New York (Transatlantic Today) – Wall Street opened on mixed ground this Monday, with the Dow Jones Industrial Average, its main indicator, falling 0.14% to 39,946 points. This comes as the index seeks to consolidate its recent milestone of surpassing 40,000 points.
Index Movements
Five minutes into the trading session, the S&P 500 advanced 0.16% to 5,311 points, and the Nasdaq rose 0.43% to 16,757 points.
Recent Highs
According to Infobae, The Dow Jones reached 40,000 points for the first time during the session on Thursday, but it would not close above this level until a day later, ending the week at 40,004 points, boosted by comments from the Federal Reserve that raised rate cut expectations, as well as strong macroeconomic earnings news.
Market Analysis
American analyst and investor Tom Essaye wonders this Monday “how long” this phenomenon known as ‘Goldilocks’ will last, an economic situation in which growth is not even high enough to generate relative tensions. to inflation nor too weak to cause a recession.
Attention paid to Artificial Intelligence
This week artificial intelligence will once again capture much of the attention of investors due to the publication this Wednesday of the results of Nvidia’s first fiscal quarter, which will serve to gauge the impact of this technology on the market rebound, as well as such as the possible announcements that Microsoft may make at its developers’ conference.
Federal Reserve Minutes and Economic Data
On Wednesday, the Federal Reserve will release the minutes from its meeting held between April 30 and May 1. Wall Street also remains attentive to other economic data such as sales in the US housing stock or unemployment benefit applications.
Sector Performance
Wall Street opened with more sectors experiencing losses than gains. Technology rose by 1.15%, and communications risen by 0.61%, while financial and essential goods sectors both fell by 0.30%.
Dow Jones Highlights
Within the Dow Jones, Boeing rose by 1.67%, and Intel advanced by 1.15%. Conversely, Johnson & Johnson fell by 1.16%, and Home Depot declined by 1.14%.
Oil Prices
Texas intermediate oil (WTI) fell 0.35% to $79.78 per barrel on Monday, despite the deaths of Iranian President Ebrahim Raisí and Minister of Foreign Affairs. Hossein Amirabdollahian, the Persian nation’s foreign minister, died in a helicopter crash this Sunday.
Analyst Tom Essaye pointed out that the lack of an external attack contributing to the accident has kept oil prices stable. Additionally, Iran’s oil policy is not expected to change with Vice President Mohamad Mojber assuming the role of interim president as the country prepares for new elections in 50 days.
