Wall Street ends mixed after non-farm payroll report, but closes second positive week in a row

The three main indices of Wall Street The negotiations ended this Friday with mixed performances. The stock references closed practically stable after a solid report of non-farm payrolls that relaxed the enthusiasm in the market.

The main index Dow Jones, of 30 industrial giants, rose 0.10% to 34,429.88 units. The extended reference S&P 500, of 500 components, lost 0.12% to 4,071.70 units. The Nasdaqof high technological weight, fell 0.18% to the level of 11,461.50 points.

The report of non-farm payrolls It showed that US employers added 263,000 jobs in November, more than expected. The figure could complicate the intention of the Federal Reserve to moderate increases to interest rates.

Just Wednesday a speech by the president of the central bank, Jerome Powell, gave a strong boost to the markets, after confirming that it could begin to relax its steps. The decrease in inflation of the United States published yesterday, reinforced that idea.

“The labor market had another decent month in November. Hiring didn’t miss a beat. The unemployment rate held firm. It’s an encouraging report for all but the Fed, which is trying to rein in inflation,” said Callie Cox, an analyst from eToro in the US.

Treasury yields rose for part of the session on the back of the jobs data, leading the indices to coincide in negative territory near the close, but as economic optimism waned, they regained ground.

Shares of big tech companies, sensitive to higher interest rate environments, ended mixed, signaling indecision on this issue. Apple, the largest company, fell 0.34%, and Microsoft advanced 0.13 percent.

Despite this, the three indices closed the week with cumulative gains (the second in a row), which were led by the Nasdaq, with a movement of 2.07 percent. The S&P 500 index moved 1.13%, and the Dow Jones main index, 0.24 percent.

jose.rivera@eleconomista.mx