Thursday, September 29

Wall Street chains its bullish streak with a rise in the open

Tuesday’s session ended mixed for the US stock market after the bullish rally in recent sessions. The Dow Jones was up 0.26% or 101.66 points to 36,404.04 points. The S&P 500, which set a new record in Monday’s session, yesterday lost 0.08% or 4.53 points to 4,787.14 units. Lastly, the Nasdaq Composite, which yielded 0.54% or 86.27 points to 15,784.99.

The technology sector, which on Monday had led the advances, was yesterday the one that had the worst performance, weighed down by large stocks and by semiconductor companies, which suffered “profit takings” by the short-term investors, after having revalued very strongly during the previous session, according to Link Securities.

From the business side, Apple announced yesterday the closure of all its stores in New York due to the advance of Ómicron. In addition, it has launched an investigation in India to its supplier of iPhones for alleged violation of working conditions.

Tycoon Elon Musk once again sells Tesla shares and has already accumulated a sale of 8.5% of his package that represents just over 15,000 million dollars, that is, 1.43% of Tesla shares in circulation.

On the other hand, Microsoft founder Bill Gates figures mistrust in (political) governments as one of the main risks for 2022.

Likewise, activists and politicians are pressuring the Moderna pharmaceutical company for the high price of the COVID-19 vaccine and are requesting, in addition to a drop in prices, an increase in production for less developed countries.

More than 4.1 million cases of Covid have been confirmed in the United States this month, according to data from Johns Hopkins University. That’s well above the November count of 2.54 million. The country’s seven-day average number of cases is also 231,888 cases, more than triple the average on November 27.

However, the Centers for Disease Control and Prevention recently shortened its recommendation for isolation for people who test positive from 10 days to five if they have no symptoms. Research from South Africa also shows that omicron infections can boost immunity against the delta variant.

The airline industry it continues to be the most affected by this crisis derived from the omicron variant. The major US airlines canceled more than a thousand flights on Monday, the fourth consecutive day of cancellations. The ones that canceled the most flights yesterday were United, American Airlines and Delta (with 94, 84 and 79, respectively).

As for oil, Brent barrels futures are up 0.01% at $ 78.67 and West Texas futures are down 0.20% at $ 75.83.

Russian Deputy Prime Minister Alexander Novak said on Wednesday that the group of major OPEC + oil producers has resisted requests from Washington to increase production, as they want to provide the market with clear guidance and not deviate from their politics.

The United States has repeatedly lobbied OPEC + to accelerate production increases, as domestic gasoline prices soared and approval ratings for US President Joe Biden fell. In the face of resistance from the group, Washington announced in November that it and other consumers would release reserves.

Asked why OPEC + rejected the US demands, Novak said that OPEC + has a long-term vision.

“We believe that it would be correct for the market to show in the medium term how we will increase production as demand grows,” RBC told the outlet.

In the currency market, the euro lost 0.24% to 1.1282 EUR / USD.

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