Wall Street opens green and the Dow Jones gains 1.7% boosted by oil



Wall Street opened on Wednesday higher and the Dow Jones Industrials, its main indicator, advanced 1.7% and almost 400 points, boosted mainly by the rebound in oil prices, which in recent days has experienced dark days of concern and losses in the New York parquet.

Five minutes after the start of operations on the New York Stock Exchange, the Dow Jones gained 390.90 points specifically, up to 23,409.78, driven by large listed companies such as Intel Corp (4.7%) and Exxon Mobil (4.47 %), benefited by the increases in crude oil prices.

For its part, the selective S&P 500 rose 1.91% or 52.28 units, to 2,788.84, and the Nasdaq composite market index, in which the main technology groups are listed, rose 1.91% or 162 , 25 points, up to 8,425.48.

The New York parquet received relatively optimistic, but also cautiously, the increase in black gold prices after two days in which the future contracts of Texas intermediate oil (WTI) came to fall below zero for the first time in the story, with sellers willing to pay buyers to ditch their assets by May for lack of physical storage capacity.

At this time, contracts for delivery in June, the new reference month, rose 39.84%, placing the barrel slightly above $ 16, at 16.18.

Investors hope that the measures to reopen the economy will begin to take effect little by little, although they are concerned about the negative impact that lack of activity may have in certain sectors over an extended period of time.

Wall Street also welcomed the approval in the Senate of the stimulus package valued at $ 484 billion to alleviate the effects of the COVID-19 crisis on small businesses, improve facilities in hospitals and increase the capacity to test against the pathogen. .

By sectors, gains were led by energy (3.3%), technology (2.26%) and non-essential goods (1.89%)

Profits were the norm among the Dow Jones Big 30 Bigs and, in addition to Intel and Exxon, they also posted significant gains United Health (2.9%), McDonalds (2.48%) and Chevron (2.46%)

Only Caterpillar and Walmart reported very slight losses.

In other markets, gold rose to $ 1,730.60 an ounce, the yield on the 10-year Treasury bond rose to 0.595% and the dollar lost ground against the euro, with a change of 1,085.

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