cold water on the recent trade optimism between the United States and China by saying this morning that he has not agreed to reverse existing tariffs. The shares fell to their lows of the day at that time, and then closed in green.

Meanwhile, Jean-Claude Juncker, president of the European Commission, said "there will be no fees" to the US automobile sector in Europe next week. President Donald Trump has until November 13 to decide whether to continue with car rates in the EU.

The feeling of risk and the improvement in the tone around trade had a great impact on bonds. The 10-year US Treasury yield had its biggest upward movement since the 2016 elections.

Among the 30 Dow Jones values, Disney (3.76%), Johnson & Johnson (1.19%), Microsoft (1.18%) and Walgreen Boots (0.97%) stood out at the close.

In contrast, the most affected were Verizon (-1.95%), Exxon Mobil (-1.90%), Boeing (-1.77%) and 3M (-0.79%).

In other markets, Texas intermediate oil rose a slight 0.2% to $ 57.24 a barrel and at the end of Wall Street, gold fell to $ 1,459.60 an ounce, the 10-year Treasury bond yield it rose to 1,943% and the dollar won against the euro, with a change of 1.1016.

. (tagsToTranslate) Wall (t) Street (t) closes (t) record (t) SP

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