Wall Street closes moderately higher after Fed minutes

The three main indices of Wall Street ended with a profit this Wednesday. In their first advance of the year, US stocks rose sharply at the Chinese open after anti-corruption measures Covid-19 and to the future of the rates of the Federal Reserve.

the main index Dow Jonesmade up of the shares of 30 industrial giants, moved 0.40% to 33,269.77 units, while the reference S&P 500 rose 0.75% to 3,852.97 points. the technological Nasdaq it advanced 0.69% to a level of 10,458.76 units.

From early on, the market rose driven by good inflation data in Europe that were complemented by the expectation of a faster than expected opening of the economy in China. But the indices later fell in reaction to the Fed minutes.

Minutes from the US central bank’s December meeting showed that all members of the Federal Open Market Committee considered it inappropriate to cut interest rates in 2023 due to still high inflation.

With nothing outside of what was forecast in the document, the indices recovered ground hand in hand with increases in companies such as Salesforce, which gained 3.58% to $139.60 after announcing a 10% cut in its workforce, almost 8,000 layoffs among 79,000 employees .

With the exception of the energy sector, which fell hand in hand with a sharp 4.82% drop in US oil, all sectors closed in the green. Within the Dow Jones index, 24 of its 30 components closed the day in positive territory.

jose.rivera@eleconomista.mx