Wall Street closes with gains driven by growth stocks

The main indices of Wall Street registered gains on Thursday driven by stocks growing on a day with little trading, after data showed signs of cooling the working market US following Federal Reserve interest rate hikes.

The main sector indices of the S&P 500 rose, led by advances in communication services and technology.

“What’s behind today’s rally could just be the pressure that we’ve seen in the last two weeks when prices in the markets that are forming today have been under so much pressure, given the stance that the Federal Reserve has,” he said. Keith Buchanan, a portfolio manager at GLOBALT Investments in Atlanta.

The report of work Department It showed initial claims for jobless benefits increased by 9,000, to a seasonally adjusted 225,000, in the week ending December 24. The report hinted at some cooling off in an otherwise tight labor market, bolstering hopes that the Fed will ease its aggressive monetary policy.

The Dow Jones Industrial Average rose 345.09 points, 1.05%, to 33,220.8 units; the index S&P 500 gained 66.06 points, 1.75%, to 3,849.28 units; and the Nasdaq Composite it advanced 264.80 points, or 2.59%, to 10,478.09 units.

The mega-cap stocks of Apple Inc, Alphabet Inc, Microsoft y Amazon.com Inc they rose after the falls in the last few sessions.

The Fed’s aggressive rate hikes hit equities this year, with a decline of 19.6% from S&P 500 and the Nasdaqlosing almost 33% of its value.

The main indices of Wall Street they had fallen more than 1% the day before and the Nasdaq marked a lockdown low for 2022 as rising Covid-19 cases in China and geopolitical tensions added to fears of a likely recession in 2023.

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