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Wall Street closed higher, Nasdaq gains 3.06% due to technology

This content was published on Apr 28, 2022 – 20:38

New York, April 28 (EFE). – Wall Street closed this Thursday with increases and the Dow Jones Industrial Average, its main index, rose 1.85%, while the Nasdaq advanced 3.06% on a great day for technology companies, especially meta. Which rose significantly after disclosing its quarterly accounts.

At the close of trading on the New York Stock Exchange, the Dow Jones index added 614.46 points to 33916.39 points. The Nasdaq Composite Index increased 382.60 to 12,871.53 points, and the selective S&P 500 Index rose 2.47%, or 103.54 points, to 4,287.50 points.

Silicon Valley giants pulled Wall Street led by Meta, which surprised investors with a strong rise in user numbers in recent months and saw its shares surge 17.59% today.

The accounts were better than expected by the market, despite the fact that profits for the company run by Mark Zuckerberg fell between January and March by 21% year-on-year, mainly due to higher expenditures in research and development.

The Meta results cemented confidence in the entire tech sector, which was one of the hardest hit sectors recently in the market and today is just over 4% as a whole.

Apple and Amazon, which were due to release their quarterly numbers at market close, rose strongly throughout the day and ended the session with gains of 4.52% and 4.65%, respectively.

Other big tech companies such as Microsoft (2.26%) and Alphabet (3.70%) also made clear gains on a day of broad-based increases, with all sectors of Wall Street in the green.

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According to analysts, the strong gains are largely the result of recent losses seen in many areas, especially technology, and a set of quarterly results that are generally good.

Twitter, which today reported about $513 million in revenue in the first quarter (seven times as much as a year ago thanks to the sale of its mobile ad company MoPub), is up 1.09%.

These are the first accounts revealed by the social network after billionaire Elon Musk agreed to buy it for $44 billion.

Other companies that reported results on Thursday saw mixed reactions in the stock market, with increases for McDonald’s (2.83%) and losses for other companies such as Caterpillar (-0.71%) and MSD (-0.67%).

In other markets, Texas oil rose 3.3% and closed at $105.36 a barrel, and at the close of Wall Street, gold advanced to $1896.7 an ounce, the US ten-year bond yield rose to 2.826% and the dollar rose. Land against the euro, with a change of 1.05. EFE

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