Wall Street closes positive; Nasdaq posts its best week since March

The three main stock indices of the US market ended in the green this Friday, at the end of a very positive week. Prices extended their advance in Wall Street after the boost given to the market yesterday by a drop in the inflation reading.

the main index Dow Jones closed the session with an advance of 0.10% to 33,747.86 points, while the extended reference S&P 500 gained 0.92% to 3,992.93 units. The Nasdaqwith its high technological component, jumped 1.88% to a level of 11,323.33 units.

Investors remain buoyant after the US inflation reading for October came in below expectations, supporting bets on a moderation in price hikes. interest rates from Federal Reserve (Fed).

All three indices ended with strong weekly gains, led by the Nasdaq, with 8.15% in its best period since March. The S&P 500 improved 6%, its best performance in five days since June, and the Dow Jones index accumulated a 4.15% advance.

Most of the 11 sectors of the S&P 500 ended the session positively and within the Dow Jones 18 of 30 stocks closed higher. Among the broadcasters, the action of Amazonwith a jump of 4.31%; Apple Inc gained 1.9% and Microsoft Corp1.7 percent.

On Thursday, the S&P 500 and Nasdaq indices posted their biggest daily percentage gains in more than two and a half years, in response to annual inflation data falling below the 8% level for the first time in eight months.

“We are in the fifth rally of this bear market, with increases of more than 5% in a period of monetary restriction. The advance is supported by the fundamentals, from the results of the companies, the Fed’s perspectives and inflation,” he explained in a eToro note.

jose.rivera@eleconomista.mx