July 12, 2020

Wall Street opens mixed and the Dow rises 0.67% despite the increase in cases of COVID19



Wall Street opened mixed this Monday and its main indicator, the Dow Jones Industrials, rose 0.67% despite the increase in cases of coronavirus in the United States and by investor confidence that the economy will continue to recover despite the sprouts.

Five minutes after the start of operations on the New York Stock Exchange, the Dow Jones scored 167.77 points, up to 25,183.32 points, boosted by large listed companies such as Boeing (4.63%), which has received the certification to test their model 737 MAX, and Caterpillar (2.05%).

For its part, the selective S&P 500 advanced 0.19% or 5.65 points, to 3,014.70 points, and the Nasdaq composite index, where the main technology companies are listed, was the only indicator in red and slid 0 , 15% or 15.02 points, up to 9,742.19 integers.

The New York parquet began the session trying to offset the increase in coronavirus cases with monetary stimuli from the Federal Reserve and confidence that, despite the flare-up of the pandemic after the increase in cases in certain states such as Florida, the economy will continue its reopening in the coming months.

According to data from Johns Hopkins University, cases of COVID-19 in the United States have already exceeded 2.5 million and deaths amount to more than 125,000.

“Markets are still struggling with new cases of the virus against additional liquidity flowing from central bank and government stimulus programs,” Brooks Macdonald deputy chief investment officer Edward Park told Wall Street. Journal.

Overall, experts point out that there is still a high level of volatility on the New York Stock Exchange reflecting that fear of a second wave of coronavirus continues to be a critical factor among traders that is holding back profits and will force investors to “rethink” their investment portfolios.

By sector, the highest gains were for the industrial sector (0.81%), that of raw materials (0.67%) and that of essential goods (0.57%), while that of non-essential goods was in red ( -0.84%), technology (-0.7%), and communications (-0.64%), among others.

Among the 30 companies listed on the Dow Jones, apart from Boeing and Caterpillar, the increases of Raytheon Technologies (2.04%), Dow Inc (1.78%) and Walgreens (1.34%) stood out.

Technological firms such as Intel Corp (1%), Microsoft (-0.97%) and Cisco System (-0.92%) fell above all

Elsewhere, Texas oil rose 0.47% to $ 38.67 a barrel, gold rose to $ 1,782 an ounce, 10-year Treasury yield was flat at 0.638% and the dollar was down terrain against the euro, with a change of 1,126.

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