Friday, July 1

Wall Street arrives with rises after the highs of the Dow Jones and the S&P 500

Wall Street is on the way to putting a finishing touch on second year of the pandemic, which has produced higher yields than the first and new all-time highs, as the recovery puts the energy sector on the podium and big business continues to see an opportunity in every crisis.

The New York Stock Exchange has had better profits in its second year of the pandemic than in 2020, when the outbreak of the coronavirus ended the longest bull cycle in history, induced a brief bear market and gave way to a brilliant period.

In the 2021 count, the DOW JONES Ind Average has appreciated by almost 20% and the S&P 500 by nearly 30%, well above the 7% and 16%, respectively, of 2020. The Nasdaq, dominated by technology , has shot up 23%, a remarkable figure but that pales compared to the meteoric 44% last year.

The energy sector is crowned the winner with a rise of 49%, which coincides with the recovery in fuel prices, especially in the barrel of Texas oil, whose futures were negative in 2020 and are now trading 60 % Taller.

It is not a surprise, then, that the company with the best performance of this year in the S&P 500 is an energy company: the oil company Devon Energy, which has appreciated 180% after raising its dividends and share buybacks, measures that it shares with others. industry players.

The Alphabet-led “Big Techs” have continued to rise, but for the first time in five years the Nasdaq is underperforming the S&P 500, and experts point to looking for stocks that will benefit from a return to normalcy and anticipation of tougher monetary policy.

Wall Street closed this Wednesday with new records in the Dow Jones of Industrialists and the selective S&P 500, which add 45 and 70 historical highs, respectively, since the beginning of the year.

According to data at the end of the session on the New York Stock Exchange, the Dow Jones rose 0.25% or 90.43 points, to 36,488.63, while the selective S&P 500 rose 0.14% or 6.71 units, up to 4,793.06. On the contrary, the Nasdaq composite index, which brings together the most important technology companies, fell a slight 0.10% or 15.51 integers and stood at 15,766.22.

The New York stock market seems ready to comply with the tradition of the Christmas rally, the stock market surge at the end of the year and the beginning of the following, and continues to add gains to the accumulated calculation of the three indicators.

Analysts note that the market is still on the lookout for a global surge in COVID-19 cases as the omicron variant spreads, but some fears appear to have allayed. “For now, few nations have imposed new lockdowns and that allows investors to ignore the latest spike in cases,” said The Sevens Report analyst Tom Essaye.

Biotech Biogen soared 9.5% after the Korea Economic Daily newspaper reported that the technology giant Samsung negotiates its purchase for about 40,000 million dollars.

On the other hand, several consumer stocks rose to all-time highs during the session, including Domino’s Pizza, McDonald’s, Yum Brands, Costco y Procter & Gamble.

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