Wall Street closes in the green and the Dow Jones rises 0.56%

New York, June 12 (EFE).- Wall Street closed in the green this Monday and its main indicator the Dow Jones Industrials rose 0.56%, on expectations that the Federal Reserve (Fed) will suspend interest rate hikes.

At the close of business in New York, the Dow Jones was at 34,066.33 points, while the benchmark S&P 500 rose 0.93% to 4,338.93 points, its highest since April last year.

The Nasdaq Composite Index, which lists major technology companies, rose a significant 1.53% to 13,461.92 whole points.

New York parquet was upbeat on Tuesday’s May inflation data, which economists expect to fall to 4% year-on-year, and the Fed’s conclusion of its monetary policy meeting on Wednesday.

According to analysts, the market is betting on buying because the central bank is expected to keep interest rates unchanged in June after ten months of hikes, although it has not ruled out a hike later.

Sector-wise, technology companies (2.07%), non-essential goods (1.74%) and communications (1.2%) dominated and led, while the worst hit was energy (- 0.97%).

Energy companies were dragged down by today’s sharp drop in the price of Texas oil, which lost 4.4% to $67.12 a barrel on doubts about the evolution of global demand.

Among the 30 companies listed on the Dow Jones, Intel’s 5.52% advance stood out, followed by Boeing (1.96%), Cisco (1.65%) and Apple (1.56%) compared to declines by Chevron (-0.96%) and Procter & Gamble (-0.78%). .

In other markets, by the end of the trading session, the yield on the 10-year US bond was at 3.741%, gold fell to 1,972.40 dollars (1,833.21 euros) an ounce, and the dollar fell against the euro, unchanged. 1.0758.

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(c) EFE Agency

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